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Premier Inn, Beefeater and Brewers Fayre owner asks for rent reduction for December quarter Subsequent lockdowns and restrictions saw further closures and a collapse in demand as tourism dried up. Premier Inn closed the vast majority of its 800 hotels during the first national lockdown in March (Image: PA) Never miss a thing from Belfast and beyond - sign up for FREE newsletter direct to your inboxInvalid EmailSomething went wrong, please try again later. Subscribe When you subscribe we will use the information you provide to send you these newsletters. Your information will be used in accordance with ourPrivacy Notice. Thank you for subscribingWe have more newslettersShow meSee ourprivacy notice ....
Premier Inn owner Whitbread asks landlords for 50% rent cut PA 23 December 2020, 12:24 pm Premier Inn, Beefeater and Brewers Fayre owner Whitbread has written to landlords saying it intends to only pay 50% of rent for the final three months of the year. The letter, sent before the new Tier 4 regulations and seen by property news publication Costar, said the company had suffered “significant” net cash outflows in the first half of the year. Whitbread told landlords it intended to deduct the payment from its quarterly rent due on Christmas Day, the letter added. A spokesperson for the business said: “Throughout the pandemic to date, we have paid our rent commitments in full, even when our hotels and restaurants were forced to close. ....
A spokesperson for the business said: “Throughout the pandemic to date, we have paid our rent commitments in full, even when our hotels and restaurants were forced to close. “With ongoing Government restrictions expected to result in subdued market demand into the first half of 2021, we are now asking our landlords to support us, as other stakeholders have during the pandemic, through a reduction in rent for the December quarter in recognition of the current environment.” Premier Inn closed the vast majority of its 800 hotels during the first national lockdown in March – keeping 40 open for essential workers – and reopened during the summer. ....