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WHITBREAD FY21 Results 27 April 2021 Premier Inn market share gains in the UK and building a national network in Germany FY21 operational highlights . • • Whitbread's FY21 performance reflected the significant COVID - 19 restrictions that were in place for the majority of the year in both the UK and Germany As a result , total sales were down 71.4 % year - on - year reflecting the impact of these restrictions and the closure of our hotels and restaurants for substantial periods of the year In the UK , we have significantly outperformed the midscale and economy hotel market since reopening in August , with customer scores also remaining very strong throughout this period , despite the significant disruption In Germany , the market and our hotels operated at low levels of occupancy due to the pandemic . Despite this , we were able to materially accelerate the growth of our hotel network during the year , with a total open and committed pipeline now standing at 72 hotels , providing a very strong platform from which to increase our brand presence React , Protect and Restore • • • Our response to the COVID - 19 crisis was rapid and robust , ensuring the safety of our guests and our staff , and protecting our balance sheet At the outset of the crisis , protective actions included pausing discretionary P & L spend , stopping non- essential capex and suspension of the dividend , and utilising UK and German Government support schemes Subsequently , both central office and hotel and restaurant headcounts were reduced , ensuring our labour model can respond more effectively to changes in demand The successful completion of a £ 1bn Rights Issue in June 2020 , strengthened the balance sheet and enhanced our financial flexibility • £ 550m Green Bonds issued in February 2021 provided further financial flexibility , while also underlining the Group's sustainability credentials and long - established Force for Good programme Investing to win in FY22 • • Expecting to invest over £ 350m of capital in this financial year Commercial initiatives , including the first major above - the - line Premier Inn marketing campaign for three years , are set to help both leisure and business demand recovery Continued disciplined investment in room refurbishments will ensure our hotels remain well - invested Opening 2-3,000 of our pipeline rooms in the UK and c.2,000 rooms in Germany • . Roll - out of ‘ Premier Plus ' rooms recommenced , delivering superior returns • • Continued expansion of our pipeline in Germany ; two organic hotels already added to our pipeline in FY22 Next phase of efficiency programme launched , targeting an additional £ 100m of cost savings by FY24 Operational update In the UK , currently over 92 % of our hotels are open , and we are ready to welcome leisure guests back to our hotels from 17 May , alongside the full reopening of all of our restaurants • Strong demand is expected for ' staycations ' in UK tourist destinations throughout the summer , with business and event - led leisure demand starting to gradually recover thereafter • Currently 18 of our 30 operational hotels are open in Germany , with six of the temporarily closed hotels being refurbished and rebranded to Premier Inn . Despite the very recent tightening of Government restrictions , our significantly enlarged estate puts us in a strong position to win market share when demand returns Now targeting net - zero carbon emissions by 2040 , a decade faster than originally targeted Driving long - term value • • • In the UK , we will continue to grow and innovate , by leveraging the powerful competitive advantages of our brand , market - leading direct distribution , our best - in - class operating model and our broad customer reach , while capitalising on the enhanced structural opportunities that will exist post COVID - 19 In Germany , we have a compelling opportunity to replicate our UK success story , and our aim is for Premier Inn to be the number one budget hotel operator . We will continue to invest in growing our pipeline and believe we have a long - term line - of - sight to over 60,000 rooms through both organic and inorganic investment Whitbread is well - placed to take advantage of the likely market structural changes , with supply contraction and constrained investment amongst independent and budget - branded operators in the UK and Germany Our strategy is underpinned by our well - established Force for Good programme , reflecting our ambitious commitments to operate responsibly and sustainably , reflecting the positive impact we can make for our employees , customers , suppliers , investors , communities and the environment