Report
Fehmi Ben Naamane

Whitbread : A Q1 trading update that reflects a sharp slowdown in activity

>Group revenue up +1% y-o-y - Whitbread this morning released its Q1 2024-25 trading update (13 weeks to 30 May) showing a significant slowdown (expected) vs recent quarters with group revenues up only 1% y-o-y to £ 739m. Hotel revenues in the UK were broadly flat at +0.3% over the quarter (RevPAR down -1.6%, o/w -5.5% in London) while F&B sales decreased by 1%. Germany continues to grow with revenues increasing by +15% y-o-y (o/w +15% in hotels and +13% in F&B). The...
Underlying
Whitbread PLC

Whitbread is a hospitality company. Co. serves its customers in the U.K. and beyond through its two businesses: Premier Inn and Restaurants; and Costa. Premier Inn is a hotel business, with over 760 hotels and more than 68,000 rooms as of Mar 2 2017. Co.'s hotel are located alongside its own restaurant brands. Co. also have hotels in the Middle East, and Germany, with more hotels in the pipeline. Costa is the coffee shop, with over 2,200 coffee shops in the U.K., over 1,300 stores in 29 international markets and over 6,800 Costa Express self-serve units as of Mar 2 2017.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Fehmi Ben Naamane

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