Whitbread splashes out on £200mln small-room hotel near Trafalgar Square
The company's 'hub' concept is designed to make money for the group even in major cities where property prices are high, thanks to its smaller room format
Company
Whitbread PLC
LON:WTB
Whitbread PLC is the UK's largest hotel and restaurant company operating businesses in the budget hotels and restaurant sectors. Its brands include Premier Inn, Beefeater, Table Table, Brewers Fayre and Taybarns. Whitbread PLC employs over 33,000 people and serves 8.5 million customers every month in its 1500 outlets across the UK.
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Whitbread shares are “materially undervalued”, says Peel Hunt
Whitbread is betting on growth in German hotel occupancy
Whitbread upbeat on interim performance as trading in key markets 'ahead of expectations'
Whitbread plans to add 38 new hotels in Germany where sales of accommodation experienced the biggest growth
Wednesday's agenda: All eyes on the Fed, Whitbread and WH Smith
Fed watching will be back in earnest tomorrow as the FOMC unveils its latest interest rate decision
Whitbread resumes dividend as it returns to profit but warns of cost inflation
The Premier Inn owner warned cost pressure in the hospitality sector is rising with cost inflation set to reach 8%-9% this financial year, 1% higher than previously anticipated
‘Plan B’ Covid restrictions to end next week but masks will remain
Worst of pandemic might be over for UK suggests WHO's head of Covid
Whitbread says UK growth slows on latest COVID-19 restrictions; sees rising prices in 2022
On a more upbeat note, it expects domestic trading to return to pre-pandemic levels in 2022
Whitbread well placed for FY23, says Peel Hunt as it repeats ‘buy’ rating
“We believe that the recovery will quickly re-establish itself from early in Whitbread’s new financial year,” the broker said
Whitbread is “not the worst hotel company in the world” - stockbroker
“Inbound tourism and high-end business travel may be disrupted by the Omicron variant for a while longer, but neither are core to Whitbread."
InterContinental Hotels double-upgraded as Jefferies says it is time to check back into the hotels sector
The portents are good for the hotel industry. Internationally, Jefferies likes IHG while domestically Whitbread looks well-poised to benefit from sector consolidation
Whitbread pays retention bonuses to keep staff as shortages bite
Revenue per room run rates have the potential to reach full recovery at some point during 2022
Whitbread eyes full recovery for UK operations with trading topping forecasts
Trading in the UK has benefitted from the absence of any COVID-19 restrictions but Germany has also been improving
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FTSE 100 closes ahead as traders becalmed over coronavirus restriction fears
The UK blue-chip index in positive mood ahead of Wednesday's Budget, as US markets welcome consumer confidence boost
Restaurants, pubs and bars see sales bounce in September but London struggles
Rolling 12-month sales to the end of September were down by 10% as staff shortages, supply chain disruption and inflation continued to affect managed outlets all over the country
Whitbread at head of hotel sector recovery, says UBS
By re-fitting its estate through the recovery Whitbread can capitalise on weaker independents
Businesses offer vaccine incentives as pingdemic self-isolation ends
Asda, National Express, Uber and Deliveroo are among those offering discounts to boost vaccine uptakes
‘Freedom Day’ feels more like ‘Take Care’ day
Around 12,000 of Britain’s licensed premises will finally be able to reopen on Monday
Whitbread trading rebounds as hotels and pubs reopen
Booking trends for the summer were strong especially in tourist locations
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FTSE 100 closes in red after hawkish Fed and US jobs data spook markets
Britain's blue chip benchmark finished down over 31 points, or 0.44%, at 7,153
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Whitbread and Halfords in Thursday’s spotlight as investors hope for staycation boon
Whitbread, Halfords Group, Dr Martens, and Safestore Holdings are among the notable names in the diary for Thursday.
Crowdcube set to rival PrimaryBid as it prepares IPO platform for retail investors
Stockbroker and Crowdcube shareholder Numis will use the new platform, according to a report in the FT.
