21st Jun 2016 06:15
LONDON (Alliance News) - Whitbread PLC on Tuesday reported growth in sales in the first quarter of its financial year and said it is confident of making good progress in the full year.
The owner of the Premier Inn hotel chain and Costa coffee shop brand said total sales in the 13 weeks ended June 2 grew by 8.0% on the same period the year before, as like-for-like sales rose by 1.8%.
At Premier Inn, total sales were also up 8.0% and like-for-likes were up 2.1%, while Costa saw total sales growth of 12% as like-for-likes increased by 2.6%.
Whitbread said the hotel market has continued to be soft in the UK, but Premier Inn benefited from its hotel extension programme. Revenue per available room declined by 1.2% as a result of the soft market environment. Premier Inn plans to open 4,000 to 4,500 new hotel rooms in the current financial year.
Meanwhile, Whitbread noted that Costa started the year well and remains on track to open 230 to 250 stores worldwide in the full year, while increasing its target to install new Costa Express machines this year to at least 1,250.
"Although it is early in our new financial year and despite current market conditions, with the benefit of our cost efficiency programme we remain confident of making good progress for the full year," Chief Executive Alison Brittain said in a statement.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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