1st Mar 2005 07:00
Whitbread PLC1st March 2005 1st March 2005 Budget hotels lead growthWhitbread PLC 50 week trading update Today Whitbread PLC announces total group sales growth of 7.7% for the first 50weeks (to 17th February 2005) of its financial year. Like-for-like sales wereahead by 2.9% (2.7% in 2003/4): 50 weeks FY 03/04Premier Travel Inn* 6.7% 3.6%Marriott 3.9% (0.2)%Pub restaurants 1.6% 2.2%High street restaurants 1.6% 3.1%David Lloyd Leisure 3.8% 5.2%Group 2.9% 2.7% * excludes former Premier Lodge hotels Alan Parker, chief executive, said: "At a time of transition for Whitbread, wecontinue to drive steady underlying sales growth. "Premier Travel Inn has had an outstanding year, with second-half like-for-likesales ahead of a very strong first half. This performance has been driven byyear-on-year gains in both occupancy and room rate. Today we complete asix-month programme to establish Premier Travel Inn as the UK's biggest hotelbusiness, through the integration of Premier Lodge with Travel Inn. The bringingtogether of 457 hotels under one brand has been achieved on time and to budget. "In a gradually improving trading environment for full-service hotels, Marriotthas grown organic sales. Growth slowed in the last quarter of 2004 as theongoing weakness of the US Dollar held back business from North American guests.However, we have been encouraged by our performance since the turn of the year. "We have enjoyed stronger trading in our pub restaurants in the second-half ofthe year. The performance of Beefeater is particularly encouraging. Our largestpub restaurant brand, Brewers Fayre continues to deliver steady growth, butBrewsters remains disappointing and, as we have announced already, we areconsolidating these outlets within Brewers Fayre. "The performance of our high street restaurants business has been led by anothergood year for Costa, while total sales across the division have been driven bystrong outlet growth in Pizza Hut and Costa. "David Lloyd Leisure continues to deliver creditable like-for-like sales growth,although we have witnessed a dip in membership in mature clubs. We are seeinggood performances from our clubs in the Netherlands and Belgium (neither yetincluded in like-for-like comparison) and new club openings in the UK. "With sales growing faster than in recent years we remain confident for theoutlook of the group and expect to report a satisfactory set of results on April26th." -ends-Conference call for analysts:Whitbread PLC finance director, David Richardson will be available for a conference call at 8.25am today, 1st March 2005.UK: +44 (0)20 7365 1849 USA: +1 718 354 1172Contact:Investor relations: Dan Waugh on 020 7806 5442; Simon French on 020 7806 5432Press office: Anna Glover on 020 7806 5437 Notes - Glossary of terms contained in announcement Like-for-like salesPeriod over period change in total sales, less sales generated by businessesacquired or disposed of and retail outlets opened or closed during the currentyear and the previous year. Hotels - Achieved Room Rate (ARR) Hotel accommodation income divided by the number of rooms occupied by guests. Occupancy Number of hotel bedrooms occupied by guests expressed as a percentage of thenumber of bedrooms available in the period. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Whitbread