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Whitbread PLC (WTB.L)

WTB.L on London Stock Exchange

4,259.00GBp
16 Oct 2019
Change (% chg)

-20.00 (-0.47%)
Prev Close
4,279.00
Open
4,233.00
Day's High
4,295.00
Day's Low
4,196.00
Volume
539,407
Avg. Vol
700,020
52-wk High
5,162.00
52-wk Low
3,927.00

Latest Key Developments (Source: Significant Developments)

Whitbread Announces Acquisition Of Portfolio Of Three Independent Hotels In Germany​
Monday, 23 Sep 2019 

Sept 23 (Reuters) - Whitbread PLC ::WHITBREAD PLC - ACQUISITION IN GERMANY.WHITBREAD PLC - ACQUISITION CONSIDERATION WILL NOT BE DISCLOSED.WHITBREAD PLC - WHITBREAD'S RETURN ON CAPITAL FROM ACQUISITION IS EXPECTED TO BE ABOVE ITS WEIGHTED-AVERAGE COST OF CAPITAL.WHITBREAD PLC - ACQUISITION OF A PORTFOLIO OF THREE INDEPENDENT HOTELS IN GERMANY, FROM A PRIVATE INDIVIDUAL OPERATING UNDER BRAND "ACOMHOTEL".WHITBREAD - ONCE CONVERTED, HOTELS WILL BE RELAUNCHED AS PREMIER INN HOTELS, WHICH IS EXPECTED TO BE IN EARLY 2020.  Full Article

Brexit Uncertainty Hurts Demand At Whitbread
Wednesday, 19 Jun 2019 

June 19 (Reuters) - Whitbread PLC ::Q1 FY20 TRADING UPDATE.TENDER OFFER TO BE LAUNCHED 20 JUNE TO RETURN UP TO £2 BILLION, SUBJECT TO SHAREHOLDER APPROVAL.Q1 UK TOTAL ACCOMMODATION SALES DECLINED 1.5% IN QUARTER DUE TO WEAK TRADING CONDITIONS.IN-LINE WITH PREVIOUS GUIDANCE, CAUTION ON UK BUSINESS ENVIRONMENT GIVEN MACRO UNCERTAINTY.GERMAN EXPANSION FIRMLY ON TARGET, WITH 7,000 ROOMS OPEN AND COMMITTED.ON PLAN WITH OUR EFFICIENCY PROGRAMME HELPING TO PARTIALLY OFFSET HIGH INDUSTRY INFLATION.NEW HOTEL OPENING IN HAMBURG IS PERFORMING ABOVE OUR EXPECTATIONS AND OUR HOTEL IN FRANKFURT CONTINUES TO PERFORM WELL.WHITBREAD EXPECTS TO ADD 3,000 TO 3,500 ROOMS IN UK AND OVER 2,000 IN GERMANY.WILL OPEN ANOTHER TWO ORGANIC SITES DURING THIS FY AND COMPLETE FIRST TRANCHE OF 19-HOTEL FOREMOST HOSPITALITY ACQUISITION IN GERMANY.QTRLY TOTAL UK LFL REVPAR DOWN 6.0%.QTRLY TOTAL UK TOTAL REVPAR DOWN 6.3%.WEAKER BUSINESS AND LEISURE CONFIDENCE HAS CONTINUED COINCIDING WITH ONGOING POLITICAL AND ECONOMIC UNCERTAINTY IN UK.WEAKER BUSINESS AND LEISURE CONFIDENCE HAS CONTINUED COINCIDING WITH ONGOING POLITICAL AND ECONOMIC UNCERTAINTY IN UK.POLITICAL UNCERTAINTY IMPACTED DOMESTIC HOTEL DEMAND, PARTICULARLY IN REGIONAL BUSINESS MARKET, WHERE MOST PREMIER INN HOTELS ARE LOCATED.DIFFICULT TO PREDICT HOW BUSINESS CONFIDENCE AND BUSINESS INVESTMENT WILL EVOLVE OVER YEAR.PREMIER INN'S UK TOTAL ACCOMMODATION SALES DECLINED 1.5% IN Q1 AND F&B PERFORMANCE ALSO DECLINED SLIGHTLY.  Full Article

Whitbread Announces 2 Bln Stg Tender Offer In Second Phase of Capital Programme
Friday, 31 May 2019 

