Premier Inn owner Whitbread enjoyed a summer boost from the Commonwealth Games.
The company yesterday revealed that like-for-like sales at its hotel arm rose 9.2% in the 11 weeks to August 14, a performance boosted by the strong demand for its rooms during the Games in Glasgow in July and August.
Whitbread’s other major brand Costa also reported strong trading figures, with a 7.3% rise in sales on a like-for-like basis.
The group as a whole which also includes the Beefeater and Brewers Fayre family restaurant chains posted an overall 6.8% increase in income in the quarter.
Chief executive Andy Harrison said it had been another strong period for Whitbread, with the business maintaining its “excellent growth record” with a 12.8% increase in total sales.
He said the improving economy and special events like the Commonwealth Games and Farnborough Air Show had all helped to push the business forward, and added that the firm would continue to invest in its offering.
“Whitbread remains on track for another good year,” Mr Harrison said.
“Our strong brands continue to win market share, reinforced by ambitious organic network expansion.
“We plan to open around 4,500 new Premier Inn rooms and five joint site restaurants along with around 300 net new Costa stores this year. Our committed pipeline has grown to around 13,000 UK rooms.”
Numis Securities has increased its forecast for full-year earnings by 3% to £508.6 million.