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Business Anything with a view : Whitbread eyes staycation bump after $1.4 bln loss
ReutersPushkala Aripaka
3 minutes read
A signage of the Premier Inn Hotel is seen outside the Durham North branch in County Durham, Britain September 22, 2020. REUTERS/Lee Smith
Premier Inn-owner Whitbread (WTB.L) reported a 1 billion pound ($1.39 billion) annual loss on Tuesday but said it expects a significant bounce in staycation demand this summer as COVID-19 curbs in Britain are relaxed.
Whitbread, which also owns the Beefeater and Bar + Block chains, said revenue for the year to March slumped by nearly three quarters, sending its shares down as much as 3.4% to 3,294 pence.