Whitbread (WTB)

Sector:

Tourism and Leisure Services

Index:

FTSE 100

2,875.00p
   
  • Change Today:
    -6.00p
  • 52 Week High: 3,676.00p
  • 52 Week Low: 2,768.00p
  • Currency: UK Pounds
  • Shares Issued: 176.21m
  • Volume: 951,437
  • Market Cap: £5,066m
  • RiskGrade: 219
  • Beta: 1.00

Whitbread holds guidance as Premier Inn sales rise in Q3

By Frank Prenesti

Date: Thursday 11 Jan 2024

LONDON (ShareCast) - (Sharecast News) - Pubs and Premier Inn owner Whitbread maintained full-year guidance after a strong rise in accommodation sales during the third quarter, with momentum continuing into the final three months of the financial year.
The company said accommodation revenues rose 13% year on year, driven by a 47% jump in German sales. Food & beverage operations were up 7%.

Strong trading continued into the fourth quarter with UK accommodation sales 12% ahead of fiscal 2023 with revenue per available room (RevPAR) - - a key industry metric - up 10% versus and 39% ahead of pre-Covid pandemic 2020.

Third-quarter RevPAR increased by 9% in the UK with high occupancy and strong pricing. However, occupancy, room rates and RevPAR all fell compared with the second quarter. Total accommodation revenue fell to £535m from £591m and RevPAR to £70 from £77.45.

Whitbread said it expected net UK cost inflation between 3% and 4% on its £1.7bn - £1.8bn cost base, including operational efficiencies of between £40m and £50m

"With a positive forward booked position in the UK, a favourable supply environment, a clear commercial plan and cost efficiencies, we remain confident in the FY25 outlook," it added.

"In Germany, we remain on-track to break-even on a run-rate basis during calendar year 2024."

"In the UK, we continued to see robust demand for our hotels driving high levels of occupancy and strong pricing. Our focus on delivering a high quality proposition at a great price meant that Premier Inn UK has continued to outperform the M&E market."

Derren Nathan, head of equity research at Hargreaves Lansdown, said there were "a few signs that Whitbread is having to work a little harder to keep its room full".

Quarter on quarter occupancy fell ... and whilst London room rates only nudged down a fraction, compared to the second quarter, they dropped by 11% in the UK regions," he said.

Reporting by Frank Prenesti for Sharecast.com

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Whitbread Market Data

Currency UK Pounds
Share Price 2,875.00p
Change Today -6.00p
% Change -0.21 %
52 Week High 3,676.00p
52 Week Low 2,768.00p
Volume 951,437
Shares Issued 176.21m
Market Cap £5,066m
Beta 1.00
RiskGrade 219

Whitbread Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
51.35% below the market average51.35% below the market average51.35% below the market average51.35% below the market average51.35% below the market average
29.41% below the sector average29.41% below the sector average29.41% below the sector average29.41% below the sector average29.41% below the sector average
Price Trend
1.57% below the market average1.57% below the market average1.57% below the market average1.57% below the market average1.57% below the market average
28.3% below the sector average28.3% below the sector average28.3% below the sector average28.3% below the sector average28.3% below the sector average
Income
19.78% above the market average19.78% above the market average19.78% above the market average19.78% above the market average19.78% above the market average
57.89% above the sector average57.89% above the sector average57.89% above the sector average57.89% above the sector average57.89% above the sector average
Growth Not Available

What The Brokers Say

Strong Buy 7
Buy 7
Neutral 4
Sell 1
Strong Sell 0
Total 19
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Whitbread Dividends

  Latest Previous
  Interim Final
Ex-Div 31-Oct-24 23-May-24
Paid 06-Dec-24 05-Jul-24
Amount 34.60p 62.90p

Trades for 21-Nov-2024

Time Volume / Share Price
15:37 16 @ 2,876.00p
16:49 114 @ 2,875.00p
16:37 49,007 @ 2,875.00p
16:29 191 @ 2,884.00p
16:29 110 @ 2,884.00p

Whitbread Key Personnel

Chair Adam Crozier
CFO Hemant Patel
CEO Dominic Paul

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