Latest news with #Whitbread
Times
2 days ago
- Business
- Times
Is it worth buying Whitbread shares right now?
It is only a matter of time before Whitbread changes its name to Premier Inn. Ever since it started the Travel Inn chain in 1987, augmented by Premier Lodge in 2004, hotels have gradually been elbowing other activities — brewing, coffee shops, pubs — out of the nest. It has reached the point where food and beverage revenues and profits are no longer broken out in the annual report's segmental analysis. Instead, the two named divisions are Premier Inn UK & Ireland, and Germany. The restaurants, under the names Beefeater, Brewers Fayre and others, are either being sold or turned into Premier Inn rooms. One or two particularly profitable outposts may linger, but even they will soon surely not be worth the management time to monitor them. So the group is changing before our eyes, and is heading towards becoming a UK and Europe-wide budget hotel chain. Much hard work has gone into adapting the Premier Inn formula for Germany since the first one opened in Frankfurt nine years ago. That will inspire a rollout to other countries. A toe has already been dipped in the water in Austria, and for some years there has been a Middle East joint venture with Emirates Group. The German experience will provide a natural platform for expanding to Scandinavia and other northern European territories. Dominic Paul, the chief executive, told The Times last month: 'We are proving Premier Inn can grow and that, once the right model is in place, we can grow quite quickly. We're getting to a point where the German business is learning from the UK business and the UK is learning from Germany.' It is still a work in progress, and the transition was well illustrated by the results for the year to the end of February. Total revenue and adjusted earnings before interest, tax, depreciation and amortisation actually edged down a touch, to £2.9 billion in the UK and £1 billion in Germany. UK business revenues fell 3 per cent to £2.7 billion, while revenues in Germany rose £41 million or 21 per cent to £231 million. UK adjusted pretax profit fell from £588 million to £507 million thanks to cost inflation and lower interest income. But cost savings in Germany cut the loss there from £36 million to £11 million, so it is going in the right direction and in 2025 profits should begin to flow. Paul seems to have imbibed the Peter Drucker idea of management by objectives. The latest Whitbread annual report is replete with targets, led by the three-pronged strategy to grow and innovate in the UK; focus on strengths to grow in Germany; and enhance capabilities to support long-term growth. There is, of course, a five-year plan, to recycle at least £1 billion of its most mature property, to generate at least £300 million of incremental profit, distribute more than £2 billion in share buy-backs and dividends, and expand the estate from 86,000 to 98,000 rooms, all by 2030. Some rooms will be converted from existing attached restaurants, and 5,000 are earmarked for Germany. As the group is deep into hospitality, it has been held back by sluggish economic growth in Germany and the UK, and the effects of last October's UK budget, which increased national insurance contributions and the minimum wage. That was reflected in the share price, which tumbled from £33 to £23. Since April, however, it has climbed nearly all the way back up, reaching £32 on the back of the general stock market recovery and the prospect of falling interest rates. The planned £250 million share buyback did no harm, either. Last month's first-quarter figures sent the analysts back to their spreadsheets, as total revenue and revenue per available room both fell by 2 per cent. The UK outside London was the laggard, while Germany steamed ahead by 16 per cent. None of that phased Paul, who preferred to point to the five-year plan. 'In the UK, we continue to outperform against a challenging market backdrop,' he said. Clearly the real returns are not going to break through until the economic background improves. Peel Hunt rates the shares a buy, saying: 'Whitbread continues to create value: room openings are accelerating, skewed to higher-priced London, business market penetration is growing and independent competitors are struggling.' They see earnings per share bursting from 193.4p to 234.3p by February 2028, for a prospective 13.2 price-earnings ratio and a 3.8 per cent dividend. ADVICE HoldWHY A sound long-term expansion prospect at the end of the road
Scottish Sun
17-07-2025
- Business
- Scottish Sun
Family favourite restaurant chain with 800 sites shuts ‘landmark' branch for good in huge blow to locals
