Premier Inn owner Whitbread WTB.L on Wednesday 15 June flagged higher costs for full-year 2023 on tight labour supply, after reporting higher total sales in the first quarter as hotel stays in Germany and UK rose as pandemic-led curbs eased.
Details
The hotel chain operator said that the group's total sales in the 13 weeks ended 27 May was 244.9% higher from the same period in full year 2022.
BRIEF-Whitbread Says Increasingly Confident Of Strong First Half Performance
The above news was followed by the below brief.
Whitbread PLC WTB.L:
- WHITBREAD PLC - Q1 TRADING UPDATE
- WHITBREAD - QTRLY TOTAL UK ACCOMMODATION SALES 235.6% AHEAD VERSUS FY22 (31.0% AHEAD VERSUS FY20)
- WHITBREAD - REPLACEMENT OF EXISTING DEBT FACILITY WITH NEW £775M FIVE-YEAR REVOLVING CREDIT FACILITY
- WHITBREAD - PREMIER INN UK HAS TRADED STRONGLY DURING FIRST THREE MONTHS OF FY23 AND BASED ON IMPROVED VISIBILITY OF Q2, WHERE WE ARE C.40% BOOKED
- WHITBREAD - WE ARE INCREASINGLY CONFIDENT OF DELIVERING A STRONG FIRST HALF PERFORMANCE
- WHITBREAD - WE REMAIN POSITIVE ABOUT OUR CONTINUED MARGIN RECOVERY IN UK IN FY23
- WHITBREAD - LABOUR SUPPLY REMAINS TIGHT , WE EXPECT SOME ADDITIONAL COSTS DUE TO TARGETED PAY INCREASES
- WHITBREAD - UK TOTAL FOOD AND BEVERAGE SALES HAVE RECOVERED WELL THROUGHOUT FY22 AND INTO FY23 AND ARE APPROACHING PRE-COVID LEVELS
- WHITBREAD - IN GERMANY, TRADING OVER LAST TWO MONTHS POST LIFTING OF GOVERNMENT RESTRICTIONS HAS BEEN AHEAD OF OUR EXPECTATIONS
- WHITBREAD - OPTIMISTIC FY OUTLOOK IN GERMANY IS IMPROVING
- WHITBREAD - IN GERMANY, OUR OPEN HOTEL ESTATE NOW STANDS AT 40 HOTELS, WITH A FURTHER 38 HOTELS IN PIPELINE
- WHITBREAD - SINCE LIFTING OF RESTRICTIONS, GERMAN HOTEL MARKET HAS RECOVERED MORE STRONGLY OCCUPANCY LEVELS WERE 64.7% IN LAST FOUR WEEKS OF QUARTER
- WHITBREAD - REPLACEMENT OF EXISTING DEBT FACILITY WITH NEW £775M FIVE-YEAR REVOLVING CREDIT FACILITY
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