Whitbread gains market share but won’t fully recover until 2024 at best, City brokers say
The hotelier is pinning its hopes on UK 'staycation' demand but it needs business travellers to make up for lost revenue
Whitbread slumps to £1bn loss on COVID-19 disruption but says most hotels now open
18 out of 30 hotels are operational in Germany while 92% of the UK estate has resumed operations
Whitbread hoping to draw a line under lockdown as Scotland starts to reopen
The budget market segment in which Whitbread operates can recover more quickly than the rest of the hotel industry
Whitbread first hotel chain to recover thanks to domestic focus but it will take years, says JP Morgan
Sector-wide revenue per available room (RevPAR) is not expected to reach 2019 levels until 2024-25
Whitbread's hotels currently less than one third full during lockdown
Up until the end of November, accommodation sales were down 55% with occupancy at just over 49%
Whitbread downgraded as Peel Hunt gets its reductions in early
“Our new forecasts are bottom of the current range, and we do not expect investors to be surprised given the post-Christmas lockdowns"
Whitbread heading for battle with landlords as it asks for 50% rent holiday
The letter was sent before new Tier-4 restrictions were imposed on London and the south-east f
Whitbread a ‘buy’, Intercontinental Hotels, On the Beach down to ‘underperform’ after Jefferies looks at vaccine effect
Analysts assumed that UK restrictions will be lifted by the third quarter next year
Hotels and food chains to be among firms hardest hit by pandemic downturn, says Whitehall report
An unpublished dossier indicates that the accommodation and food services sector could experience a 26% decline in GDP in the first quarter of 2021 on top of a 68% plunge for the whole of 2020
Whitbread downgraded to sell as Deutsche Bank worries about UK
Britain is facing strong operating uncertainty for the next few months says the German bank
Whitbread gets boost from Barclays upgrade to 'overweight' from 'equal-weight'
The bank called the group "one of the most attractive recovery plays in the sector" following this week's coronavirus (COVID-19) vaccine news
Analysts book into one big hotel company and check out of another
Citi likes the look of Premier Inns, while UBS has downgraded the owner of Holiday Inns
Whitbread swings to interim loss but continues expansion in Germany
Since reopening its hotels in July, UK performance has been ahead of the market but winter trading remains uncertain
Whitbread worth buying for the value of its property alone, says broker
Last month, the Premier Inns and Beefeater owner said it is axing 6,000 jobs, or 18% of its hotel and restaurant staff
Whitbread to cut 6,000 jobs despite raising £1bn and using furlough scheme
“September and October are traditionally a period when business bookings pick-up after the quiet summer period, however at this point it is too early to assess the impact of COVID-19,” the company said
Whitbread sees good tourist demand as hotels and restaurants reopen
Whitbread operated 39 hotels for essential workers during the lockdown period
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FTSE 100 closes over 2% higher as Wall Street surges
Britain's index of leading shares closed over 128 points higher, or 2.09%, at 6,285 on Monday
Whitbread, Intercontinental Hotels higher on July reopening date
Boris Johnson revealed plans to reopen hotels and B&B alongside easier distancing rules
Whitbread sees 91% take-up for £1bn rights issue
Around £80mln of cash per month is flowing out of the business while its hotels and pubs are closed due to the coronavirus pandemic
Survive or thrive: Whitbread paints bullish picture for rights issue investors
What confounded analysts was that the Premier Inn owner was issuing so much money and at such a discount “from a position of relative strength”
Whitbread launches rights issue as cash burn expected to last until past September
The Premier Inn owner also published full-year results showing adjusted profit before tax down 8% on revenue up 1%
Whitbread shuts all Premier Inn hotels due to coronavirus lockdown
The FTSE 100 group also said it had decided not to declare a dividend for the past year
Whitbread strengthens hand in Germany with 19 hotel purchase
The German hotel market is 30% larger than the UK, highly fragmented and seeing a structural shift from independent hotels to branded hotels
Analysts book into Premier Inn owner Whitbread as it "turns the corner"
Analysts at HSBC and Barclays said the China coronavirus outbreak was a potential threat, but felt risks were in most cases “baked into share prices” already
Whitbread story could be “very different” next year, analysts say
Analysts see a market ripe for expansion in Germany, which is just what Whitbread is planning
Whitbread's underlying revenue dips as provinces stay weak
In the 13 weeks to 28 November, total sales grew 1%, with a 1.3% UK LFL dip offset by 0.3% growth across all properties in UK and Ireland
Whitbread upgraded to ‘hold’ by Deutsche Bank in European hotels sector review
The Premier Inn owner was upgraded from ‘sell’ alongside a target price increase to 4,550p from 3,650p
Whitbread wins as Barclays expects Tories to deliver “orderly Brexit”
The bank’s economists now expect an orderly Brexit, leading to a rebound in business investment of around 3.8% next year
Peel Hunt starts coverage of Premier Inn owner Whitbread with ‘buy’
The broker forecasts 69% earnings per share growth over the next four years, driven by 23% capacity growth to 101,000 rooms from the current 77,000
Whitbread slides into red as Premier Inn feels UK hotel squeeze
Premier Inn revenue per available room declined 5% in the half and adjusted profit before tax fell 5.6% to £251mln
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FTSE 100 index closes higher ahead of next parliamentary Brexit vote
As per usual, a soft pound gave a fillip to blue-chips
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Can Whitbread's Premier Inn resist sector squeeze?