May 31 (Reuters) - Whitbread PLC ::WHITBREAD PLC - TENDER OFFER.WHITBREAD - PROPOSED RETURN OF UP TO £2 BILLION TO SHAREHOLDERS BY WAY OF A TENDER OFFER, AS SECOND PHASE OF POTENTIAL 3-PHASE RETURN OF CAPITAL PROGRAMME.WHITBREAD PLC - APPROXIMATELY £480 MILLION RETURNED TO SHAREHOLDERS THROUGH REPURCHASE OF ORDINARY SHARES PURSUANT TO COMPANY'S SHARE BUYBACK PROGRAMME.WHITBREAD PLC - BOARD HAS DECIDED THAT APPROPRIATE SECOND PHASE IS TO CONDUCT A TENDER OFFER TO RETURN A MAXIMUM OF £2 BILLION.WHITBREAD - IF LESS THAN £2 BILLION RETURNED THROUGH TENDER OFFER, WILL CONSIDER POSSIBLE THIRD PHASE TO RETURN REMAINING SURPLUS CASH.  Full Article

Whitbread FY Underlying Pretax Profit Increased By 1.2 Pct To 438 Mln Stg
Tuesday, 30 Apr 2019 

April 30 (Reuters) - Whitbread PLC ::PRELIMINARY RESULTS ANNOUNCEMENT.FY UNDERLYING PROFIT BEFORE TAX INCREASED BY 1.2% TO £438 MILLION.FULL YEAR DIVIDEND OF 99.65P (FY18: 101.15P).FY STATUTORY PROFIT BEFORE TAX £260M VERSUS £426M.FY UNDERLYING REVENUE £2,049M VERSUS £2,007M.TOTAL UK ACCOMMODATION SALES GROWTH OF 3.5%, REFLECTING ADDITIONAL CAPACITY IN FY.FY UK LIKE-FOR-LIKE(†) ACCOMMODATION SALES (0.6)% IMPACTED BY SOFT DEMAND, ESPECIALLY IN Q4.FURTHER WEAKENING IN MARKET DEMAND SINCE START OF FY20, PARTICULARLY IN REGIONS WHERE MOST OF PREMIER INN'S HOTELS ARE LOCATED.DURING YEAR PREMIER INN UK DELIVERED TOTAL ACCOMMODATION SALES GROWTH OF 3.5% THROUGH FURTHER CAPACITY ADDITION.HOTEL IN FRANKFURT CONTINUES TO PERFORM WELL AND HAS REACHED A MATURE LEVEL OF MARKET OCCUPANCY.PLANNING SOME OPERATIONAL DIS-SYNERGIES OF AROUND £10 MILLION FOLLOWING SALE OF COSTA FOR FY20.OUR FOCUS ON EFFICIENCY REMAINS IMPORTANT AS INDUSTRY COST INFLATION CONTINUES.GERMAN LOSSES EXPECTED TO BE APPROXIMATELY £12 MILLION FOR FY20."THERE ARE ONGOING SIGNS OF MARKET WEAKNESS ACROSS BOTH BUSINESS AND LEISURE, ESPECIALLY IN UK REGIONS".IN Q4, WE SAW A DECLINE IN BUSINESS AND LEISURE CONFIDENCE, LEADING TO WEAKER DOMESTIC HOTEL DEMAND.WEAKER DOMESTIC HOTEL DEMAND HAS INCREASED INTO MARCH AND APRIL PARTICULARLY IN REGIONAL BUSINESS MARKET.UK ENVIRONMENT REMAINS SUBDUED AND SUSTAINED INFLATION CONTINUES TO BE A SIGNIFICANT CHALLENGE.  Full Article

Whitbread Announces Plans For Further 220 Mln Stg In Savings
Wednesday, 13 Feb 2019 

Feb 13 (Reuters) - Whitbread Plc ::EFFICIENCY PROGRAMME EXTENDED TO A FURTHER 220 MILLION STG OPEX & CAPEX SAVINGS OVER THREE YEARS.OPTIMISED CAPITAL STRUCTURE ENABLES AT LEAST 2.5 BILLION STG TO BE RETURNED TO SHAREHOLDERS.FOCUSED ON DELIVERY OF STRUCTURAL GROWTH OPPORTUNITIES AVAILABLE TO PREMIER INN IN UK AND INTERNATIONALLY.DOUBLING LONG-TERM NETWORK POTENTIAL TO MORE THAN 170,000 ROOMS IN THE UK & INTERNATIONALLY.SEEKS TO COMPLETE 2 BILLION STG TENDER OFFER FOLLOWING VOTE FROM SHAREHOLDERS TO BE CONDUCTED ALONGSIDE AGM ON 19 JUNE 2019.GERMANY IS A LARGER AND SIGNIFICANTLY MORE FRAGMENTED TRAVEL MARKET THAN THE UK, WITH OVER 900,000 ROOMS.FOR PREMIER INN, FREEHOLD PROPERTY ESTATE'S CURRENT VALUATION IS 4.9 BLN STG - 5.8 BLN STG.TARGETED SAVINGS INCLUDE 120 MILLION STG OF OPERATING COST SAVINGS AND 100 MILLION STG OF CAPITAL COST SAVINGS OVER THE NEXT THREE YEARS.  Full Article

