Whitbread returns more capital as profits surge

Whitbread's (WTB) shares have climbed by a third over the last year, helped by a resilient UK leisure market. Hotel demand is holding up in the face of cost of living pressures – according to software platform Siteminder, UK forward hotel bookings currently sit at 102 per cent of 2019 levels. The Premier Inn owner’s relatively cheap rooms are pulling in customers in a time of tightened budgets, with an average room rate (ARR) of £84 in the UK in the first half attracting strong leisure and business demand.