Premier Inn up 8.1% for first quarter sales

Premier Inn up 8.1% for first quarter sales

The UK’s largest budget hotel chain Premier Inn today reported total sales up by 8.1% in the 13 weeks to June 2.

Parent company Whitbread, which also runs the Costa coffee shop chain and restaurants, saw total sales in the first quarter of its financial year up by 9.2% over the same period in 2010. Total room nights sold rose by 5.9% to 2.9 million, with like-for-like occupancy at 75.3% against 75.1%.

Premier Inn’s like-for-like revenue per available room (revpar) grew by 2.4% with occupancy up 0.2 percentage points and rate up 2.2%. Revpar grew by 8.8% in London and by 1.2% in the provinces.

The company has added 743 new rooms and three restaurants and plans to open around 4,000 rooms and 14 restaurants by the end of the year.

Chief executive Andy Harrison said: “Total sales increased by 9.2% with like for like sales up 1.7% although our business was adversely affected by the extended Easter and Royal Wedding holiday.

“Since then Costa and Premier Inn have traded well. Premier Inn revpar is continuing to benefit from a stronger London market, whereas in the provinces our restaurants are being impacted in a more difficult casual dining market.

“We are confident that investing in our strong brand propositions of Premier Inn and Costa and introducing further value offers in restaurants will enable us to win market share and deliver good returns for our shareholders.”


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