Hints of a surprising takeover emerge after sudden closure of a long-standing restaurant LAST ORDERS Family favourite restaurant chain with 800 sites shuts 'landmark' branch for good in huge blow to locals A POPULAR restaurant that's become a local landmark has shut for good, leaving nearby residents gutted. The venue at Emersons Green in Bristol, served its last meal on Thursday July 10. 3 However, the neighbouring Premier Inn will remain open with its own integrated breakfast area for hotel guests. Credit: Beefeater 3 Nothing has yet been announced It's now listed as 'permanently closed' online, with no official signage or farewell notice on the former Beefeater building. However, the neighbouring Premier Inn will remain open with its own integrated breakfast area for hotel guests. Speculation is already circling online about what's next for the site, with some locals suggesting it may be taken over by the Papas Group – the team behind Papas Fish and Chips and Wendy's. Sudden closure A spokesperson for Whitebread Group, which owns Beefeater and Premier Inn, told BristolLive: 'We'd like to thank our wonderful guests and team for their service and custom over the years. 'The nearest Beefeater is now The Gifford (Fox Den Road, Stoke Gifford) and we do hope to welcome people there.' Whitbread added that the site had been sold to another restaurant business, but stopped short of naming which one. The closure comes as part of the company's 'Accelerating Growth Plan', which aims to replace underperforming restaurants with hotel rooms in high-demand areas. Over the next two years, Whitbread plans to exit 126 branded restaurants across the UK, 21 of which are being sold for £28 million . Britain's retail apocalypse: why your favourite stores KEEP closing down As part of the overhaul, the business will also be converting 112 restaurant spaces into integrated dining areas within its Premier Inn hotels – a format already used at 387 sites across the country. The plan is expected to cut around 1,500 roles out of a workforce of 37,000. However, Whitbread says it will try to offer alternative roles to affected staff through redeployment or its wider recruitment process, which sees around 15,000 hires each year. Dominic Paul, Chief Executive Officer of Whitbread, said: 'When I joined Whitbread as CEO in January 2023, it was clear to me that we had a high performing hotels business, with a strong platform for growth in both the UK and Germany. 'Our strategy of continuing to invest in our brand, teams, and estate for the benefit of our guests and customers has secured a market-leading position for Premier "Inn in the UK and is also delivering strong business performance. 'This plan is a further positive step, delivering a better experience for our hotel guests and helping to extend our market leadership in the UK. 'I recognise that these changes will be unsettling for affected team members and we are committed to working hard to enable as many as possible of those affected to stay with Whitbread... Our teams are at the heart of our guest experience.' This latest shutdown adds to a growing list of closures across the UK food scene. Other recent closures Recently, Frankie & Benny's axed 35 restaurants, Prezzo shut 46 sites, and Pizza Express pulled the plug on three branches. Even Nando's has quietly closed a coup. The Sun has approached Beefeater for further comment. Why are retailers closing stores? RETAILERS have been feeling the squeeze since the pandemic, while shoppers are cutting back on spending due to the soaring cost of living crisis. High energy costs and a move to shopping online after the pandemic are also taking a toll, and many high street shops have struggled to keep going. The high street has seen a whole raft of closures over the past year, and more are coming. The number of jobs lost in British retail dropped last year, but 120,000 people still lost their employment, figures have suggested. Figures from the Centre for Retail Research revealed that 10,494 shops closed for the last time during 2023, and 119,405 jobs were lost in the sector. It was fewer shops than had been lost for several years, and a reduction from 151,641 jobs lost in 2022. The centre's director, Professor Joshua Bamfield, said the improvement is "less bad" than good. Although there were some big-name losses from the high street, including Wilko, many large companies had already gone bust before 2022, the centre said, such as Topshop owner Arcadia, Jessops and Debenhams. "The cost-of-living crisis, inflation and increases in interest rates have led many consumers to tighten their belts, reducing retail spend," Prof Bamfield said. "Retailers themselves have suffered increasing energy and occupancy costs, staff shortages and falling demand that have made rebuilding profits after extensive store closures during the pandemic exceptionally difficult." Alongside Wilko, which employed around 12,000 people when it collapsed, 2023's biggest failures included Paperchase, Cath Kidston, Planet Organic, Snug and Tile Giant. The Centre for Retail Research said most stores were closed because companies were trying to reorganise and cut costs rather than the business failing. However, experts have warned there will likely be more failures this year as consumers keep their belts tight and borrowing costs soar for businesses. The Body Shop and Ted Baker are the biggest names to have already collapsed into administration this year.
