Not long ago, hotels were the main driver of Whitbread's growth. But tough economic conditions have changed that. The Premier Inn hotels business hampered the leisure group's latest quarter performance, with like-for-like sales at Premier Inn falling by almost 8 per cent and revenue per available room - a key metric for hotel operators - dropping by nearly 10 per cent. Total sales at Premier Inn were flat, as revenues from its expansion programme, which added 838 rooms in the quarter, came into the equation.
Elsewhere, pub restaurants outperformed the sector with a 2 per cent rise in like-for-like sales and the Costa coffee shops chain also performed well, with like-for-like sales up approaching 3 per cent. New openings boosted the number of Costa outlets in the UK to 930.
When: 6 March 2009
Price: 742p
