Earnings release
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1 Q1 FY26 Results 19 June 2025 This document has been labelled as Confidential Internal Continued outperformance in the UK and Germany; Five-Year Plan on track Throughout this release percentage growth comparisons are comparing Q 1 FY26 performance for the 13 weeks to 2 9 May 2025 to the same period in FY25, unless stated otherwise. Overview • We are continuing to make good progress on each of our key strategic priorities including: the delivery of our Accelerating Growth Plan and UK network expansion ; executing our commercial programmes; realising significant cost efficiencies; and reaching profitability in Germany • Premier Inn UK: o Total accommodation sales were down 2% versus last year; total RevPAR was down 2% o As a result of our strong commercial programme, Premier Inn continued to outperform the midscale and economy (‘M&E’) market1 with total accommodation sales 1.7pp ahead and RevPAR growth 1.6pp ahead and an increased RevPAR premium of £5.63 o Strong outperformance in London on both accommodation sales (+ 3.9pp) and RevPAR (+2. 4pp); Regions also ahead by 0.5pp and 0.7pp respectively o Food and beverage (‘F&B’) sales performed in line with our expectations and were down 16% reflecting the impact of our Accelerating Growth Plan to optimise our F&B offer at a number of sites and unlock 3,500 new extension rooms, improving the service to our hotel guests and driv ing higher financial returns for our shareholders • Premier Inn Germany: o Total accommodation sales were up 16% in local currency ( up 15% in GBP) , led by the increasing maturity of our brand and estate, together with the benefit of our commercial initiatives o Total estate RevPAR increased by 12% to €63 and RevPAR of our more established hotels grew by 17% to €72, performing significantly ahead of the wider M&E market2 • £250m share buy-back: on track with 1.2m shares purchased so far for a total consideration of £34m • Outlook: Five-Year Plan on track to deliver incremental profit of at least £300m by FY30, generating more than £2bn for shareholder returns Q1 FY26 Summary Q1 UK Germany3 Total Sales growth: Accommodation (2)% 15% (0)% Food & beverage (16)% 22% (14)% Total (5)% 16% (4)% Like-for-like sales growth: Accommodation (3)% 13% (2)% Food & beverage (2)% 19% (1)% Total (3)% 13% (1)% 1: STR data, standard basis, 28 February 2025 to 29 May 2025, UK M&E market excludes Premier Inn 2: STR data, standard basis, 28 February 2025 to 29 May 2025, Germany M&E market excludes Premier Inn 3: Germany sales growth in GBP Comment from Dominic Paul, Whitbread Chief Executive: “We continue to execute our strategic priorities at pace and are making excellent progress with our Accelerating Growth Plan and network expansion in both the UK and Germany. We also remain on course to deliver £60m of cost efficiencies and meet our target of £250m - £300m of property disposal proceeds this year. Our Five-Year Plan is on track and will deliver a step change in profits, margins and returns over the next few years. “In the UK, we continue to outperform against a challenging market backdrop, with the strength of our brand and commercial programme continuing to drive total accommodation sales and RevPAR growth ahead of the market.
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Q1 FY26 RESULTS | 19 JUNE 2025 2 This document has been labelled as Confidential Internal Whilst the short-lead nature of our business means that our forward visibility remains limited, our forward booked position is ahead of last year and we remain confident that we can continue to outperform the market. “In Germany, we delivered another strong trading performance, led by the increasing maturity of our estate and our commercial initiatives . Our total estate is outperform ing the M&E market and we remain on course to deliver profitability in FY26.” Outlook Our Five-Year Plan is on track to deliver incremental profit of at least £300m by FY30, releasing more than £2bn for shareholders through a combination of share buy-backs and dividends. In