Whitbread Share Discussion Threads

[bountyhunter] 18/10/2023 18:45

Found what I was looking for on the website ...the majority of properties (57%) are freehold with 43% leasehold. New properties not yet open are in roughly in the same proportions wrt freehold vs leasehold.

[bountyhunter] 18/10/2023 18:01

I don't see possible block bookings as any kind of problem as if for the reasons mentioned they are not likely to be decreasing anytime soon.
Overall this morning's update was extremely encouraging imv.

Regarding owning their hotels they have been buying up more freeholds although admittedly I don't have the full picture available.

"Having taken advantage of a number of high returning freehold purchases in the UK, Ireland and Germany, we are increasing our FY24 gross capex guidance to GBP500-GBP550m (up from GBP400-GBP450m previously)"

[m_kerr] 18/10/2023 17:47

WTB have very strong momentum in their trading, and it's a well run business that is popular with it's customers. the thing that stops me investing is the commitment to weakening the balance sheet by moving further away from freehold ownership. rather than chase 'growth', they should be content with lower estate growth, but using the reliable free cash flow to buy back freeholds, and their own stock when either are cheap. i.e per share cash flow growth, which is what matters to shareholders.

.

[bountyhunter] 18/10/2023 14:18

You're welcome C10.

Yes this is a well run UK business with a well run German business to look forward to if that new arm of the business continues to progress well.

I'm pleased with the new CEO who has a wealth of valuable experience including from his time as CEO of Domino's Pizza. His name, Dominic Paul, serves to remind us of his successful tenure of Domino's! (ok, excuse the puns, I'm getting carried away lol).

From previous news...
"Dominic Paul, will start at the company on January 10. He will join the board on January 17 when he will take over from Alison Brittain as CEO. Brittain will remain on the board as a director until March 2 to ensure a smooth transition and orderly handover. Whitbread ends its financial year in late February.

In June [2022], Whitbread named Domino’s Pizza Group PLC’s Paul as its new CEO, as Brittain announced plans to retired after seven years with the company. Paul has been CEO of the FTSE 250-listed pizza delivery chain since May 2020. Prior to his role as Domino’s CEO, Paul was CEO of the coffee shop chain Costa Coffee Ltd for three years, before it was sold by Whitbread to the Coca-Cola Co in 2019. During this period, Paul was also a member of the Whitbread executive committee."

[philanderer] 18/10/2023 14:12

Premier Inn owner says rise in independent hotel closures has boosted its sales

Whitbread said there are fewer hotel rooms on the market to meet strong levels of demand.

[commuter10] 18/10/2023 13:27

Thanks for your information Bountyhunter. A big market to expand further in then which is good as the U.K. becomes more saturated in PI hotels.

[bountyhunter] 18/10/2023 13:12

The German business is a growth business heading nicely towards profitability and a decent return on capital but not there yet, but I wouldn't expect it to be. The scale in Germany is small compared to the UK operations but anticipated to grow so an interesting part of the business.

"Despite ongoing inflationary pressures, adjusted profit before tax increased by 44% to GBP391m, including reduced adjusted losses before tax in Germany of GBP14m"

[commuter10] 18/10/2023 12:43

This Excellent News on what has been a pretty bumpy ride over the last few years. How much of these results is down to the German operation anyone?

[togglebrush] 18/10/2023 12:25

THE DATE ON POST #2165 was copied ftom the RNS
'
The interim dividend will be paid on 8 December 2023 to all shareholders on the register at the close of business on 3 November 2023.
'
Apologies if this is wrong

[bountyhunter] 18/10/2023 12:16

Ok I have also filled in the gaps in the div info in the header to show previous dividends (taken from div max). Any mistakes please let me know!

[bountyhunter] 18/10/2023 09:56

Thanks libertine, corrected, I took the XD date from toggle's post #2163 earlier but should have double checked it. Only about two weeks away.

[philanderer] 18/10/2023 09:40

Nowt wrong with those results :-)

[bountyhunter] 18/10/2023 08:29

An excellent set of results, even more impressive given the economic backdrop and state of the markets generally.

Header updated with dividend info.

[tlobs2] 18/10/2023 08:28

That might even wake up a few dopey analysts :-)

[dartboard1] 18/10/2023 08:21

Yes- good start for the new boss... upbeat outlook too. Unusual among most reporting currently

[tlobs2] 18/10/2023 08:19

Absolutely stunning performance. Well done to all involved.

[togglebrush] 18/10/2023 07:03

Interim dividend per share increased by 40% to 34.1p per share (H1
FY23: 24.4p) reflecting the strong H1 performance and our confidence in the
outlook. The dividend will be paid on 8 December 2023. Ex Div 3 November 2023.

[philanderer] 16/10/2023 14:37

Whitbread opens its first all-electric Premier Inn hotel

[philanderer] 16/10/2023 14:29

Interim results due wednesday.

[philanderer] 09/10/2023 10:38

Seems to have lost it's mojo at the moment.

Just booked a premier plus room for a couple of nights at the end of the month in Hereford. Free breakfasts with the shareholder card :-)

[oggyrocks] 30/9/2023 09:29

Stayed at a premier inn near Salisbury this week. Completely full. Lots of business and tradespeople staying.

Staff were very friendly and amicable. (Excellent sign).

Breakfast was great, again staff were smiley and happy.

An excellent experience all round. (Booked early and paid 74 for double). Couldn’t be happier. Staying at another one next week - will report back on that one.

[gswredland] 28/9/2023 13:21

Thanks bounty

[bountyhunter] 26/9/2023 18:37

8 out of 8 buy ratings here, I think I'll ignore today's outlier ;)