The Sun
17-07-2025
- Business
- The Sun
Family favourite restaurant chain with 800 sites shuts ‘landmark' branch for good in huge blow to locals
A POPULAR restaurant that's become a local landmark has shut for good, leaving nearby residents gutted. The venue at Emersons Green in Bristol, served its last meal on Thursday July 10. 3 3 It's now listed as 'permanently closed' online, with no official signage or farewell notice on the former Beefeater building. However, the neighbouring Premier Inn will remain open with its own integrated breakfast area for hotel guests. Speculation is already circling online about what's next for the site, with some locals suggesting it may be taken over by the Papas Group – the team behind Papas Fish and Chips and Wendy's. Sudden closure A spokesperson for Whitebread Group, which owns Beefeater and Premier Inn, told BristolLive: 'We'd like to thank our wonderful guests and team for their service and custom over the years. 'The nearest Beefeater is now The Gifford (Fox Den Road, Stoke Gifford) and we do hope to welcome people there.' Whitbread added that the site had been sold to another restaurant business, but stopped short of naming which one. The closure comes as part of the company's 'Accelerating Growth Plan', which aims to replace underperforming restaurants with hotel rooms in high-demand areas. Over the next two years, Whitbread plans to exit 126 branded restaurants across the UK, 21 of which are being sold for £28 million . Britain's retail apocalypse: why your favourite stores KEEP closing down As part of the overhaul, the business will also be converting 112 restaurant spaces into integrated dining areas within its Premier Inn hotels – a format already used at 387 sites across the country. The plan is expected to cut around 1,500 roles out of a workforce of 37,000. However, Whitbread says it will try to offer alternative roles to affected staff through redeployment or its wider recruitment process, which sees around 15,000 hires each year. Dominic Paul, Chief Executive Officer of Whitbread, said: 'When I joined Whitbread as CEO in January 2023, it was clear to me that we had a high performing hotels business, with a strong platform for growth in both the UK and Germany. 'Our strategy of continuing to invest in our brand, teams, and estate for the benefit of our guests and customers has secured a market-leading position for Premier "Inn in the UK and is also delivering strong business performance. 'This plan is a further positive step, delivering a better experience for our hotel guests and helping to extend our market leadership in the UK. 'I recognise that these changes will be unsettling for affected team members and we are committed to working hard to enable as many as possible of those affected to stay with Whitbread... Our teams are at the heart of our guest experience.' This latest shutdown adds to a growing list of closures across the UK food scene. Other recent closures Even Nando's has quietly closed a coup. The Sun has approached Beefeater for further comment. Why are retailers closing stores? RETAILERS have been feeling the squeeze since the pandemic, while shoppers are cutting back on spending due to the soaring cost of living crisis. High energy costs and a move to shopping online after the pandemic are also taking a toll, and many high street shops have struggled to keep going. The high street has seen a whole raft of closures over the past year, and more are coming. The number of jobs lost in British retail dropped last year, but 120,000 people still lost their employment, figures have suggested. Figures from the Centre for Retail Research revealed that 10,494 shops closed for the last time during 2023, and 119,405 jobs were lost in the sector. It was fewer shops than had been lost for several years, and a reduction from 151,641 jobs lost in 2022. The centre's director, Professor Joshua Bamfield, said the improvement is "less bad" than good. Although there were some big-name losses from the high street, including Wilko, many large companies had already gone bust before 2022, the centre said, such as Topshop owner Arcadia, Jessops and Debenhams. "The cost-of-living crisis, inflation and increases in interest rates have led many consumers to tighten their belts, reducing retail spend," Prof Bamfield said. "Retailers themselves have suffered increasing energy and occupancy costs, staff shortages and falling demand that have made rebuilding profits after extensive store closures during the pandemic exceptionally difficult." Alongside Wilko, which employed around 12,000 people when it collapsed, 2023's biggest failures included Paperchase, Cath Kidston, Planet Organic, Snug and Tile Giant. The Centre for Retail Research said most stores were closed because companies were trying to reorganise and cut costs rather than the business failing. However, experts have warned there will likely be more failures this year as consumers keep their belts tight and borrowing costs soar for businesses. The Body Shop and Ted Baker are the biggest names to have already collapsed into administration this year. 3
Scottish Sun
14-07-2025
- Business
- Scottish Sun
Seven biggest employers for jobs without a degree and you could get paid up to £46k
Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) LANDING a job with one of these employers could see you eventually earn nearly £10,000 more than the UK's average salary, and you don't even need a degree. Many job hunters are curious to know what their starting salary could be if they do not hold any qualifications. Sign up for Scottish Sun newsletter Sign up 2 We share what your starting salary could be if you entered a job without a degree A growing number of firms offer apprenticeships, to help young people to earn a wage while they work. But how much can you earn if you choose not to go down the University route? Research by hiring firm Adzuna, shared with The Sun, found Busy Bee Childcare pays its level three apprentices £262 a week. This works out at around £13,649.48 per year. The firm was named as one of the top 10 places to earn an apprenticeship, following research by the Department for Education and RateMyApprenticeship. Meanwhile, if you choose not to go down the apprenticeship route, entry level employees could also secure a role at the firm for £25,083. This includes jobs as a nursery practitioner and an integrations support coordinator, according to the research. And if you choose to progress your career at the childcare group, you could earn nearly £5,000 more than the average UK employee. Figures show a nursery manager at Busy Bee earns a yearly salary of £42,500. This is higher than the £37,430 the average UK employee is said to earn each year. Why are pubs closing? But it is unclear how long staff need to work at the firm before they can progress into a senior role. Meanwhile, Premier Inn owner Whitbread gives those looking for an entry-level job without a degree a chance to earn £11.79 an hour as a kitchen assistant. Grill chefs also have a chance to earn £12.74 per hour. That works out as an annual salary of £24,523 and £26,499 per year, respectively. But if you stay in the firm and work your way up the ladder you could earn up to £46,250 per year as a general manager. The chain was also rated as one of the top places to earn an apprenticeship in the UK, and offers schemes at its support centre and in hospitality. John Lewis, which was also named as a popular place to secure an apprenticeship, also has a range of schemes on offer. That includes a level three apprenticeship as a Vehicle Paint Technician. Staff are paid £12.45 per hour which would work out at £25,896 per year. That is around £2,000 more than what the average minimum wage worker earns a year. John Lewis is currently recruiting for candidates to start this August, so there is still a chance to apply if you or someone you know is interested. WHAT DO OTHER FIRMS OFFER? 2 Mitchells & Butlers runs a chef apprenticeship scheme which can help you earn up between £300 and £366 a week. You can also join with no qualification as a bar staff and earn £11.44 per hour, which works out as £23,000 per year. Logistics provider GXO lets apprentices earn £19,500 per year through its scheme. Meanwhile McDonald's pays its school leaver apprentices between £9.52 and £12.26 per hour through its crew member and manager apprenticeship schemes. Through this scheme, workers receive day-to-day training in a McDonald's restaurant. The above firms were also recognised as great places to secure an apprenticeship following research by the Department for Education.
The Sun
14-07-2025
- Business
- The Sun
Seven biggest employers for jobs without a degree and you could get paid up to £46k
LANDING a job with one of these employers could see you eventually earn nearly £10,000 more than the UK's average salary, and you don't even need a degree. Many job hunters are curious to know what their starting salary could be if they do not hold any qualifications. 2 A growing number of firms offer apprenticeships, to help young people to earn a wage while they work. But how much can you earn if you choose not to go down the University route? Research by hiring firm Adzuna, shared with The Sun, found Busy Bee Childcare pays its level three apprentices £262 a week. This works out at around £13,649.48 per year. The firm was named as one of the top 10 places to earn an apprenticeship, following research by the Department for Education and RateMyApprenticeship. Meanwhile, if you choose not to go down the apprenticeship route, entry level employees could also secure a role at the firm for £25,083. This includes jobs as a nursery practitioner and an integrations support coordinator, according to the research. And if you choose to progress your career at the childcare group, you could earn nearly £5,000 more than the average UK employee. Figures show a nursery manager at Busy Bee earns a yearly salary of £42,500. This is higher than the £37,430 the average UK employee is said to earn each year. Why are pubs closing? But it is unclear how long staff need to work at the firm before they can progress into a senior role. Meanwhile, Premier Inn owner Whitbread gives those looking for an entry-level job without a degree a chance to earn £11.79 an hour as a kitchen assistant. Grill chefs also have a chance to earn £12.74 per hour. That works out as an annual salary of £24,523 and £26,499 per year, respectively. But if you stay in the firm and work your way up the ladder you could earn up to £46,250 per year as a general manager. The chain was also rated as one of the top places to earn an apprenticeship in the UK, and offers schemes at its support centre and in hospitality. John Lewis, which was also named as a popular place to secure an apprenticeship, also has a range of schemes on offer. That includes a level three apprenticeship as a Vehicle Paint Technician. Staff are paid £12.45 per hour which would work out at £25,896 per year. That is around £2,000 more than what the average minimum wage worker earns a year. John Lewis is currently recruiting for candidates to start this August, so there is still a chance to apply if you or someone you know is interested. WHAT DO OTHER FIRMS OFFER? 2 Mitchells & Butlers runs a chef apprenticeship scheme which can help you earn up between £300 and £366 a week. You can also join with no qualification as a bar staff and earn £11.44 per hour, which works out as £23,000 per year. Logistics provider GXO lets apprentices earn £19,500 per year through its scheme. Meanwhile McDonald's pays its school leaver apprentices between £9.52 and £12.26 per hour through its crew member and manager apprenticeship schemes. Through this scheme, workers receive day-to-day training in a McDonald's restaurant. The above firms were also recognised as great places to secure an apprenticeship following research by the Department for Education. What is an apprenticeship? An apprenticeship is a work-based training programme that combines on-the-job experience with classroom learning. Apprentices earn a wage while gaining practical skills and qualifications. Apprenticeships are available to anyone over the age of 16, whether they are school leavers, career changers, or individuals looking to upskill. Applications can be made through the government's apprenticeship website or directly with employers offering apprenticeship programmes. Apprenticeships are funded by the government and employers, meaning there are no tuition fees for the apprentice. Additional support may be available for those with disabilities or learning difficulties. For more details, visit the official UK government apprenticeship website at
