Premier Inn sales slow
Monday, 02 Mar, 2009
0
Like for like sales at budget chain Premier Inn owner Whitbread have slowed in recent weeks, the company said today.
Announcing trading performance for the 50 weeks to February 12, the company’s chief executive Alan Parker said: “The sales trends we reported in December continued and in recent weeks group like-for-like sales have been predominantly negative, particularly due to lower occupancy in Premier Inn.
“Since the start of 2009, it has been difficult to establish any clear trends.”
However, he added that full year profits are anticipated to be in line with market expectations.
The UK’s largest hotel and restaurant group said that in the first year of a combined hotels and restaurants business, it has delivered an increase in total sales of 9.1% and like-for-like sales growth of 5.4%.
Parker said: “By the year end we will have 54 new hotels and just over 40,000 rooms in the UK. Eleven of these new hotels are on joint sites with a Whitbread branded restaurant taking the total restaurant estate to 372.
“Premier Inn’s Business Account is attracting larger business clients with total accounts up 48% year on year and total sales via this channel up 26% year to date.
“Revpar growth for the 50 weeks to 12 February was 2.9% on a like-for-like basis.
“Within restaurants like for like covers growth increased by 7.7% with spend per head falling 1.5%.”
He signalled a slowing in expansion in 2009-10 with capital expenditure to be halved to around £170 million.
“In these recessionary times operating well maintained, value for money hotel and restaurant brands offers significant opportunities for Whitbread to outperform in our market,” Parker added.
by Phil Davies
Phil Davies
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