Others reporting on Tuesday include Anglo American, Bunzl, Gear4Music, Reckitt Benckiser, St James's Place and Travis Perkins
Whitbread shares offer 'attractive risk/reward' says UBS
Analysts believe Whitbread has an opportunity to create “material value” in Germany, a country with similar or possibly even better characteristics as the UK
Premier Inn owner Whitbread completes £2.5bn Costa handout as shorts circle
Whitbread bosses had always promised to return a huge chunk of money to investors following the £3.9bn disposal of Costa Coffee to Coca-Cola back in January
Activist investor Elliott discloses stake in Premier Inn owner Whitbread
It is understood Elliott wants Whitbread to sell 10% to 15% of its hotel portfolio
Premier Inn owner Whitbread reports weaker sales after Costa disposal
“Whilst we are cautious about short-term market conditions, we are confident in our plans given the significant growth opportunities in the UK and internationally,” said chief executive Alison Brittain.
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FTSE 100 slips at close as investors brace for US Fed decision
All eyes will be on the statement from Fed rate setters later, especially due to the pressure to lower rates from President Trump
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Fed rate decision to dominate on Wednesday, UK inflation figures provide flavour ahead of BoE
While the market seems expectant around the possibility of a rate cut from the Fed, economists at RBC Capital have said the chance of one in June seems “extremely premature”
Investments and investor services
FTSE 100 closes higher Monday, just, as traders sit on hands
Footsie closed around 11 points higher at 7,357 at the start of the week, while mid-cap cousin FTSE 250 gained over 39 points
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Federal Reserve rate decision to dominate in week ahead, with BoE meeting likely to be dull
The corporate diary is fairly sparse, but there are some bright spots, notably updates from refocused blue chip hotels group Whitbread and housebuilder Berkeley Group
How de-equitisation could be both a good and bad thing for investors
A lack of new listings on the London market coupled with some large-scale collapses, acquisitions and share buybacks have led to the pool of equities looking more like a puddle
Investments and investor services
FTSE 100 regains ground at the close
The FTSE 100 closed 32.86 points higher at 7,218.16 on Thursday, just easing off its late afternoon high of 7,235
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Johnson Matthey's final results provide a step up in class for Thursday's corporate diary
The Day Ahead will also bring updates from two FTSE 250-listed firms, transport operator FirstGroup and water utility Pennon, plus numbers from newspapers group Daily Mail
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Enjoy the UK bank holiday, because there will be little else to get excited about in the coming week
The shortened trading Week Ahead will only bring updates from the likes of second-liners FirstGroup, Pennon, Wizz Air, and Daily Mail & General Trust
Whitbread investors check out as UK hotel bookings drop
Premier Inn owner's annual sales and profits came in below analysts forecasts
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FTSE 100 closes in red as China manufacturing data sends chill
The UK's premier share index shed over 22 points at 7,418, while the FTSE 250 shed over 86 points at 19,824
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Impressive first quarter performance needed from oil giant BP after recent share price rally
The Day Ahead also brings updates from the likes of blue-chip lender Standard Chartered, Premier Inn owner Whitbread and pubs group Greene King
Barclays trims Whitbread numbers ahead of results
Next Tuesday will see first annual results since £3.9bn sale of Costa Coffee chain to Coca-Cola
Morgan Stanley checks out of Whitbread, cutting its rating to ‘equal-weight’ on signs of weaker hotel demand
Morgan Stanley’s analysts said cash return and German expansion are key short-term and long-term supports respectively, but mid-term sentiment will be driven by corporate hotel demand, which remains weak
FTSE 100 closes marginally down after treading water through the day as Parliament breaks for Easter after Brexit extension
Holiday cheer as airline stocks gain on hopes holidaymakers will put Brexit concerns aside for summer
Shore Capital knocks Whitbread to ‘Hold’ on lower than expected cash return and strong post-Costa share performance
Analysts said plans by the FTSE 100 owner of Premier Inn to return around £2.5bn in cash to shareholders were below their own expectations of around £3bn
Whitbread plans additional £2bn share buy-back as it spends proceeds from Costa Coffee sale
In presentations delivered at its annual Capital Markets Day, the FTSE 100-listed firm, also forecast a further £220mln in savings over the next three years
Liberum hoping for some answers from Whitbread bosses at investor event
The City broker hopes chief executive Alison Brittain and her team make clear their overseas expansion strategy on Wednesday afternoon, as well as explain how much of the Costa sale money will be returned to shareholders
Whitbread kicks off £500mln share buyback after Costa sale as it issues cautious outlook
Whitbread said it expects underlying profit before tax in 2020 to be "consistent with this year" as it invests in its hotel expansion
Investments and investor services
FTSE 100 finishes lower as uncertainty continues to be the watchword
The UK's premier share index finished down over 27 points at 6,834
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Whatever the UK government no-confidence vote outcome, investors will have plenty to chew over on Thursday
The Day Ahead will bring updates from the likes of Primark-owner Associated British Foods, a caffeine-free Whitbread, credit checker Experian, and software firm Sage
Investments and investor services
FTSE 100 closes lower as Chinese data and Brexit weighs
Footsie closed down over 63 points at 6,855 on the day
Whitbread shares perk up on Barclays upgrade after completing Costa sale to Coca-Cola
Barclays upgraded its rating on Whitbread to ‘overweight’ from ‘equal weight’ and raised its target price to 5,200p from 5,000p
Whitbread receives clearance from Chinese regulator for Costa sale to Coca-Cola
The FTSE 100 firm said it had received clearance from China’s State Administration for Market Regulation to sell its Costa operations in the country
Archive
The conglomerate discount: Why Smiths is spinning off its medical division
The value of a conglomerate is almost always less than the combined value of its subsidiaries, which is why firms such as Smiths and Whitbread are spinning off some of their assets
Investments and investor services
J Sainsbury and retailers to be among highlights amid busy Thursday schedule
Sainsbury, Superdry and Burberry are among the names in the diary for Thursday.
