Whitbread PLC (OTCPK:WTBCF)
$ 37.244 0 (0%) Market Cap: 6.52 Bil Enterprise Value: 12.21 Bil PE Ratio: 21.83 PB Ratio: 1.50 GF Score: 79/100
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Q1 2024 Whitbread PLC Trading Statement Call Transcript

Jun 22, 2023 / 07:00AM GMT
Release Date Price: $42.8
Dominic J. Paul
Whitbread plc - CEO & Director

Thank you very much for joining the call today for the Q1 trading update. I am joined by Hemant Patel, our Group CFO. Hopefully, you've had a chance to review the Q1 release this morning. I'll start with a brief overview for those who haven't seen it before opening up the call for Q&A, where Hemant and I will be happy to answer your questions.

During this first quarter, which ran to the 1st of June, we continued to trade strongly in the U.K. and have again delivered a fantastic set of results with RevPAR up plus 16% versus last year and plus 40% versus full year 2020. We also maintained a healthy GBP 6 RevPAR premium versus the rest of the midscale and economy market. Food and beverage sales in the quarter were 10% ahead of last year, reflecting a number of the commercial initiatives we put in place in the second half of last year. And turning to Germany, we continue to make good progress and have 56 hotels now open with a further 32 in the committed pipeline.

Our trading in the quarter was robust with total estate RevPAR of EUR 55

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