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Whitbread's Premier Inn Recovery Tracks Ahead of Expectations But Concerns Remain -- Market Talk

Dow Jones Newswires ·  Oct 27, 2021 06:12

1004 GMT - The recovery of Whitbread's Premier Inn UK business is ahead of expectations as leisure-driven demand pushed August and September's total accommodation sales around 10% ahead of fiscal 2020, Liberum says. Although management now sees a potential for U.K. like-for-like revenue-per-available-room recovery in 2022, as opposed to its previous 2023 view, analysts at Liberum say they remain wary given subdued business demand and growing cost pressures. "Recovery is progressing well; however, we retain some concern about permanent changes towards business travel and uncertain recovery of inbound international travel, which will continue to hinder the recovery ahead," the U.K. brokerage says. Liberum rates the stock hold, and has a 3,400 pence target price. Shares are up 0.1% at 3,297 pence. (anthony.orunagoriainoff@dowjones.com)

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