Premier Inn owner Whitbread is to reduce the number of restaurants in its portfolio and build more hotel rooms.
It plans to get rid of nearly 240 restaurants and add more than 3,500 hotel rooms, which could increase pre-tax profits by £90 million by 2029.
Whitbread said it will convert 112 restaurants into new hotel rooms and sell 126 less-profitable restaurant sites. The company has already sold 21, for £28 million.
The move will see around 1,500 jobs go, although Whitbread said it plans to offer alternative roles to some staff. Job cuts are still subject to consultation.
Restaurants will remain open as usual until they are sold. Whitbread has not yet said which brands have been earmarked for closure. Brands include Brewers Fayre, Beefeater, Thyme, and Whitbread Inns.
The announcement was made as Whitbread reported a 21% rise in overall pre-tax profit, to £452m for the year ending 29 February. However, it also revealed a 2% drop in sales across food and beverage in the first seven weeks of the current financial year.
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It plans to get rid of nearly 240 restaurants and add more than 3,500 hotel rooms, which could increase pre-tax profits by £90 million by 2029.
Whitbread said it will convert 112 restaurants into new hotel rooms and sell 126 less-profitable restaurant sites. The company has already sold 21, for £28 million.
The move will see around 1,500 jobs go, although Whitbread said it plans to offer alternative roles to some staff. Job cuts are still subject to consultation.
Restaurants will remain open as usual until they are sold. Whitbread has not yet said which brands have been earmarked for closure. Brands include Brewers Fayre, Beefeater, Thyme, and Whitbread Inns.
The announcement was made as Whitbread reported a 21% rise in overall pre-tax profit, to £452m for the year ending 29 February. However, it also revealed a 2% drop in sales across food and beverage in the first seven weeks of the current financial year.
The post Premier Inn owner to cut number of restaurants and build more hotel rooms appeared first on Travel Gossip.
Continue reading...
