REG - Whitbread PLC - 1st Quarter Results

WhitbreadAnnouncement

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RNS Number : 4701N  Whitbread PLC  19 June 2025

Continued outperformance in the UK and Germany; Five-Year Plan on track

 

Throughout this release percentage growth comparisons are comparing Q1 FY26
performance for the 13 weeks to 29 May 2025 to the same period in FY25, unless
stated otherwise.

 

 

Overview

 •            We are continuing to make good progress on each of our key strategic
              priorities including: the delivery of our Accelerating Growth Plan and UK
              network expansion; executing our commercial programmes; realising significant
              cost efficiencies; and reaching profitability in Germany
 •            Premier Inn UK:

              o  Total accommodation sales were down 2% versus last year; total RevPAR was
              down 2%

              o  As a result of our strong commercial programme, Premier Inn continued to
              outperform the midscale and economy ('M&E') market(1) with total
              accommodation sales 1.7pp ahead and RevPAR growth 1.6pp ahead and an increased
              RevPAR premium of £5.63

              o  Strong outperformance in London on both accommodation sales (+3.9pp) and
              RevPAR (+2.4pp); Regions also ahead by 0.5pp and 0.7pp respectively

              o  Food and beverage ('F&B') sales performed in line with our
              expectations and were down 16% reflecting the impact of our Accelerating
              Growth Plan to optimise our F&B offer at a number of sites and unlock
              3,500 new extension rooms, improving the service to our hotel guests and
              driving higher financial returns for our shareholders
 •            Premier Inn Germany:

              o  Total accommodation sales were up 16% in local currency (up 15% in GBP),
              led by the increasing maturity of our brand and estate, together with the
              benefit of our commercial initiatives

              o  Total estate RevPAR increased by 12% to €63 and RevPAR of our more
              established hotels grew by 17% to €72, performing significantly ahead of the
              wider M&E market(2)
 •            £250m share buy-back: on track with 1.2m shares purchased so far for a total
              consideration of £34m
 •            Outlook: Five-Year Plan on track to deliver incremental profit of at least
              £300m by FY30, generating more than £2bn for shareholder returns

 

Q1 FY26 Summary

 

                              Q1
                              UK     Germany(3)  Total
 Sales growth:
    Accommodation             (2)%   15%         (0)%
    Food & beverage           (16)%  22%         (14)%
    Total                     (5)%   16%         (4)%
 Like-for-like sales growth:
    Accommodation             (3)%   13%         (2)%
    Food & beverage           (2)%   19%         (1)%
    Total                     (3)%   13%         (1)%

1: STR data, standard basis, 28 February 2025 to 29 May 2025, UK M&E
market excludes Premier Inn

2: STR data, standard basis, 28 February 2025 to 29 May 2025, Germany M&E
market excludes Premier Inn

3: Germany sales growth in GBP

 

Comment from Dominic Paul, Whitbread Chief Executive:

 

"We continue to execute our strategic priorities at pace and are making
excellent progress with our Accelerating Growth Plan and network expansion in
both the UK and Germany. We also remain on course to deliver £60m of cost
efficiencies and meet our target of £250m - £300m of property disposal
proceeds this year. Our Five-Year Plan is on track and will deliver a step
change in profits, margins and returns over the next few years.

 

"In the UK, we continue to outperform against a challenging market backdrop,
with the strength of our brand and commercial programme continuing to drive
total accommodation sales and RevPAR growth ahead of the market. Whilst the
short-lead nature of our business means that our forward visibility remains
limited, our forward booked position is ahead of last year and we remain
confident that we can continue to outperform the market.

 

"In Germany, we delivered another strong trading performance, led by the
increasing maturity of our estate and our commercial initiatives. Our total
estate is outperforming the M&E market and we remain on course to deliver
profitability in FY26."

 

Outlook

 

Our Five-Year Plan is on track to deliver incremental profit of at least
£300m by FY30, releasing more than £2bn for shareholders through a
combination of share buy-backs and dividends.

 

In the UK, our forward booked position remains ahead of last year and whilst
forward visibility remains limited, our commercial initiatives are
underpinning our confidence in being able to continue to outperform the
market.

 

In Germany, we are trading strongly and remain on course to deliver
profitability in FY26 which is a key milestone for us as we progress towards
our longer-term target of double-digit returns on capital.

 

Interim results

 

The Group's interim results will be announced on 16 October 2025.

 

For more information please contact:

 Investor Relations - Whitbread                  investorrelations@whitbread.com (mailto:investorrelations@whitbread.com)
 Peter Reynolds, Director of Investor Relations  peter.reynolds@whitbread.com
 Kirsten O'Reilly, Investor Relations Manager    kirsten.oreilly@whitbread.com (mailto:kirsten.oreilly@whitbread.com)
 Kitty Hobhouse, Investor Relations Manager      kitty.hobhouse@whitbread.com (mailto:kitty.hobhouse@whitbread.com)

 Media - Brunswick                               whitbread@brunswickgroup.com
 Tim Danaher                                     +44 (0) 20 7404 5959

 

A live Q&A teleconference for investors and analysts will be held at
8:00am GMT on 19 June 2025. Details to join are noted below. An on-demand
version of this will be made available on the website
(www.whitbread.com/investors/results-reports-and-presentations
(http://www.whitbread.com/investors/results-reports-and-presentations) )
shortly after.

