Profits fall at Premier Inn owner Whitbread amid drop in UK bookings
Shares rise on promises of buyback and more openings at Britain’s largest hotel groupProfits at the Premier Inn owner Whitbread have fallen after it was hit by higher costs and a drop in UK bookings, but shares rose on the promise of a share buyback and more hotel openings.Britain’s largest hotel group, which owns 852 hotels in the UK and 61 in Germany, reported a 14% fall in adjusted pre-tax profit to £483m for the year to 27 February. Revenues dipped by 1% to £2.9bn, as revenue per available room in the UK was down by 2%. Continue reading...
Shares rise on promises of buyback and more openings at Britain’s largest hotel group
Profits at the Premier Inn owner Whitbread have fallen after it was hit by higher costs and a drop in UK bookings, but shares rose on the promise of a share buyback and more hotel openings.
Britain’s largest hotel group, which owns 852 hotels in the UK and 61 in Germany, reported a 14% fall in adjusted pre-tax profit to £483m for the year to 27 February. Revenues dipped by 1% to £2.9bn, as revenue per available room in the UK was down by 2%. Continue reading...
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