Premier Inn owner Whitbread gets serious Omicron beating over Christmas as new investments are postponed January 12, 2022 Premier Inn owner Whitbread has revealed a knock to demand over the festive season from the spread of the Omicron variant and cautioned over rising costs. The group saw total UK sales drop 4.4 per cent year-on-year in the six weeks to January 6, dragged lower by a 17.2 per cent slump in food and [...]
Premier Inn owner Whitbread’s shares soar as business travel demand returns June 17, 2021 Premier Inn owner Whitbread confident in ‘post-lockdown bounce’ despite sales hit
Whitbread – at the end of the day, someone has to pay December 24, 2020 Whitbread, the owner of popular hospitality chains Premier Inn, Beefeater and Brewers Fayre, has written to the landlords of its properties asking for a rent reduction of 50% for the next three months, to “share some of the pain” of the ongoing pandemic and the restrictions on hospitality. It seems, prima facie, a reasonable request. [...]
Premier Inn owner Whitbread asks landlords for 50 per cent rent cut December 23, 2020 Premier Inn owner Whitbread has asked its landlords for a rent cut of 50 per cent, as the ongoing coronavirus pandemic restrictions continue to affect trade. Whitbread sent a letter to its landlords, urging them to “share some of the pain of lockdown,” according to reports. Whitbread, which also owns Beefeater and Brewers Fayre brands, [...]
Premier Inn owner Whitbread swings to huge loss due to hotel closures October 27, 2020 Premier Inn owner Whitbread (LON:WTB) swung to a huge loss in the first half of the year as revenue plummeted while its hotels were closed during coronavirus lockdowns. The figures In the six months ended 27 August, Whitbread posted a loss for the period of £660.5m, a drop of 483.6 per cent from £172.2m profit [...]
Coronavirus: Premier Inn owner Whitbread to axe up to 6,000 jobs September 22, 2020 The owner of hotel chain Premier Inn has announced plans to cut up to 6,000 jobs as the coronavirus outbreak continues to ravage the hospitality industry. Whitbread, which also owns the Beefeater and Brewers Fayre restaurant chains, said the figure represents 18 per cent of its total workforce. The FTSE 100-listed firm said the cuts [...]
Premier Inn owner Whitbread sees tourist demand as hotels reopen July 7, 2020 Premier Inn owner Whitbread this morning reported good demand for bookings in traditional tourism destinations as it revealed that sales dropped 79.4 per cent in the first quarter of the year. Whitbread said it has reopened more than 270 UK hotels and is preparing to open the majority of its estate by the end of [...]
Premier Inn owner Whitbread taps investors for £1bn May 21, 2020 Premier Inn owner Whitbread will tap investors for £1bn to help it weather the coronavirus crisis while its hotels and restaurants are closed. Whitbread, which also owns Beefeater and pub chain Brewers Fayre, said the rights issue would help strengthen its balance sheet as the firm expects £80m of cash outflows a month while its [...]
Profit sinks at Premier Inn owner Whitbread as Brexit uncertainty hits hotel demand October 22, 2019 Profit slipped at Premier Inn owner Whitbread in its latest half-year as the company grappled with a weak UK travel market after selling coffee chain Costa to Coca-Cola last year. Read more: Whitbread share price tumbles on Barclays downgrade The figures Pre-tax profit fell 7.1 per cent to £220m, down from £237m this time last [...]
Whitbread shares: Waiting for strategy to bear fruit June 24, 2019 | City Talk It’s not easy being a hotelier in this market, but Whitbread shares are holding their own for now. Despite having previously laid the groundwork in guiding expectations lower, Whitbread (LSE:WTB) has delivered a first-quarter update which is light on cheer. Without the diversification and success that Costa brought, the company is now mostly hostage to the cyclical [...]