Chairman’s statement
Read moreThe past year has seen us deliver another outstanding financial performance. The execution of our business strategy, supported by our strong market position and differentiated business model, is extending our leadership position in the UK and we are making encouraging progress towards replicating that success in Germany.
Statutory Revenue
£ 2960 m
2022/23 £2,625M
Adjusted Profit Before Tax
£ 561 m
2022/23 £413M
Statutory Profit Before Tax
£ 452 m
2022/23 £375M
Adjusted basic earnings per share
206 .9 p
2022/23 162.9p
Statutory basic earnings per share
161 .0 p
2022/23 138.4p
Dividend per share
£ 97 .0 p
2022/23 74.2p
Adjusted operating cash flow
£ 787 m
2022/23 £719m
Lease-adjusted net debt to adjusted EBITDAR
2 .9 x
2022/23 2.6x
Total shareholder returns
£ 756 m
2021/22 £119m
95 %
UK Brand Awareness
2200 +
UK and Ireland room openings in 2023/24
1400 +
rooms opened in Germany in 2023/24
No. 1
YouGov ‘Best Value Hotel
Chain’ ranking in the UK
14 %
Germany Brand Awareness
900 +
Hotels on new reservation system
5000 +
Premier Plus rooms in UK and Germany
£ 50 m
cost efficiencies delivered in 2023/24
£ 3 m
Funds raised for our charity partners
Chief Executive’s Review
Delivering a step-change in performance
We are the clear market leader in the UK and have a number of strategic and commercial initiatives, that will strengthen our position further. In Germany, we are building a business of real scale and remain on course to become the number one hotel brand achieving our long-term target of 10%–14% return on capital.
Read moreChief Financial Officer’s Review
Delivering long-term sustainable returns
Our strong revenue and profit performance meant that Group ROCE increased to 13.1% and UK ROCE increased to 15.5%. We believe that our vertically integrated business model means we are particularly well-placed to capitalise on the significant structural opportunities in both the UK and Germany.
Read moreCase studies
Our performance
UK
Our largest and most profitable market is driven by high volumes of domestic travel with additional inbound travel from international markets. With a significant decline in the independent sector and limited new room growth from other branded operators, a favourable supply backdrop is expected to continue for a number of years.
Germany
The German hotel market is 40% larger than the UK and shares a number of attractive structural characteristics that helped drive Premier Inn’s success in the UK. Having grown rapidly in recent years, we are on course to become Germany’s number one hotel brand, delivering profitable growth and attractive long‑term returns on capital.
Our Teams
Force for Good
79 %
of our team members say they are
proud to work at Whitbread
60 %
of salaried operations management promoted into role this year in the UK
340
Apprenticeships completed this year
Opportunity
A team where everyone can reach their potential with no barriers to entry and no limits to ambition.
£ 2 .4 m
Raised for Great Ormond Street Hospital Children’s Charity
€ 907 k
Raised for Children for a Better World e.V (CHILDREN)
1384
Hours donated to local community charities
Community
The community pillar is all about making a meaningful contribution to the customers and communities we serve.
54 .9 %
Scope 1 and 2 intensity reduction from base year
10 .1 %
Reduction in water use per sleeper from base year
100 %
Whole fish is MSC or equivalent certified
Responsibility
Always operating in a way that respects people and the planet.
Governance
During the year, we were fully compliant with the provisions of the 2018 UK Corporate Governance Code.
Read more