UK budget hotel outperforming the market

With every business trying to help out there bottom line, budget hotels are managing to out perform the hotel industry by offering quality stays for cheaper prices. One hotel chain that is receiving the benefit of the economic slow down is Whitbread’s Premier Inn. Alan Parker who is the Chief Executive of the hotel chain pointed out that their company has sales growth that has reached almost eleven percent over the last few months. The bulk of the growth has been tied to the increase in spending via business accounts. Parker commented on the growth, “There are clear signs that the corporate traveler is getting more savvy and recognizing value for money.”

The company has reported very strong future outlook with bookings filling up for the near future. In addition to the economy assisting the growth, the increase has also been assisted by a rebranding as well as a new marketing approach. While the future looks bright, Parker remained humble regarding its out look. “Overall these are challenging times. I don’t want to appear in anyway complacent,” commented Parker. The hotel chain has been feeling the increase in cost especially in energy but also the increased food costs.

The budget chains success has not gone unnoticed in the stock market where it has been slowly rising over the last few days. “Whitbread continues to prove that there is still life in the consumer sector. Cost awareness on behalf of both consumers and corporate travels is underwriting impressive progress, commented Keith Bowman who works for Hargreaves Lansdown Stockbrokers.