Whitbread sees strong sales growth in Germany and UK

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Whitbread sees strong sales growth in Germany and UK
Credit: © Reuters.

LONDON - Whitbread (LON: WTB ) plc, the hospitality giant, has reported a robust financial performance, marked by a significant surge in accommodation sales. In Germany, the company's sales soared by 47%, while in the UK, there was a notable 12% increase compared to the last fiscal year. This growth is further underscored by the rise in revenue per available room (RevPAR) in the UK, which climbed by 10% from the previous year.

The company's food and beverage (F&B) segment also exhibited positive momentum, with sales in the UK climbing by 7%. Despite facing UK cost inflation estimated to be between 3% and 4%, Whitbread is optimistic about its ability to counter these pressures. The firm has identified operational efficiencies that are expected to yield savings of between £40 million and £50 million.

In addition to these operational highlights, Whitbread has actively returned value to its shareholders through a share buy-back program, with £226 million invested to date. Looking ahead, the company is confident in its strategic direction, particularly with its German operations, where it anticipates reaching break-even by the end of 2024.

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