Whitbread : Strong recovery in Q1; pre-Covid levels largely exceeded
>Q1 revenues largely exceed pre-Covid levels - Whitbread published its trading update at end-May this morning. The figures provided by the management are very good since revenues are well above pre-crisis levels (those from Q1 2020 to end-May 2019) by 31% for hotels in the UK (and -4.3% for catering). UK RevPAR was up 20% l-f-l vs 2019 (+22% in the regions and +13% in London). These figures confirm the outperformance of hotels in the UK vs Europe, with a very dynamic...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.
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.
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