“Anywhere with beaches and views” Everything fully booked for summer says the CEO of Premier Inn
The Premier Inn (LON: WTB) enjoys a surge in bookings as Brits settle down to stay for summer vacation.
The prospect of booking all rooms at 15% of over 800 hotels in tourist destinations welcomes the news after the pandemic hit Premier Inn owner Whitbread with a loss of £1 billion a year.
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Whitbread CEO Allison Britten said the fiscal year ended February 25 was one of the most challenging in nearly 300 years of history, but she was a company with FTSE 100. said he is in a good position to capitalize as a limit. It’s been lifted all over the country.
The hotel will open completely from May 17th, but Britain said “where to look out for the beaches and views” is almost fully booked in the summer.
The CEO of Premier Inn said the magnitude of pent-up demand made people think far before.
“We opened a Cheltenham 2022 booking a year ago. We were fully booked within 48 hours at all hotels within a very wide mileage. This is what people are saying during the pandemic. “It shows you’re thinking ahead of what you missed,” she said.
Amisha Chohan, equity research analyst at Quilter Cheviot, commented further on the results.
“The pain of the pandemic is temporary and businesses will be one of the major beneficiaries of the post-lockdown bounceback and staycation boom. In fact, in the second half of 2020, the group will win the market share. It suggests that the market is more concentrated as it has been successful and competitors have been forced to withdraw from the market.”
“Premier Inn in particular is ready to take advantage of ‘Leisure Bounce’ and could be an interesting recovery play when Economy returns. The hotel chain will become stronger from the crisis, opening between 2 to 3,000 rooms in the UK and 2,000 rooms in Germany, and seeing an upward rise as the vaccine rollout accelerates across the UK and across Europe,” Chohan said.
“The reopening of the UK economy and international travel restrictions will boost Premier Inn, particularly in coastal and tourist locations, which account for around 15% of the chain’s overall real estate. For a full recovery in leisure demand, this year The unlimited event will need to return later in the day.”
