Whitbread PLC Whitbread International Growth Strategy (1018E)
13 July 2016 - 11:02PM
UK Regulatory
TIDMWTB
RNS Number : 1018E
Whitbread PLC
13 July 2016
13(th) July 2016
WHITBREAD TO FOCUS
ON ITS STRENGTHS WITH PREMIER INN INTERNATIONAL GROWTH
STRATEGY
In line with the Group strategy set out in April, Whitbread has
today announced plans to focus on its strengths, concentrating the
Premier Inn international growth strategy on a smaller number of
specific markets where it can generate good long term sustainable
returns and where there is the greatest long term opportunity to
build scale.
Therefore Premier Inn will focus its international strategy on
continuing to grow its businesses in Germany, a structurally
attractive hotel market and in the Middle East where we operate a
profitable and growing joint venture and will commence a phased
withdrawal from its operations in India and South East Asia.
Expansion plans for Premier Inn in the UK remain unaltered, and
Costa's UK and International growth plans are not affected by
today's announcement. The impact of the cost associated with the
withdrawal from South East Asia is not considered material.
Alison Brittain, CEO, Whitbread comments:
"In April I laid out a three-point plan to build a bigger and
better Whitbread. I reiterated the strong growth prospects for
Whitbread in the UK, where we have laid out bold milestones for
Premier Inn and Costa and confirmed that Whitbread also has an
exciting future beyond the UK. A key strategic theme is to focus on
our strengths internationally and that means identifying those
opportunities to invest our capital and management time wisely to
generate the best and most sustainable returns. To build a
successful future for Premier Inn overseas, we must focus on those
markets where we can grow scale and where our brand proposition is
most compelling for our customers."
For more information please contact:
Investor Relations
Nicholas Cadbury, Whitbread PLC +44 (0) 20 7806 5491
Joanne Russell, Whitbread PLC +44 (0) 1582 888633
Press Contacts
Anna Glover, Whitbread PLC +44 (0) 7768 917 651
David Allchurch, Tulchan +44 (0) 20 7353 4200
This information is provided by RNS
The company news service from the London Stock Exchange
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