Roundup Newswires

Editor Brian Harrod Provides Comprehensive up-to-date news coverage, with aggregated news from sources all over the world from the Roundup Newswires Network

Profits fall at Premier Inn owner Whitbread on drop in UK bookings

Posted on May 1, 2025 by Admin

Shares rise on promises to return £2bn to investors through buybacks and dividends, and more hotel openings

Profits at the Premier Inn owner Whitbread have fallen after it was hit by higher costs and a drop in UK bookings, but shares rose on the promise of a share buyback and more hotel openings.

Britain’s largest hotel group, which owns 852 hotels in the UK and 61 in Germany, reported a 14% fall in adjusted pre-tax profit to £483m for the year to 27 February. Revenues dipped by 1% to £2.9bn, as revenue per available room in the UK was down by 2%.

Premier Inn owner Whitbread ramps up cost-cutting plans as tax rise looms

Posted on October 16, 2024 by Admin

Firm’s profits fall 22% and demand slows, with hospitality sector bracing for employer tax increase in budget

The Premier Inn owner, Whitbread, is ramping up its cost-cutting programme amid slowing demand, as the hospitality sector braces for a widely expected employer tax rise in this month’s budget.

The company, which owns the Beefeater and Brewers Fayre restaurant chains as well as the UK’s biggest hotel brand, said its total revenues had been flat at £1.57bn in the six months to 29 August, while profit before tax fell by 22% year on year to £309m.