Whitbread, the parent company of Premier Inn, sold 51 restaurants for a total of c. €66.6m. This move is a critical part of Whitbread’s broader cost-cutting and restructuring strategy aimed at streamlining its operations and focusing on more profitable ventures, particularly its Premier Inn hotel brand.
Earlier this year, Whitbread announced plans to divest 126 underperforming Beefeater and Brewers Fayre locations. The company also revealed it would convert 112 of these restaurants into additional hotel rooms to support the growth of Premier Inn. Whitbread's efforts to improve efficiency and profitability involve the sale of these 51 restaurant sites, marking a significant milestone. The hospitality sector, especially food and beverage, has faced declining demand, with Whitbread reporting a slowdown in business and leisure travel compared to the previous year's post-pandemic surge.
Image source - Pexels.
Europe Real Estate — an overview of real estate developments in European countries.
