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Olympics make little impact on strong set of interim figures for Whitbread

06 September 2012 by
Olympics make little impact on strong set of interim figures for Whitbread

The Olympics provided only a modest boost to the UK's largest hotel and restaurant group, Whitbread, in what was otherwise a strong set of interim figures, with total sales growth of 14.3%.

Business was boosted at Premier Inn by increased room rate - with revenue per available room (revpar) up just over 1% in the second quarter - during London 2012, but occupancy was slightly down on last year.

However, there were plenty of highlights for the 24-week trading period to 16 August, including a 4.43% increase in like-for-like sales at Costa. Total systems sales for the coffee chain increased to £432m, while franchise system sales rose to £175.6m.

Occupancy at Premier Inn for the total period was up 0.4% to 79.4%, with increases in revpar and average rooms rate of 2.3% and 1.8% respectively.

Growth of Whitbread's two core brands continue apace, with the planned opening of around 4,500 bedrooms for Premier Inn and 350 new Costa stores, plus 1,000 Costa Express units during the full financial year.

Whitbread chief executive Andy Harrison said that the economic challenges and variable trading were ongoing. "We remain on track to deliver our ambitious growth programme, with our strong brands winning market share," he added.

Whitbread like-for-like sales rise 4.5% in first quarter of 2012 >>

Whitbread appoints new group finance director >>

By Janet Harmer

E-mail your comments to Janet Harmer here.

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