Whitbread’s first quarter sales rose 2% to £0.7bn. Improvements in both price and occupancy helped drive a 3% rise in UK accommodation sales, up from 1.9% in the first eight weeks, which more than offset weaker food and beverage sales.
In Germany, accommodation sales rose 13% before currency moves, accelerating from 9% in the first eight weeks, driven largely by increased capacity and a 5% contribution from organic growth.
Forward bookings in both the UK and Germany are ahead of last year.
The shares were flat in early trading.
Our view
HL view to follow.
Whitbread key facts
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