RE: All the Restaurants open soon12 May 2021 13:50
The group needs 55% occupancy levels in order to break even. Pent-up demand is expected to unleash a staycation boom in the UK this summer, which will benefit primarily around 15% of Whitbread's portfolio. We got a preview of what summer staycation demand looks like when restrictions were lifted last year, and it was barely enough to cover costs. Occupancy was 51% in August and 58% in September. Ultimately the group needs sporting events, weddings and business travel to resume in earnest before a recovery will be on the cards.