Whitbread reports steady growth for Premier Inn

23rd of October, 2018 | Posted in Hotel News Email Article | Print Article

Premier Inn owner Whitbread has reported steady first-half results.

The group posted a 2.6 per cent rise in revenue to £1.08 billion for the six months to 30 August, with statutory profit before tax rising by 0.2 per cent to £257 million. Underlying profit before tax rose 2.5 per cent to £270m. The group declared an interim shareholder dividend of 32.7p, an increase of 4 per cent on a year earlier. Costa, which Whitbread is selling to soft drinks giant Coca-Cola for £3.9 billion, saw profit grow 3.5 per cent to £47m in the half-year period.

Premier Inn reported total UK accommodation sales growth of 4.8 per cent, but like-for-like revenues rose just 0.2 per cent.

The UK arm has more than 74,000 rooms, with a further 13,000 rooms in the pipeline and international growth also on the agenda.

The latest figures round off a frenzied few months for Whitbread, which earlier this year said it would list Costa as a separate entity, following pressure from activist investor Elliott.

But in August the company announced the sale of Costa to Coca-Cola.

Whitbread acquired Costa in 1995 for £19m from founders Sergio and Bruno Costa when it had just 39 outlets. It now has more than 2,400 and is also embarking on overseas expansion.

The following two tabs change content below.
Hotel Magazine Scotland News Team

Hotel Magazine Scotland News Team

Hotel Scotland is a new publication (2017) from the publishers of DRAM - Scotland's leading on-trade magazine. Hotel Scotland is a newsy magazine which covers all aspects of the industry in Scotland. From who's who, to industry issues and refurbishments.
Hotel Magazine Scotland News Team

Latest posts by Hotel Magazine Scotland News Team (see all)

Recent News

    Moxy

    Moxy Hotels, Marriott International’s experiential hotel brand, opened in Glasgow recently at High Street. Moxy is described by the company as being…

    The Fife Arms

    The transformation of The Fife Arms in Braemar is now complete and the hotel has re-opened just in time for Christmas. This…

    A Dream Team: Interview with Struan and Louise Lothian

    Struan and Louise Lothian own and run the Knockendarroch Hotel in Pitlochry, which recently was awarded a César by the Good Hotel…

    Trade bodies express doubt over City of Edinburgh Council’s boast that half of accommodation providers in Edinburgh support its proposed Tourism Tax

    Both the Scottish Tourism Alliance and UKHospitality have called in to question City of Edinburgh Council’s statement that its proposed £2 tourist…

    Priory Hotel adopts employee-ownership model

    The Priory Hotel in Beauly, near Inverness, has transitioned to employee ownership to 46 staff members as its founder prepares to retire after…