the UK, our forward booked position remains ahead of last year and whilst forward visibility remains limited, our commercial initiatives are underpinning our confidence in being able to continue to outperform the market. In Germany, we are trading strongly and remain on course to deliver profitability in FY26 which is a key milestone for us as we progress towards our longer-term target of double-digit returns on capital. Interim results The Group’s interim results will be announced on 16 October 2025. For more information please contact: Investor Relations – Whitbread investorrelations@whitbread.com Peter Reynolds, Director of Investor Relations peter.reynolds@whitbread.com Kirsten O’Reilly, Investor Relations Manager kirsten.oreilly@whitbread.com Kitty Hobhouse, Investor Relations Manager kitty.hobhouse@whitbread.com Media – Brunswick whitbread@brunswickgroup.com Tim Danaher +44 (0) 20 7404 5959 A live Q&A teleconference for investors and analysts will be held at 8:00am GMT on 19 June 2025. Details to join are noted below. An on -demand version of this will be made available on the website (www.whitbread.com/investors/results-reports-and-presentations) shortly after. Q&A teleconference participant dial-in numbers: Start time – 8:00am GMT United Kingdom (Local): 020 3936 2999 Participant Access Code: 144796
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Q1 FY26 RESULTS | 19 JUNE 2025 3 This document has been labelled as Confidential Internal Appendix 1) Premier Inn UK key performance indicators 2) Premier Inn Germany key performance indicators FY25 FY26 Q1 Q2 Q3 Q4 Full Year Q1 Q12 % London Occupancy (full inventory) 78.6% 84.3% 83.1% 76.2% 80.5% 76.6% (2.0)pp Average room rate (£) 109.12 116.65 112.47 93.65 108.24 105.88 (3.0)% Revenue per available room (£) 85.77 98.32 93.49 71.34 87.17 81.07 (5.5)% Total accommodation sales (£m) 120.0 138.5 133.9 102.7 495.2 117.2 (2.4)% Regions Occupancy (full inventory) 82.6% 84.3% 83.9% 73.6% 81.1% 79.1% (3.5)pp Average room rate (£) 71.00 84.77 74.43 60.89 73.17 72.92 2.7% Revenue per available room (£) 58.67 71.45 62.43 44.84 59.35 57.68 (1.7)% Total accommodation sales (£m) 374.1 456.2 398.7 286.0 1,515.0 367.8 (1.7)% Total Occupancy (full inventory) 81.9% 84.3% 83.7% 74.1% 81.0% 78.6% (3.3)pp Average room rate (£) 77.59 90.53 81.35 67.09 79.52 78.85 1.6% Revenue per available room (£) 63.54 76.31 68.12 49.72 64.42 62.00 (2.4)% Total accommodation sales (£m) 494.1 594.7 532.7 388.7 2,010.2 485.0 (1.8)% Total accommodation sales growth vs M&E market1 +0.5pp +0.5pp +1.1pp +0.5pp +0.7pp +1.7pp RevPAR premium vs M&E market1 £4.84 £5.74 £5.50 £3.33 £4.83 £5.63 £0.79 F&B and other Premier Inn UK sales Food and beverage sales (£m) 184.7 168.2 154.6 145.5 653.0 155.2 (16.0)% Other Premier Inn UK sales (£m) 6.4 6.9 7.8 7.2 28.3 8.1 26.2% Total F&B and other UK sales (£m) 191.0 175.1 162.4 152.7 681.2 163.2 (14.6)% Total UK sales (£m) 685.2 769.8 695.1 541.4 2,691.4 648.2 (5.4)% FY25 FY26 Q1 Q2 Q3 Q4 Full Year Q1 Q12 % Occupancy (full inventory) 64.6% 72.0% 73.5% 61.1% 67.8% 67.4% 2.8pp Average room rate (£) 75.22 76.28 81.07 66.56 75.08 79.49 5.7% Revenue per available room (£) 48.61 54.95 59.61 40.70 50.90 53.58 10.2% Total accommodation sales (£m) 46.5 52.6 58.0 40.5 197.6 53.4 14.9% Total food and beverage sales (£m) 7.6 8.3 9.5 7.7 33.0 9.2 22.1% Total sales (£m) 54.0 60.8 67.5 48.2 230.6 62.7 15.9%
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Q1 FY26 RESULTS | 19 JUNE 2025 4 This document has been labelled as Confidential Internal Notes: 1: STR data, standard basis, 28 February 2025 to 29 May 2025, M&E market excludes Premier Inn 2: Sales growth versus Q1 FY25 FY25 FY26 Q1 Q2 Q3 Q4 Full Year Q1 Q12 % Occupancy (full inventory) 64.6% 72.0% 73.5% 61.1% 67.8% 67.4% 2.8pp Average room rate (€) 87.88 90.05 96.89 80.02 89.08 94.11 7.1% Revenue per available room (€) 56.79 64.87 71.25 48.93 60.39 63.43 11.7% Total accommodation sales (€m) 54.3 62.0 69.3 48.7 234.4 63.3 16.5% Total food and beverage sales (€m) 8.8 9.8 11.3 9.2 39.2 10.9 23.7% Total sales (€m) 63.1 71.8 80.7 57.9 273.6 74.2 17.5%