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Whitbread Q3 Total Sales Down 54.3% - Quick Facts

Whitbread Plc (WTB.L) reported that its third-quarter total sales declined 54.3%, with total accommodation sales decreased 54.5%. Total food & beverage for the quarter sales were down 53.8%.

The company said that the U.K government COVID-19 restrictions continued to create very challenging hotel market conditions. As a result, total UK accommodation sales were down 55.2% with occupancy at 49.3%.

Total UK accommodation sales were down 66.4% for the 5 weeks to 31 December 2020 with occupancy at 31.1%.

Premier Inn UK total sales were 54.7% down in third-quarter reflecting the ongoing Government restrictions on the operations of hotels and restaurants.

The company noted that theGovernment restrictions on the German hotel market are similar to those in the UK with limited business to business travel and no leisure travel permitted. As in the UK, this is impacting the company's performance, with total Germany sales down 54.7% in the five weeks to 31 December 2020. Total Group sales were down 73.3% in the same period.

The company expects the current travel restrictions in the UK and Germany to remain until at the very least the end of itsfinancial year. With the vaccination program underway, the company looks forward to the potential gradual relaxation of restrictions from the Spring, business and leisure confidence returning, and itsmarket recovering over the rest of the year.

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