Whitbread confirmed that 98% of hotels and restaurants are currently open
Whitbread (Lon: WTB), owner of Premier Inn, confirmed on Thursday that there is a strong level of demand for UK destinations as Britons seek domestic holidays.
Whitbread, which also owns many restaurant companies, struggled throughout 2020 as the site was closed, but the outlook is positive as restrictions have been eased nationwide, including hotels reopening. I’ve checked.
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Hotel sales in the UK were at 73% of the level even before the pandemic, as domestic tourism surged after lockdown.
Whitbread confirmed that 98% of hotels and restaurants are currently open. He also said that there has been a stronger trend in summer tourist destinations, except for central London and airport locations.
In the year that ended in February, Whitbread lost £1 billion, but in September it let go of its 6,000 staff.
Whitbread CEO Alison Britten said:
“Despite the impact of UK government restrictions that were in place for most of the first quarter, the group traded well ahead of the market during the quarter. On May 17th, overnight leisure stays allowed And when restaurants were fully reopened for indoor services, trades in the UK were encouraging. Furthermore, our forward bookings continue to improve, and the expected lockdown of leisure demand We have benefited from bounce and have continued improvements in business bookings. In the first quarter, we opened 10 new hotels in the UK.”
We hold a uniquely advantageous position in the UK and are built on our size, direct market distribution and the strength of our Premier in Brands. Our position as a market leader in the rapidly recovering budget sector is combined with a broad domestically focused customer mix. This means that we are suited to continue to perform strong, strong, along with our financial flexibility and ability to invest in customer suggestions when others are constrained,” Britten adds. I did.
Whitbread stock price rose 2.69% to 3,378.61p during Thursday morning session.
