8th Sep 10
Premier Inn enjoys profit growth
by Katie Naylor
The Whitbread company has revealed a growth in profits thanks to increased uptake by government employees and business travellers of their Premier Inn rooms. The budget hotel brand says it has made £7 million from civil servants so far this year, who have paid an average of £54 for every night’s stay.
The company’s chief executive Alan Parker said he was very happy with the figures, especially as the government strives to cut costs. He also said that business travel had increased at the hotels by 20 percent so far this year.
Premier Inns, which have advertised a rate of £29-a-night during quieter times, says holidaymakers and weekend travellers have also been snapping up deals. The hotel chain was 95 percent full during the most recent August bank holiday, which is typically a very quiet time for hotels.
Total sales are now at 14 percent, up by almost eight percent on a like-for-like basis. Sales for the first quarter of 2009 are also up by 7.6 percent for the same period this year, although may come down slightly in the second half as the firm did better at the end of 2009.
For the remainder of the year, Whitbread plans to open another 2,800 rooms to add to the 1,800 added last year. Similar increases are also expected to stretch into 2011 along with the 98 Costa Coffee shops that have opened in the UK and overseas.
Former Easyjet boss Andy Harrison will replace Mr Parker in November when he retires.
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