Whitbread Says Proposing To Reorganise Premier Inn Hotels Management Structure
Monday, 1 Oct 2018 

Oct 1 (Reuters) - Whitbread PLC ::SAYS PROPOSING TO REORGANISE PREMIER INN HOTELS MANAGEMENT STRUCTURE.SAYS PROPOSALS WILL AFFECT ABOUT 790 OPERATIONS MANAGERS AT PREMIER INN.SAYS CREATING NEW ROLES TO REPLACE OPERATIONS MANAGERS AT PREMIER INN, WILL SEEK TO MATCH EXISTING EMPLOYEES WITH NEW POSITIONS.WHITBREAD SAYS WILL SEEK TO MATCH EXISTING EMPLOYEES WITH NEW POSITIONS AS WELL AS EXISTING VACANCIES.WHITBREAD DECLINES TO COMMENT WHEN ASKED IF JOBS WILL BE CUT OVERALL.  Full Article

Whitbread To Sell Costa To Coca-Cola For 3.9 Bln Stg
Friday, 31 Aug 2018 

Aug 31 (Reuters) - Whitbread PLC ::PROPOSED SALE OF COSTA TO THE COCA-COLA COMPANY.SALE OF COSTA FOR AN ENTERPRISE VALUE OF £3.9 BILLION.SALE OF COSTA FOR AN ENTERPRISE VALUE OF £3.9 BILLION, REPRESENTING A MULTIPLE OF 16.4X COSTA FY18 EBITDA.RECOGNISES STRATEGIC VALUE OF COSTA'S BRAND STRENGTH, MULTI-CHANNEL PRESENCE AND INTERNATIONAL GROWTH POTENTIAL.TRANSACTION UNANIMOUSLY AGREED BY WHITBREAD BOARD TO BE IN BEST INTERESTS OF SHAREHOLDERS.NET CASH PROCEEDS EXPECTED TO BE APPROXIMATELY £3.8 BILLION AT COMPLETION, AFTER ADJUSTING FOR ESTIMATED TRANSACTION COSTS AND SEPARATION COSTS.WHITBREAD WILL ALSO REDUCE FINANCIAL INDEBTEDNESS.WHITBREAD WILL ALSO REDUCE FINANCIAL INDEBTEDNESS AND MAKE A CONTRIBUTION TO PENSION FUND.WILL BOTH PROVIDE HEADROOM FOR FURTHER EXPANSION OF PREMIER INN IN UK AND GERMANY.TRANSACTION IS CONDITIONAL UPON AGREEMENT BY WHITBREAD'S SHAREHOLDERS AND VARIOUS OTHER APPROVALS.SIGNIFICANT MAJORITY OF NET CASH PROCEEDS FROM DEAL INTENDED TO BE RETURNED TO SHAREHOLDERS.AS PART OF DEAL, DOMINIC PAUL WILL REMAIN AS COSTA MANAGING DIRECTOR AND WILL NO LONGER BE A MEMBER OF WHITBREAD EXECUTIVE COMMITTEE.EXPECTS TO REACH AGREEMENT WITH OTHER STAKEHOLDERS, SUCH AS PENSIONS TRUSTEES, IN RELATION TO EXTENT OF CONTRIBUTIONS TO PENSION DEFICIT.WHITBREAD AND COCA-COLA HAVE ALSO ENTERED INTO A TRANSITIONAL SERVICES AGREEMENT.WHITBREAD HAS AGREED TO PROVIDE VARIOUS SERVICES INCLUDING IT, PROCUREMENT AND HR SERVICES TO COCA-COLA FOR 12-24 MONTHS.  Full Article

Whitbread To Simplify Management Teams In Restaurants’ Business
Monday, 2 Jul 2018 

July 2 (Reuters) - Whitbread Plc ::PROPOSING TO SIMPLIFY MANAGEMENT TEAMS IN RESTAURANTS’ BUSINESS; PROPOSED CHANGES WOULD RESULT IN NUMBER OF MANAGERS LEAVING BUSINESS.  Full Article

Whitbread Says Chairman Richard Baker To Retire
Thursday, 4 Jan 2018 

Jan 4 (Reuters) - Whitbread Plc ::ANNOUNCES RETIREMENT OF RICHARD BAKER AS CHAIRMAN AND APPOINTMENT OF ADAM CROZIER​.‍CHAIRMAN, RICHARD BAKER, WILL BE RETIRING FROM BOARD AT NEXT FINANCIAL YEAR END, 28 FEBRUARY 2018​.  Full Article

Deals of the day-Mergers and acquisitions

Sept 23 The following bids, mergers, acquisitions and disposals were reported by 1330 GMT on Monday: