Whitbread delivers 14.8% sales growth.
Whitbread PLC, the UK's largest hotel and restaurant group, today reports its trading performance to 16th August 2012.
Sales update (% change vs. prior year)
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Sales for the 11 weeks to 16th August 2012 |
Sales for the 24 weeks to 16th August 2012 |
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Like for like sales*¹ |
Total sales |
Like for like sales*¹ |
Total sales |
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Premier Inn |
3.2% |
13.0% |
3.8% |
12.7% |
|
Restaurants |
4.9% |
6.9% |
3.4% |
5.9% |
|
Hotels and Restaurants |
3.8% |
10.7% |
3.6% |
10.1% |
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Costa |
5.7% |
25.3% |
7.1% |
25.3% |
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Total |
4.2% |
14.8% |
4.3% |
14.3% |
Andy Harrison, Chief Executive of Whitbread comments:
"Whitbread has continued to deliver good sales growth with total sales up 14.8% in our second quarter. Our brands have outperformed in a tough economic climate, with like for like sales growth of 4.2% and we have continued our network expansion at Costa and Premier Inn.
Premier Inn, the UK's leading hotel chain, outperformed its competitive set in the second quarter, with total sales growth of 13.0% and total revpar*2 growth of 1.9%, compared to a revpar decline of 4.3% in the Mid-scale and Economy*3 segments. As expected, the Olympics provided a modest benefit, primarily through increased room rate, with occupancy slightly down on last year. The cap on our London prices, to maintain Premier Inn's positioning for great value, constrained revpar growth. Restaurants continued to improve, benefitting from a wide range of management actions, driving an increase in like for like sales of 4.9%. Costa, the UK's favourite coffee shop, had yet another strong quarter with like for like sales up 5.7% and total sales up 25.3%, as we continue to grow at pace in both the UK and selected overseas markets.
