Strong demand for budget hotel and coffee gives Whitbread a boost
STRONG demand for its budget hotels and coffee shops helped Whitbread brew up a 12.5 per cent rise in quarterly sales.
Although the Premier Inn and Costa Coffee owner has seen a slowdown in underlying group sales growth to 4.3 per cent from 6.5 per cent last year, chief executive Andy Harrison said it had “started the year well”.
Turnover at Costa’s cafes open at least a year was up 5 per cent and Premier’s sales grew 6.3 per cent, while custom at its restaurants was up just 0.1 per cent.
Our leading brands continue to win market share
Harrison will be succeeded in December by Lloyds’ head of retail banking Alison Brittain. He said: “Our leading brands continue to win market share.”
Its shares rose 30p to 5070p.