Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

Premier Inn owner Whitbread posts jump in Q3 sales

Published 12/01/2023, 07:45
Updated 12/01/2023, 08:12
Premier Inn owner Whitbread posts jump in Q3 sales

Sharecast - In the 13 weeks to 1 December, total sales rose 22.9% from the same period a year earlier, with sales in the UK and Germany up 19.2% and 158%, respectively.

In the UK, accommodation sales pushed up 23.8%, driven by a combination of increased occupancy, higher average room rate and estate growth, with a strong performance across both London and the regions. Meanwhile, food and drink sales were ahead 8.4%.

In Germany, accommodation sales rose 172.8%, while food and beverage sales were 91.1% higher.

Chief executive Alison Brittain said: "Premier Inn UK delivered another excellent quarter with a strong performance, both in absolute terms and also relative to the broader midscale and economy sector.

"These revenue trends have continued into the fourth quarter, with good occupancy and high average room rates sustaining strong RevPAR growth and UK food and beverage sales remain well ahead of last year."

Brittain said Premier Inn Germany had another "robust" quarter, led by the company’s cohort of more established hotels that are performing particularly well.

She said: "Despite a more challenging period for the UK economy, our winning business model continues to deliver outstanding value and quality for our guests. The strength of our forward booked position, robust pricing, estate growth and efficiency programme all underpin our confidence in the outlook for FY24."

Read more on Sharecast.com

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.