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WHITBREAD Q1 FY22 Trading Update 17 June 2021 Summary Continued market outperformance in the UK , strong leisure demand post 17 May Throughout this release all percentage growth comparisons are made on a two - year basis , comparing the current year ( FY22 ) performance for the 13 weeks to 27 May 2021 to the same period in FY20 ( 13 weeks to 30 May 2019 ) , with FY20 being the last financial period before the onset of the COVID - 19 crisis . • • • 98 % of UK hotels and restaurants now open , with Premier Inn UK's total accommodation sales performance 11.0 pp ahead of the M & E market¹ in the quarter Total UK accommodation sales were down 60.9 % in the quarter , with Food and Beverage total sales down 86.0 % , reflecting the Government's lockdown restrictions that were in place for most of the quarter Encouraging trends post 17 May , when overnight leisure stays were permitted Very strong forward booking trends in tourist locations throughout the summer , and improved forward bookings across the majority of the rest of the estate , with the exception of airport locations and central London Continued gradual increase in business demand 19 of 30 operational hotels open in Germany , occupancy levels improving in a challenging but recovering market • " Investing to win in FY22 " and driving outperformance : о " Rest Easy " above the line marketing campaign , launched in April , is driving strong website volumes ○ New business booker tools and enhanced Travel Management Company distribution will help continued recovery in business demand • • • ○ O О Planned return to pre - COVID - 19 levels of hotel refurbishment capex for FY22 ; commenced rollout programme for 1,500 additional Premier Plus rooms 3 new organic hotels added to the pipeline in Germany , taking the open and committed pipeline to 73 hotels and over 13,500 rooms £ 100m three - year cost efficiency programme well underway Cash outflow for the quarter was in - line with previous sensitivity guidance . At the end of the quarter , net debt was £ 70.6m , benefitting from the build up of customer deposits for the summer Now targeting net - zero carbon emissions by 2040 , bringing forward the original target by 10 years Outlook and guidance remain unchanged from 27 April 2021 Comment from Alison Brittain , CEO : " The Group traded significantly ahead of the market during the quarter , despite the impact of the UK Government restrictions that were in place for the majority of the first quarter . Trading in the UK since May 17 , when overnight leisure stays were permitted , and when our restaurants fully reopened for indoor service , has been encouraging . Additionally , our forward bookings continue to improve , benefiting from the anticipated post- lockdown bounce in leisure demand , and a continued gradual improvement in business bookings . During the first quarter we opened 10 new hotels in the UK . We hold a uniquely advantaged position in the UK , built on our scale , market - leading direct distribution , and strength of the Premier Inn brand . Our position as the market leader in the fast - recovering budget sector is combined with a broad , domestic focussed customer mix . This , alongside our financial flexibility and ability to invest in our customer proposition when others are constrained , means we are well - positioned to continue our strong performance . In Germany , we now have a business of scale with a national footprint . Our accelerated pipeline growth saw 3 new hotels added , taking our open and committed pipeline to 73 hotels , and we continue to assess opportunities to grow the pipeline through both organic and non - organic routes . As in the UK , the German hotel market is recovering , and we anticipate a steady improvement in occupancy rates in our 30 operational hotels as we move through the summer . In both markets , our financial strength will enable us to capitalise on the enhanced structural opportunities that will exist , and drive long - term value for all stakeholders . "