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I was wondering the same thing. Possibly a less than positive broker note.
Any body know the reason for this drop
I see that there is a mention of a short position on this share. How is this affecting it's share price at the moment?
In for £5,000 myself
Having raised more than they needed in the Covid rights issue, they now have the luxury of being able to buy back a lot of those shares, which is no doubt helping the price. Whitbread remains a well managed company with an excellent brand in Premier Inn and plenty of growth opportunities in Germany and elsewhere. Provided there are no geopolitical shocks, I would expect the shares to motor past £40 again.
Agree, steady as she goes. As high as we've seen post covid meltdown. Was trading circa £40-45 range after Costa sale. I'm expecting £40 this year but all the usual concerns re:middle east might hold it back. Will look to top up if goes below £34 in short term.
Another excellent set of results - clearly the business is extremely well run and going from strength to strength in the UK and Germany - good to see that Germany is likely to break even this trading year.
Trading update looks acceptable. Holds full year guidance.
Room rates seem to be holding up well.
I just booked 12 leisure rooms for occupancy between July and October on Flex for an average of £91 including breakfast.
Flex offers payment on arrival and cancellation up to 1pm on arrival day.
All rooms were in the provinces - none in London or town/city centres.
Went to a witherspoons today for the first time. looks good
Nevergreen, I agreem the £40 target is not unreasonable, it has in fact been touted for quite some time by brokers. WTB is on the up after suffering heavily in the pandemic and only the the 'cost of living crisis' has slowed its recovery. It does right to refine its model in Germany - customer expectations - especially in the liesure sector are very different . The sites they've chosen in cities will do well especially if they are positioned to service the huge number of business people attending the Messe (Trade fairs ) that are held.
I've added recently and like you look forward to £40 plus.
Increased Int Divi 40%, strong update. Todays inflation showing hotel rooms price increased. Premier Inn well placed to benefit. Current upside up to £40 imo.
This is currently a serious problem at Hotels in Paris and now most of France. Would like to know others thoughts on impact this may have on this share. Getting lots of press coverage about this pest reaching UK shores and is thought to have been found in hotels in Kent. Could this be the reason for the decline in SP?
The rising demand for mid-week rooms what has caused the recent share decline ?
Came across this article. Demand based pricing in action.
https://www.dailymail.co.uk/news/article-12579287/amp/Part-time-office-workers-driving-spike-hotel-prices-large-cities-budget-rooms-costing-240-night-weekdays.html
Gentlemen,
It appears we have a breakout. Onwards & upwards to £40+
And broker after broker ups their target:
UBS raises Whitbread price target to 4,480 (4,200)
Jeffries raises Whitbread target to 4,400p (4200p)
Barclays raises Whitbread price target to 4,250 (4,000)
Deutsche Bank raises Whitbread target to 4,050 (4,000)
https://www.lse.co.uk/news/WTB/london-broker-ratings-socgen-raises-next-to-buy-from-hold-4e5jzvv4j7odmqn.html
Wonder how many extra beds are being taken up in Prem Inns close to airports at the moment what with the Air Traffic control problems at the moment? Maybe more are being sold in the Uk?
Stupmy just out of interest what made you decide to enter this short , was a pattern , price point or what . Thinking you may be correct just can’t see how you worked it out
I saw that, 20,000 shares at a time? I think I saw that this morning at least.
And remember there is a share buy back scheme running as well.