Whitbread shareholders await 'significant' payout from Costa Coffee disposal
The sale of Costa should leave Whitbread with about £2.9bn to allocate to shareholders and acquisitions after paying down debt and topping up the pension pot, says Liberum.
Whitbread warns on profits as it invests in Premier Inn expansion after Costa disposal
"The combination of our commitment to the investment programme and the current UK consumer environment naturally means our near-term profit growth may be lower than in previous years," Whitbread said
FTSE 100 closes sharply lower as 'bloodbath' kicks off US trading
"Global stocks have swung sharply lower, amid growing fears about the health of the Chinese economy and a slew of geopolitical concerns – UK, Italy and Saudi Arabia."
Whitbread launches no-frills Zip hotel chain as Premier Inn’s owner seeks to refocus after Costa sale
The group said rooms will cost from £19 a night - Premier Inn prices typically start at £49 - and will be less than half the size of a standard Premier Inn room, at 8.5 square metres
Archive
Whitbread’s interims to be overshadowed by August’s £3.9bn sale of Costa coffee business to Coca-Cola
Aside from Whitbead's interim results, the day ahead will also bring updates from the likes of St James's Place, Travis Perkins, Anglo American, and Bunzl
From booze to beans and beds - a timeline of Costa Coffee owner Whitbread
Whitbread has continued to evolve since starting out as a beer brewing business
Whitbread to scrap certain posts at Premier Inn hotels in cost-cutting drive
According to Reuters, the group wants to get rid of the operation manager post at all of its hotels and reinvest the cost savings into new site openings
Barclays ups Whitbread to ‘overweight’, thinks Costa Coffee disposal underpins Premier Inns equity story
Barclays’ analysts said the significant value unlocked by Whitbread’s move to sell its Costa Coffee chain for £3.9bn to Cola-Cola gives the UK firm “interesting optionality”
Could Whitbread’s sale of Costa force AB Foods to do something similar with Primark?
Analysts long argued that it made little sense for Whitbread to keep both Costa and Premier Inn under the same roof, and calls are growing for AB Foods to spin off Primark, its star asset
Whitbread faces pressure to prove merits of Premier Inn as standalone business
“Whitbread investors may miss the caffeine highs Costa serves up," Hargreaves Lansdown said of the group's decision to sell the coffee chain to Coca-Cola
Minoan Group on the up as it sells travel & leisure unit
A look at some of the biggest risers and fallers in London on Friday
Whitbread shares froth higher as it agrees to sell Costa coffee to Coca-Cola for £3.9bn
The company said it plans to return a “significant majority” of proceeds from the disposal to shareholders
FTSE 100 joins global stocks lower to close 1.11% down
European benchmarks also took a big hit, while on Wall Street, the Dow Jones Industrial Average is down around 80 points
Halfords names Waitrose finance director Loraine Woodhouse as its new chief financial officer
Halfords said Woodhouse, finance director at the John Lewis Partnership's upmarket supermarket chain since 2015, will start as its CFO on November 1
Is it time for AB Foods to either spin-off Primark or sell its sugar division?
Some analysts think Primark is being dragged down by AB Foods’ sugar division, which is struggling to deal with a collapse in the price of the sweet stuff
ASOS rallies as it appoints former ITV boss Adam Crozier as chairman
Brian McBride will step down as chairman of ASOS in November after six years in the role
Whitbread's growth prospects lie overseas
The hotels and coffee shops operator is still expanding in the UK - perhaps a little too vigorously, some say - but increasingly market pundits are looking to China and Germany to perk up the performance of the group
Whitbread perks up after in-line first quarter
Costa UK grew total sales by 5.2% in the quarter through the strong contribution from new stores and Express machines. Premier Inn UK delivered total accommodation sales growth of 4.3% driven by additional capacity