Premier Inn owner Whitbread narrowed interim losses as sales rebounded was ahead of expectations, with room revenues potentially hitting full recovery “at some point” in 2022 despite “challenging” supply chain issues and labour shortages.
Pre-tax losses for the six months to September 30 came in at £19.3m, compared to year-on-year losses of £724.7m. On a two-year pre-pandemic basis, the loss compared with a £220m profit.
Revenue more than doubled to £661.6m, but was still 39% below the £1.08bn for the two-year period.
“Whitbread traded significantly ahead of the market in the UK during the first half of the year, with our regional hotels trading ahead of pre-COVID-19 levels in the last six weeks of the half,” said chief executive Alison Brittain.
“This strong performance has continued into the second half, with sustained high levels of leisure demand and resilient demand from tradespeople.”
“The operating environment during the summer and into autumn has been challenging largely as a result of our very high occupancy levels, market-wide supply chain issues and a tighter labour supply in the hospitality sector,” she said.
