Whitbread PLC (LSE:WTB) held full-year guidance as robust demand for hotels supported occupancy and pricing in the third quarter of the 2024 financial year.
For the 13 weeks to 30 November, Whitbread said Premier Inn UK sales rose 11% compared with the same period the year before, with strong demand in both London and the regions.
Total RevPAR increased 9% during the period and was up 39% versus pre-pandemic financial year 2020, with high occupancy and strong pricing.
Food and beverage continued to perform well with sales up 6%.
In Premier Inn Germany, sales jumped 47% with total estate RevPAR at €60.
Whitbread said the strong trading has continued into the fourth quarter with UK accommodation sales 12% ahead of financial 2023 with RevPAR up 10% versus 2023 and 39% ahead of financial 2020.
Looking ahead to financial 2025, Whitbread said it expects net UK cost inflation between 3% and 4% on its £1.7-£1.8 billion cost base, including operational efficiencies of between £40-£50 million.
“With a positive forward booked position in the UK, a favourable supply environment, a clear commercial plan and cost efficiencies, we remain confident in the FY25 outlook,” it said.
It added Germany remains on track to break even on a run-rate basis during the calendar year 2024.