Efficiency Savings Exceed Expectations
Whitbread delivered £75 million of efficiency savings during the year, surpassing previous guidance, and successfully reduced the U.K. cost base by 1% despite ongoing inflation.
Strong Performance in Germany
Germany saw a significant improvement, with the brand maturing and a trading performance well ahead of the market, resulting in a significant reduction in loss before tax. RevPAR in Germany experienced double-digit growth.
Accelerated Shareholder Returns
Whitbread announced a further £250 million share buyback to be completed over the next 12 months, bringing forward returns under the five-year plan.
Confident Forward Bookings
Forward booked revenue position is ahead of last year, with strong bookings into the summer months, despite a softer U.K. demand.