Whitbread Q3 Earnings Call Highlights

Whitbread (LON:WTB) absorption struck an upbeat code connected its FY26 third-quarter trading update call, citing strengthening request trends successful some the UK and Germany and a larger-than-expected publication from its ongoing ratio program. CEO Dominic Paul, joined by CFO Hemant Patel, said trading momentum seen earlier successful the twelvemonth continued done the 4th and has improved further into the existent period.

In the UK, Whitbread reported continued marketplace improvement, with occupancy remaining precocious astatine 83% and RevPAR up 3% successful the 3rd quarter. Paul said the institution maintained a “healthy premium” versus the remainder of the mid-scale and system market.

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London was highlighted arsenic a cardinal driver, wherever Whitbread accrued some occupancy and rates, producing RevPAR maturation of 7% twelvemonth implicit year. Responding to a question connected whether London’s show was “lumpy,” Paul said it was “consistently strong” done the 4th and reiterated assurance successful London arsenic a marketplace wherever the radical is expanding capacity.

Paul besides addressed questions astir occupancy being somewhat down twelvemonth implicit twelvemonth contempt RevPAR growth. He said occupancy successful the existent trading play was “very, precise close” to the anterior year, emphasizing Whitbread’s absorption connected optimizing “every azygous room, each azygous night,” with immoderate hotels outperforming past twelvemonth connected occupancy portion others were somewhat lower.

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Looking astatine the aboriginal portion of the 4th quarter, Whitbread said UK show strengthened versus Q3. In the six weeks to 8 January 2026, total accommodation income and RevPAR were some up 4%, and the institution said it outperformed the wider market. Paul attributed the outperformance to a operation of merchandise consistency, marque strength, determination quality, and progressive gross management. He besides pointed to advancement successful CRM and information usage, noting that the bulk of customers publication directly.

Management said UK nutrient and beverage income were successful enactment with expectations arsenic Whitbread continues to execute its accelerating maturation plan. Paul framed the effort arsenic some a impermanent acquisition inaugural and a returns betterment program, focused connected transforming immoderate lower-returning branded restaurants into higher-returning edifice extensions.

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Whitbread said its German concern delivered a beardown 4th and remains connected way to scope profitability this year. In Q3, total accommodation income roseate 12% and RevPAR accrued 7% successful section currency, which absorption attributed to the expanding maturity of the property and marque alongside commercialized initiatives.