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Strong accommodation sales growth and market outperformance in both the UK & I and Germany Confident in full year outlook and increasing strategic momentum as we execute our Five - Year Plan Throughout this release , all percentage growth comparisons are made by comparing the current period performance ( H1 FY27 ) for the 26 weeks to 27 August 2026 with H1 FY26 ( 26 weeks to 28 August 2025 ) . Commenting on today's results , Dominic Paul , Whitbread Chief Executive , said : " Whitbread is a business with increasing strategic momentum and , having announced the outcome of our comprehensive business and strategic review in April , we are executing our Five - Year Plan at pace , building on the unrivalled strength of the Premier Inn brand to deliver increased returns for shareholders . " In the UK and Ireland , we are extending our market outperformance with accommodation sales up 3 % versus last year and positive RevPAR growth for the fifth consecutive quarter . Our commercial programme and technology - led enhancements are contributing to positive like - for - like sales momentum that , together with the delivery of material cost efficiencies , is helping to mitigate the impact of cost inflation . Whilst our plan assumes no change in future years , we are continuing to press the UK Government to protect jobs and investment by reducing the previously announced increases in business rates in its forthcoming Budget . " As part of our business and strategic review , our dynamic approach to capital allocation has reduced growth capex by £ 1bn and reprioritised our highest returning opportunities . This included the extension of our Accelerating Growth Plan , that will deliver a great experience for guests and double - digit returns for shareholders . This is a critical year for the delivery of the plan , and we are progressing rapidly , with all branded restaurants now replaced by a more tailored F & B offering for hotel guests and planning applications already underway . Having agreed the sale of 173 sites and with offers already received for the majority of remaining sites , we are on track to deliver as planned . " In Germany , we delivered double - digit accommodation sales growth supported by the opening of nearly 1,800 new rooms and have continued to outperform the wider market . We remain on course to deliver a second year of profitability in FY27 and thereafter accelerate our financial performance . " With excellent strategic progress and strong current trading momentum , our plan is working . Against this positive backdrop , the Board strongly recommends that all shareholders vote against the resolution proposed by Corvex at the forthcoming shareholder meeting . " We are executing well and remain confident in both the full year outlook and the delivery of our Five - Year Plan that will generate £ 2bn available for shareholder returns by FY31 . " H1 FY27 Group Financial Summary £ m Statutory revenue H1 FY27 1,572 H1 FY26 1,541 vs H1 FY26 2 % Adjusted EBITDAR + 608 601 1 % Adjusted profit before tax * 287 316 ( 9 ) % Adjusting items before tax ( 178 ) ( 28 ) > ( 100 ) % Statutory profit before tax 109 287 ( 62 ) % Statutory profit after tax 62 217 ( 72 ) % Adjusted basic EPS + 125.1p 133.7p ( 6 ) % Statutory basic EPS 36.8p 123.7p ( 70 ) % Dividend per share 36.4p 36.4p Group ROCE 10.9 % 10.3 % 60bps Net debt ( 663 ) ( 563 ) ( 100 ) Lease - adjusted leverage * 3.4x 3.2x n / a Overview : • • H1 FY27 results : adjusted profit before tax ( ' PBT ' ) of £ 287m reflects a strong trading performance in the UK and Ireland ( ' UK & I ' ) and Germany , offset by temporary transition costs associated with our extended Accelerating Growth Plan ( ' AGP ' ) , high cost inflation ( including business rates ) and in - year impacts in Germany , predominantly associated with new room openings , all of which were in line with our previous guidance ; statutory profit before tax was £ 109m , after £ 178m of adjusting items driven primarily by non - cash impairment charges associated with the Group's strategic review and the AGP FY27 current trading¹ and outlook : strong trading momentum has continued with total UK & I accommodation sales up 4.5 % and total Germany accommodation sales up 31.2 % ; whilst visibility remains limited , our positive