Profits soar as Premier Inn thrives

Premier Inn

Premier Inn

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Premier Inn’s rapid growth story is set to continue after its owner, Whitbread, mapped out plans for as many as 900 hotels by the end of 2020.

The budget brand, which currently has 697 hotels providing almost 60,000 rooms in the UK, helped Whitbread to grow underlying profits by 18 per cent to £488.1 million in the financial year to February 26.

Whitbread’s expansion plans also include a pledge to increase sales at its Costa coffee business from this year’s £1.4 billion to £2.5 billion in 2020. The group said it could create 15,000 jobs in the UK over the next five years.