Premier Inn Owner Whitbread Quarterly Sales Rise On Resilient Demand

By Dave Simpson
Premier Inn Owner Whitbread Quarterly Sales Rise On Resilient Demand

Premier Inn owner Whitbread said on Thursday 22 June its first-quarter sales came in ahead of last year's figures, supported by strong demand for travel and leisure and robust performances of its UK hotels.

Details

The hospitality industry is witnessing a rebound as travel across the world recovers from the pandemic fallout, while a cost-of-living crisis has seen demand for budget hotel chains soar with consumers tightening their purse strings.

Whitbread's forward-booked revenue in the UK was ahead of last year's levels, and its German business is expected to reach break-even on a run-rate basis during the calendar year 2024.

"Our forward-booked position into second quarter underpins our confidence in being able to deliver a strong first-half result," CEO Dominic Paul said in a statement.

The hotel chain operator, which owns steakhouses Beefeater and Bar+Block, said like-for-like sales growth in the UK was up 14% year-on-year, with total like-for-like sales growth 15% above year-ago levels.

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Additional Information

Whitbread's food and beverage division reported a 10% jump in its total sales.

Premier Inn Owner Whitbread Profit Beats Expectations, Raises Dividend

The above news follows news from earlier this year that Whitbread Plc's full-year profit beat expectations and the Premier Inn owner raised its annual dividend on Tuesday 25 April, thanks to a robust holiday season without any COVID-19 related restrictions.

Adjusted profit before tax came in at £413 million for the 52-week period ending 2 March, 15% higher than pre-pandemic levels, Whitbread said.

Read More: Premier Inn Owner Whitbread Profit Beats Expectations, Raises Dividend

News by Reuters, edited by Hospitality Ireland. Click subscribe to sign up for the Hospitality Ireland print edition.