Year in review - Whitbread PLC
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Statutory Revenue

£ 2922 m

2023/24: £2,960m

Adjusted Profit Before Tax

£ 483 m

2023/24: £561m

Statutory Profit Before Tax

£ 368 m

2023/24: £452m

Adjusted basic earnings per share

194 .6 p

2023/24: 206.9p

Statutory basic earnings per share

141 .5 p

2023/24: 161.0p

Dividend per share

£ 97 .0 p

2023/24: 97.0p

Adjusted operating cash flow

£ 723 m

2023/24: £787m

Lease-adjusted net debt to adjusted EBITDAR

3 .0 x

2023/24: 2.6x

Total shareholder returns

£ 442 m

2023/24: £756m

93 %

UK Brand Awareness

1000 +

UK and Ireland room openings in 2024/25

400 +

rooms opened in Germany in 2024/25

No. 1

YouGov ‘Best Value HotelrnChain’ ranking in the UK

19 %

Germany Brand Awareness

900 +

Hotels on new reservation system

61 .0

YouGov Brand Satisfaction Score in Germany

£ 75 m

Cost efficiencies delivered in 2024/25

1600

Rooms with a view in the UK

Business model

Whitbread Bm Graphic Our Ambitions
Whitbread Bm Graphic Our Enablers
Whitbread Bm Graphic Our Outcomes
Whitbread Bm Graphic Our Capital Allocation

Our strategy is underpinned by our Five-Year Plan that is set to drive us closer towards the achievement of each of the following ambitions:

  • Extending our market-leading position in the UK
  • Becoming No.1 in Germany
  • Enabling long-term growth

Generating benefits for our teams, guests, communities and shareholders:

  • Highly engaged teams
  • Market-leading guest proposition
  • Sustainable profitable growth

Generating benefits for our teams, guests, communities and shareholders:

  • Highly engaged teams
  • Market-leading guest proposition
  • Sustainable profitable growth

Striking the appropriate balance through our strict capital discipline and framework, we are:

  • Investing in long-term value
  • Rewarding key stakeholders
Column

Five Year Plan

Five Year Plan Agp

1/5

UK: Accelerating Growth Plan (AGP)

How we’ll deliver

  • Replacing some of our lower-returning branded restaurants with a more efficient, integrated F&B offer
  • Unlocking the addition of new, high-returning hotel extension rooms
  • Exiting over 100 lower-returning branded restaurants

2029/30 outcomes vs 2024/25

  • Incremental adjusted PBT of £100m
  • 3,500 extension rooms
Five Year Plan Uk Network Expansion

2/5

UK: Network expansion

How we’ll deliver

  • In addition to 3,500 new extension rooms from our AGP, we also expect to open 7,000 new rooms in our committed pipeline as well as 1,500 further new rooms that we will add and open over the next few years

2029/30 outcomes vs 2024/25

  • Incremental adjusted PBT of £120m
  • 98,000 open rooms in the UK and Ireland, including AGP
Five Year Plan Germany Continuing Momentum

3/5

Germany: Continuing momentum

How we’ll deliver

  • We expect to open a further 9,000 new rooms
  • Increase the appeal of our estate through improved distribution and increased brand awareness
  • Improvements to our operating model and additional scale benefits

2029/30 outcomes vs 2024/25

  • Incremental adjusted PBT of £80m
  • 20,000 open rooms
  • Network RevPAR of c.€80
  • Double-digit returns on our current open portfolio
Five Year Plan Efficiencies

4/5

Efficiencies and commercial programme

How we’ll deliver

  • We will at least offset the impact of UK cost inflation through the delivery of cost efficiencies; and
  • Positive UK like-for-like sales growth, supported by our strong commercial programme

2029/30 outcomes vs 2024/25

  • £250m of efficiencies in aggregate
  • While these efficiencies together with like-for-like sales growth are assumed to offset UK cost inflation, we expect that, on average, UK like-for-like sales growth and our cost efficiencies will be in excess of UK cost inflation over the life of the plan
Five Year Plan Capital Allocation

5/5

Capital allocation

How we’ll deliver

  • We will fund the plan as well as our ongoing programme of investment by maintaining net capex after net receipts from property-related transactions, including sale and leasebacks
  • Lease-adjusted leverage will remain below internal threshold of 3.5x

2029/30 outcomes vs 2024/25

  • We expect average net capex will remain at £500m each year between 2025/26 and 2029/30
  • We will recycle at least £1bn of property

Our performance

Our Teams

Force for Good

Opportunity

A team where everyone can reach their potential with no barriers to entry and no limits to ambition

Material topic
Social mobility

Progress during FY24/25

  • 39.8% female representation in our leadership population
  • 9.3% ethnic minority representation in our leadership population
  • More than 750 apprenticeships in learning in Operations and Support Centre
  • 25 supported internships for people with special educational needs
  • 23 care-experienced young people participated in our ten-week pre-employment programme in partnership with Barnardo’s

Community

Making a meaningful contribution to the customers and communities we serve

Material topic
Economic contribution

Progress during FY24/25

  • £2m raised for Great Ormond Street Hospital Children’s Charity
  • 21.2% average salt reduction across our menus from a 2017 baseline
  • 3.1% average calorie reduction across our menus from a 2017 baseline

Responsibility

Always operating in a way that respects people and the planet

Material topics
Decarbonisation
Resource use

Progress during FY24/25

  • 59.7%/m2 emissions intensity reduction in Scope 1 and 2 from a 2016/17 baseline
  • 34.6%/m2 emissions intensity reduction in Scope 3 from a 2018/19 baseline
  • 14.2% reduction in water use per sleeper from a 2019/20 baseline
  • 31.3% reduction in food waste from a 2018/19 baseline

Case studies

Downloads

Annual Report 2025

Complete Annual Report

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