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When we stayed in a Premier Inn in Leeds recently for 3 nights they did not clean the room every day "due to Covid" you could get it done if you requested it and get fresh towels ,tea etc from reception.
Personally I prefer this as it is no hardship to throw a duvet over the bed every morning. Rooms were only deep cleaned when you checked out.
Its wrong to attribute the high occupancy just to seasonal demand, although that is obviously a major factor.
The main driver of demand is the demise of the opposition, no so much from the larger hotel groups, but from the thousands of small hotels and B&B's that have closed since Covid struck and also the pubs with accommodation that have closed.
So, even if demand falls for UK accommodation, Premier Inn is likely still to be busy with high occupancy levels.
The real challenge is staffing and even that situation could improve with more cash strapped workers looking for jobs.
I have also noticed that hotels that you could have booked for £50 a night a year ago are now £75/£80. Although they have the same cost pressure as everyone else, I think that their occupancy and margins will be significantly up this year. With the nightmare experiences of going abroad and yet another great summer in the Uk with the weather, I am sure that more people will be using UK holidays next year. At some point this will be reflected in the share price
Not had a proper look, but at a P/E of around 25 for erratic earnings with an horrific balance sheet, if WTB put in a bid, I would be selling my WTB faster than you can say bankruptcy. If I wouldn't own them directly, I certainly don't want to own them indirectly. Add to that the question of funding the acquisition...
I would obviously take a proper look at SBUX's balance sheet first to see if something like IFRS 16 is at play and whether synergies really could produce perofrmance greater than the sum of their parts, but at first glance, it's a no from me.
Continued market outperformance in the UK with Premier Inn total accommodation sales 27.2pp ahead of the market1, driven by the strength of our commercial and operational initiatives combined with the inherent strengths of our brand, scale and direct distribution
· Our UK hotels continue to perform well ahead of pre-COVID levels:
o Total UK accommodation sales 235.6% ahead vs FY22 (31.0% ahead vs FY20)
o UK LFL accommodation sales 221.6% ahead vs FY22 (21.3% ahead vs FY20)
· UK food and beverage sales were 585.3% ahead vs FY22 (4.3% behind vs FY20)
· Given a tight labour market and our focus on maintaining our market leading position, we plan to invest additional costs of £20m - £30m in labour, refurbishments and IT in FY23. However, our high levels of occupancy and continued strong sales performance mean we remain confident in our continued margin recovery in the UK
"The strength of Premier Inn's recovery in the UK continues to be ahead of expectations with a particularly strong Q1 performance that is well ahead of pre-pandemic levels and we continue to significantly outperform the market1. This outperformance is driven by a number of factors, including our commercial and operational focus as well as the strength of our brand and operating model, our direct distribution, national coverage and accelerated independent supply contraction.
This impressive Q1 performance together with improved visibility into Q2, gives us increased confidence in delivering a strong first half and remaining ahead of the market for the rest of the year.
Whitbread’s Premier Inn chain has all the resources it requires to deliver steady growth in hotel capacity in the UK, yet the FTSE 100 group’s share price has stubbornly refused to regain pre-pandemic levels.
Analysts at Peel Hunt, though. remain positive on the stock thinking that its German hotel business could provide the required impetus. They say the business has the potential to grow its estate tenfold, adding: “The emergence of the German business as a successful new growth driver will catalyse a rerating.”
The German operation has 40 hotels and another 38 in the pipeline and Peel Hunt believes the division could break into profit next year, advising its clients: “The German business is only now getting off the production line post-Covid 19 and onto the autobahn. Buckle up before it picks up speed.”
Shares of Whitbread, which were were trading at almost £44 in March 2019, more than halved during the pandemic. Yesterday, they closed 58p higher to £25.22, a rise of 2.4 per cent.
Da Master ......... my HL account is a SIPP (drawdown) I think these cards came from ii (I split my holding between me & missis in ii and Hargreaves to get 3x Costa vouchers for £15 ,instead of £5 from one large holding) applied for discount card in all three accounts usually get HL card later.
@Samson. That's true. I was thinking about the other day. Next thing you know, £1B equity raise!
Add to that the recent controversy over staff wages/retention and Fat Cat payouts and perhaps it is time she handed the reigns over.
Has some synergies with Karen Hubbard who 'left' Card Factory after bleeding it dry through dividends. She was replaced with Darcy [male] Wilson-Rymer who previously held a senior position at Pizza Hut