IN BRIEF: Whitbread gets UK budget boost ahead of shareholder vote
Whitbread PLC - Dunstable, England-based operator of Premier Inn and other hospitality chains - Expects a significant improvement in its financial performance after the UK government decided to limit business rate increases for hospitality businesses in England. Whitbread estimates its business rates payments will rise by between GBP7.5 million and GBP12.5 million in financial 2028, compared with a previously expected increase of around GBP35 million, with a similar benefit anticipated in financial 2029. By financial 2029, Whitbread expects its business rates payments to be between GBP45 million and GBP60 million lower than previously forecast. The UK government plans to freeze business rates for two years, preventing above-inflation increases for hospitality properties, Chancellor John Healey announced in the budget on Wednesday. Read More