Whitbread PLC’s Premier Inn has reported strong growth over the last year, and despite trading in a period of ‘consumer uncertainty’, has outperformed the hotel market.
Total sales for the budget hotel brand have risen by 18 per cent since last year, which Whitbread attribute to the increasingly strong demand for value-for-money facilities amongst corporate buyers.
The credit crunch has not deterred Premier Inn from their £100m expansion plan this year, and with 14 new hotels and 1,157 rooms opened in this period alone, the chain is on course to hit their target of 4,000 new rooms for the year.
Alan Parker, Chief Executive of Whitbread PLC, said: “Whitbread has continued to be resilient in a period of consumer uncertainty. We believe this to be a result both of the action taken in recent years to re-shape the group and our continuing emphasis on value for money.
“Our strong balance sheet and disciplined approach to investment put us in a good position to take advantage of additional growth opportunities. We remain vigilant in these challenging economic times and are alert to whatever further action is required.”
Whitbread have also announced a rise in total sales of six per cent for its pub restaurants this year, with like for like sales up four per cent.