Dunstable based Premier Inn owner to cut 3,800 jobs
Whitbread's company overhaul is set to impact their restaurant and hotel operations across the UK and Ireland
Whitbread, the owner of Premier Inn, is set to cut 3,800 jobs in Dunstable and across the UK and Ireland.
The company announced this reduction as part of a five-year strategy aimed at cost-cutting and operational streamlining through to 2031.
Whitbread plans to remove its remaining branded restaurants and replace them with hotel-integrated dining options.
According to Russ Mould, investment director at AJ Bell, "Pressure from US activist investor Corvex has taken hold at Whitbread as the company announces plans to sell and lease back a big chunk of its hotel estate and make significant changes to its restaurant business."
Headquartered in Dunstable, Bedfordshire, Whitbread PLC operates its main corporate offices at Whitbread Court, Houghton Hall Business Park.
Additionally, Whitbread plans to sell and lease back a significant portion of its hotel estate.
Mould noted, "The market seems unconvinced by the strategy based on the initial investor reaction," and explained that many of Whitbread's competitors operate under an 'asset-light' model, where they don't own the sites they manage.
Premier Inn continues to hold its position as the UK's largest hotel brand.