DUNSTABLE (dpa-AFX) - Whitbread PLC (WTB.L, WTBDY, WTBCF), a British hotel company, reported Tuesday that its third-quarter total Group sales grew 2 percent from last year to 781 million pounds, while like -for-like or LFL sales increased 3 percent. The firm added that it remains confident in the full year outlook
In its trading update, the company noted that the sales growth reflected positive total accommodation sales performance in both Premier Inn UK and Premier Inn Germany. This was partially offset by the expected reduction in UK food and beverage or F&B sales due to the company's Accelerating Growth Plan or AGP to transform some lower returning branded restaurants into higher returning hotel extensions.
Accommodation sales increased 4 percent with 2 percent rise in UK and 16 percent jump in Germany as positive market demand continued into the third quarter. F&B sales, meanwhile, dropped 3 percent as a 21 percent climb in Germany was more than offset by 4 percent drop in UK.
LFL sales growth reflected 3 percent increase in accommodation as both regions performed positively. F&B LFL sales were flat, as 1 percent drop in UK was offset by 11 percent rise in Germany.
In UK, RevPAR was up 3 percent.
Regarding the current trading for the six weeks to January 8, Whitbread noted that total UK accommodation sales and RevPAR were both up 4 percent. Total Germany accommodation sales grew 11 percent, with total Germany estate RevPAR up 5 percent to 56 euros.
Further, the company said it now expects to deliver greater cost efficiencies of 75 million euros to 80 million euros in fiscal 2026 across labour, technology and procurement, higher than previous target of 65 million euros to 70 million euros.
The company maintained that it is exploring a variety of options to further drive profits, margins and returns, in response to the recent UK Budget. The company will provide an update to the market regarding its Five-Year Plan at the time of fiscal 2026 Preliminary Results announcement on April 30.
Dominic Paul, Whitbread Chief Executive, said, 'Looking forward, we now expect the cost impact from the proposed changes in business rates included in the recent UK Budget to be c.£35m in FY27, which is lower than our preliminary estimate of £40m - £50m. We continue to believe the proposed changes to business rates are damaging for the overall sector and will impact future investment and job creation and we, along with the wider hospitality industry, continue to press the UK Government for changes.'
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