 

Q&A teleconference participant dial-in numbers:

Start time - 8:00am GMT

United Kingdom (Local): 020 3936 2999

Participant Access Code: 144796

Appendix

 

1)   Premier Inn UK key performance indicators

                                                                        FY25                       FY26
                                                        Q1      Q2      Q3      Q4      Full Year  Q1      Q1(2)

                                                                                                           %
 London
 Occupancy (full inventory)                             78.6%   84.3%   83.1%   76.2%   80.5%      76.6%   (2.0)pp
 Average room rate (£)                                  109.12  116.65  112.47  93.65   108.24     105.88  (3.0)%
 Revenue per available room (£)                         85.77   98.32   93.49   71.34   87.17      81.07   (5.5)%
 Total accommodation sales (£m)                         120.0   138.5   133.9   102.7   495.2      117.2   (2.4)%

 Regions
 Occupancy (full inventory)                             82.6%   84.3%   83.9%   73.6%   81.1%      79.1%   (3.5)pp
 Average room rate (£)                                  71.00   84.77   74.43   60.89   73.17      72.92   2.7%
 Revenue per available room (£)                         58.67   71.45   62.43   44.84   59.35      57.68   (1.7)%
 Total accommodation sales (£m)                         374.1   456.2   398.7   286.0   1,515.0    367.8   (1.7)%

 Total
 Occupancy (full inventory)                             81.9%   84.3%   83.7%   74.1%   81.0%      78.6%   (3.3)pp
 Average room rate (£)                                  77.59   90.53   81.35   67.09   79.52      78.85   1.6%
 Revenue per available room (£)                         63.54   76.31   68.12   49.72   64.42      62.00   (2.4)%
 Total accommodation sales (£m)                         494.1   594.7   532.7   388.7   2,010.2    485.0   (1.8)%

 Total accommodation sales growth vs M&E market(1)      +0.5pp  +0.5pp  +1.1pp  +0.5pp  +0.7pp     +1.7pp
 RevPAR premium vs M&E market(1)                        £4.84   £5.74   £5.50   £3.33   £4.83      £5.63   £0.79

 F&B and other Premier Inn UK sales
 Food and beverage sales (£m)                           184.7   168.2   154.6   145.5   653.0      155.2   (16.0)%
 Other Premier Inn UK sales (£m)                        6.4     6.9     7.8     7.2     28.3       8.1     26.2%
 Total F&B and other UK sales (£m)                      191.0   175.1   162.4   152.7   681.2      163.2   (14.6)%

 Total UK sales (£m)                                    685.2   769.8   695.1   541.4   2,691.4    648.2   (5.4)%

 

2)   Premier Inn Germany key performance indicators

 

                                                    FY25                     FY26
                                      Q1     Q2     Q3     Q4     Full Year  Q1     Q1(2)

                                                                                    %
 Occupancy (full inventory)           64.6%  72.0%  73.5%  61.1%  67.8%      67.4%  2.8pp
 Average room rate (£)                75.22  76.28  81.07  66.56  75.08      79.49  5.7%
 Revenue per available room (£)       48.61  54.95  59.61  40.70  50.90      53.58  10.2%
 Total accommodation sales (£m)       46.5   52.6   58.0   40.5   197.6      53.4   14.9%
 Total food and beverage sales (£m)   7.6    8.3    9.5    7.7    33.0       9.2    22.1%
 Total sales (£m)                     54.0   60.8   67.5   48.2   230.6      62.7   15.9%

 

 

 

                                                     FY25                     FY26
                                       Q1     Q2     Q3     Q4     Full Year  Q1     Q1(2)

                                                                                     %
 Occupancy (full inventory)            64.6%  72.0%  73.5%  61.1%  67.8%      67.4%  2.8pp
 Average room rate (€)                 87.88  90.05  96.89  80.02  89.08      94.11  7.1%
 Revenue per available room (€)        56.79  64.87  71.25  48.93  60.39      63.43  11.7%
 Total accommodation sales (€m)        54.3   62.0   69.3   48.7   234.4      63.3   16.5%
 Total food and beverage sales (€m)    8.8    9.8    11.3   9.2    39.2       10.9   23.7%
 Total sales (€m)                      63.1   71.8   80.7   57.9   273.6      74.2   17.5%

 

Notes:

1: STR data, standard basis, 28 February 2025 to 29 May 2025, M&E market
excludes Premier Inn

2: Sales growth versus Q1 FY25

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