We would love to hear your thoughts about our site and services, please take our survey here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
It’s a bear market atm so the macro outlook is not great hence why IMO the lacklustre reaction to what are very good results. Whitbread weathered the financial crisis very well with only a 3% drop off and I suspect will do well in this possible recessionary period. People will always try to get away and the 50/50 business/leisure split should bode well. F&B down (5%) on prepandemic level doesn’t help but they are targeting that side with offers etc. Bear markets end eventually and then the SP should recover. On the big plus side Whitbread have 55% of properties as freehold and a very strong brand and are cash positive ( exc leasehold liabilities)
So it’s just a matter of waiting for sentiment to change. All IMO & DYOR.
The company is forecasting full year profits of c£700m but is only valued at £5.2bn.
Decent set of results IMO. Pleased to see the return of the interim divi too.
It trades on a very high multiple ...
wild ride past year, 3360p Oct 2021, went to 2246p last week !...on the back of excellent figures and WTB now exceed pre pandemic profits....
https://twitter.com/surprised_trade/status/1584791926909566976
'H1 profits exceed pre-pandemic levels and we remain significantly ahead'
Conversely, many more people are ditching holidays abroad with all the 'baggage' accompanying them, and staying in the U.K. Another Covid outbreak outside of these waters will only assist the UK hospitality driven economy in general.
Buy British you know it makes sense!
Unfortunately, I can't see it breaking out whilst inflation and energy bills are forecast to be so high. The concern over consumer disposable income is holding this share back.
It seems it is stuck in a trading range at the moment. Needs to break out.
Re ran the figures here and came up with a intrinsic value of £62 p/s , can some one else please check these and confirm or question it . Seems high but numbers dont look wrong to me .
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
spent weekend around Redditch and Premier hotels within miles absolutely rammed (full) and charging £145 to £170 a night there was no shortage of takers :-)
Are you guys on this planet - Starbucks is valued at over $90 bn.
Try doing even 1 minutes worth of research.
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.
Two wrongs don't make a right.
If Starbucks is up for sale , perhaps we could buy it. We certainly made a serious mistake with selling Costa , time to make amends ?
Thanks S001
About 2 weeks
Just applied for my card via HL.
Can anyone advise how long it will take to be delivered?
Thanks.
Nd
Wednesday 15th June Q1 trading update should give a good view on the outlook of the UK economy
results June 15th 2022....
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.
https://www.thetimes.co.uk/article/whitbread-wakes-up-to-the-sound-of-german-growth-65sdrvbbg
Got my card this morning - shares are in a normal trading account with iI - card came from Link but requested via iI.
Card expires end June 2023.
Link Asset Services
Whitbread@linkgroup.co.uk
03448552327
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.