06 September 2012 10:44
Hotel and restaurant group Whitbread has seen a sales boost after its Premier Inn and Costa brands outperformed the market amidst "ambitious" expansion for both divisions.
Total group sales jumped 14.8% in the second quarter to August 16th, buoyed by a 13% rise in total sales at Premier Inn and a 25.3% rise in total sales at Costa.
Andy Harrison, chief executive of Whitbread commented: "Whitbread has continued to deliver good sales growth with total sales up 14.8% in our second quarter. Our brands have outperformed in a tough economic climate, with like-for-like sales growth of 4.2% and we have continued our network expansion at Costa and Premier Inn."
Commenting on the performance of Premier Inn, Mr Harrison added: "As expected, the Olympics provided a modest benefit, primarily through increased room rate, with occupancy slightly down on last year. The cap on our London prices, to maintain Premier Inn's positioning for great value, constrained revpar growth."
He added: "Restaurants continued to improve, benefiting from a wide range of management actions, driving an increase in like-for-like sales of 4.9%. Costa, the UK's favourite coffee shop, had yet another strong quarter with like for like sales up 5.7% and total sales up 25.3%, as we continue to grow at pace in both the UK and selected overseas markets.
"The economic challenges and variable trading month by month continue. We remain on track to deliver our ambitious growth programme, with our strong brands winning market share."