WTB6 Sep 2012 17:26
Andy Harrison, Chief Executive of Whitbread comments:
"Whitbread has continued to deliver good sales growth with total sales up 14.8% in our second quarter. Our brands have outperformed in a tough economic climate, with like for like sales growth of 4.2% and we have continued our network expansion at Costa and Premier Inn.
Premier Inn, the UK's leading hotel chain, outperformed its competitive set in the second quarter, with total sales growth of 13.0% and total revpar*2 growth of 1.9%, compared to a revpar decline of 4.3% in the Mid-scale and Economy*3 segments. As expected, the Olympics provided a modest benefit, primarily through increased room rate, with occupancy slightly down on last year. The cap on our London prices, to maintain Premier Inn's positioning for great value, constrained revpar growth. Restaurants continued to improve, benefitting from a wide range of management actions, driving an increase in like for like sales of 4.9%. Costa, the UK's favourite coffee shop, had yet another strong quarter with like for like sales up 5.7% and total sales up 25.3%, as we continue to grow at pace in both the UK and selected overseas markets.
The economic challenges and variable trading month by month continue. We remain on track to deliver our ambitious growth programme, with our strong brands winning market share."