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Whitbread
Whitbread (WTB) investor relations material
Whitbread Q3 2026 TU earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 TU earnings summary13 Jan, 2026
Executive summary
Strong trading momentum in both UK and Germany, with UK occupancy at 83% and RevPAR up 3% year-over-year; London outperformed with RevPAR up 7%.
Q3 group sales up 2% to £781m, driven by accommodation sales growth in both UK and Germany.
German business delivered robust results, with total accommodation sales up 12% in local currency and RevPAR up 7%; established hotels saw RevPAR up 9% to €86.
Accelerating growth plan and strategic initiatives progressing, focusing on converting lower-returning restaurants and disciplined capital allocation.
Current trading remains strong: UK accommodation sales and RevPAR up 4% in early Q4; Germany sales up 11% and RevPAR up 5%.
Financial highlights
FY26 efficiency savings target increased to GBP 75–80 million.
FY27 business rates cost impact revised down to GBP 35 million from earlier GBP 40–50 million estimate.
Net UK cost inflation in FY27 expected at 3–4%, factoring in GBP 60 million of efficiency savings.
Sale and leaseback transaction with LondonMetric for GBP 89 million across nine sites at a 5.3% yield, supporting capital recycling.
Group total sales for Q3 at £781m.
Outlook and guidance
Booked position for FY27 ahead of last year, with strong long-lead leisure bookings.
German business on track to reach profitability and become the country's top hotel brand.
FY26 guidance unchanged except for increased cost efficiencies.
Update on five-year plan, including business rates mitigation, expected at full-year results in April.
Confident in maintaining RevPAR premium in UK and outperforming the market in Germany.
How will Germany achieve profitability this year?
Accelerating Growth Plan progress update
UK Budget impact on Five-Year Plan strategy
What structural changes are considered for the 5-year plan?
How will business rates impact competitive position?
How will AI drive future efficiency savings?
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Next Whitbread earnings date
H2 202630 Apr, 2026
Whitbread
Next Whitbread earnings date
H2 202630 Apr, 2026
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Frequently asked questions
Whitbread PLC is a hospitality company operating in the hotel and restaurant sectors. The company is best known for its Premier Inn brand, which provides budget-friendly accommodations across the United Kingdom and in selected international markets. In addition to its hotel business, Whitbread operates restaurants under brands such as Beefeater and Bar + Block, often co-located with its hotels to offer convenient dining options for guests. The company is headquartered in Dunstable, United Kingdom, and its shares are listed on the LSE (London Stock Exchange).
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