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The Latest Breaking News from Whitbread

Stocks end winning week up despite hit for Premier Inn owner Whitbread

Whitbread slid 11% after warning that changes to business rates in Wednesday’s Budget will materially increase costs in the next financial year.

Evening Standard

Premier Inn owner’s costs to rise by up to £50m after business rates changes

Whitbread is among hotel owners to be hit hard by changes in valuations linked to next year’s business rates payments.

Evening Standard

Pub chain Mitchells & Butlers faces £130m hit from rising wage and food costs

Group, which also owns restaurant brands including Toby Carvery, feels impact of increase in employer NICs

The Guardian - UK

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FTSE 100 closes higher despite sluggish economic growth

The tepid progress for the economy recently could prompt the Office for Budget Responsibility to downgrade its economic assessment.

Evening Standard

Premier Inn sales slip in UK despite boost from Oasis gigs

Hospitality group Whitbread said it shaved millions of pounds off of its cost base in a bid to mitigate higher labour costs and food inflation.

Evening Standard

Premier Inn investors hoping for summer boost amid rising hotel prices

Whitbread, which also owns the Beefeater and Brewers Fayre chains, will publish its half-year financial results on Thursday.

Evening Standard

Coca-Cola Considers Selling UK's Costa Coffee In Shock £2bn Move — Just Years After £3.9b Takeover

Coca-Cola is considering selling Costa Coffee for £2B, nearly half of what it paid in 2018. Talks with Lazard and potential bidders are underway as the coffee chain faces rising costs and competition.

International Business Times UK

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Coca-Cola in talks about cut-price £2bn sale of Costa Coffee

American owner said to be working with bankers on review of chain, which has more than 2,000 UK outlets

The Guardian - UK

Whitbread sales under pressure amid overhaul and tough UK market

The group saw first-quarter accommodation sales fall 2% while food and drink plunged 16%.

Evening Standard

FTSE 100 nudges up ahead of Fed decision following broadly expected CPI data

The oil price fluctuated, with the Israel-Iran conflict entering its sixth day.

Evening Standard

Plans submitted for 102-bedroom Premier Inn in Scottish city centre

Plans to transform an old office building in Edinburgh’s city centre into a 102-bedroom Premier Inn have been submitted

The National (Scotland)

Premier Inn owner appoints Severn Trent boss as new chairwoman

Christine Hodgson joins partway through a five-year growth plan at the company, which involves building thousands more hotel rooms.

Evening Standard

FTSE 100 Live 27 May: Index nears record, BAE Systems and Rolls-Royce continue strong run

Buyers kept Rolls-Royce and BAE Systems in their sights today as the FTSE 100 index advanced another 1% to trade within reach of March’s record high.

Evening Standard

Controversial hotel approved for Cornwall beauty spot despite local anger

One councillor said ‘local democracy has been thrown out of the window’ after the decision

The Independent UK

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Evening Standard

Controversial hotel approved in St Ives despite fierce local opposition

Cornwall Council had originally refused planning permission for the 90-room Premier Inn at St Ives last year.

Evening Standard

FTSE 100 holds on to gains as US stocks boosted

The index managed to claw back losses from earlier in the day to gain 1.95 points, or 0.02%, to close at 8,496.8.

The Guardian - UK

Profits fall at Premier Inn owner Whitbread on drop in UK bookings

Shares rise on promises to return £2bn to investors through buybacks and dividends, and more hotel openings

Evening Standard

Whitbread profits slide amid restaurant closures and ‘softer’ UK demand

The company, which also owns Beefeater restaurants, told shareholders that adjusted pre-tax profits fell by 14%.

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The Guardian - UK

Jane Gardam obituary

Prolific novelist and short-story writer with a taste for the absurd

The Independent UK

Premier Inn owner’s sales drop as it converts restaurants to hotel rooms

Whitbread saw a 2% dip in quarterly sales amid a £500 million revamp of its estate of restaurants across the UK.

The Guardian - UK

NICs rise will force businesses to close, warn hospitality bosses

More than 200 leading restaurant, pub and hotel companies say tax rises will cause ‘unprecedented damage’

Evening Standard

FTSE 100 Live 04 November: Index rises ahead of election and rate decisions, Ryanair profit falls

Investors are braced for volatility as they await the outcome of the US election and this week’s meetings of the Bank of England and Federal Reserve.

The Guardian - UK

Premier Inn owner Whitbread ramps up cost-cutting plans as tax rise looms

Firm’s profits fall 22% and demand slows, with hospitality sector bracing for employer tax increase in budget

The Guardian - UK

Joan Brady obituary

Author of Theory of War, inspired by her grandfather’s experience of slavery in the US, which won the Whitbread book of the year award in 1993

The National (Scotland)

Union slams hospitality firm over 'plans to cut 200 jobs in Scotland'

A TRADE union has slammed a hospitality giant following reports of plans to axe 200 jobs in Scotland...

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