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Investoren waren enttäuscht von den schwachen Gewinnen, die Whitbread plc (LON:WTB ) veröffentlichte. Unsere Analyse zeigt jedoch, dass die schlechten Zahlen durch positive Unternehmensfaktoren ausgeglichen werden können. Trump hat angekündigt, "amerikanische Öl und Gas zu entfesseln" und 15 US-Unternehmen haben Entwicklungen, die sich positiv auf sie auswirken könnten. LSE:WTB Earnings and Revenue History May 7th 2026 Wie beeinflussen ungewöhnliche Posten den Gewinn? Um Whitbread's Gewinnresultaten richtig zu verstehen, müssen wir die UK£160m-Kosten berücksichtigen, die auf ungewöhnlichen Posten zurückzuführen sind. Während Abzüge aufgrund von ungewöhnlichen Posten im ersten Moment enttäuschend sind, gibt es eine positive Seite. Wir haben tausende an der Börse notierter Unternehmen analysiert und gefunden, dass ungewöhnliche Posten sehr oft nur einmalig auftreten. Und genau das impliziert die Rechnungslegungsterminologie auch. Wenn Whitbread diese ungewöhnlichen Ausgaben nicht wiederholt, dann würden wir erwarten, dass sein Gewinn im Laufe des nächsten Jahres steigt.

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UK-based hotel owner Whitbread has announced plans to close its remaining 197 branded restaurants and expand food and beverage options within its Premier Inn hotels, a move that could see a loss of up to 3,800 jobs, reported Reuters.

The company outlined the shift as part of a broader review prompted by increased property costs, economic pressures, and calls from activist investor Corvex to enhance shareholder value.

This transition is expected to affect Whitbread’s adjusted pre-tax profit, projecting a reduction of £10m ($13.5m) in the financial year ending February 2027.

In this period, the company plans to convert underperforming restaurants into hotel rooms and adopt a fully integrated restaurant model in its hotels.

It is reallocating capital to achieve higher financial returns, with a forecast of £2bn in free cash flow available for shareholder returns by the 2031 financial year.

However, Whitbread stated it will pause share buybacks this year as it invests in changes to operations.

As part of the new strategy, the company intends to sell £1.5bn in freehold property, reducing its proportion of owned hotels to between 30% and 40%.

This will mark the first time since Premier Inn’s founding in 1987 that Whitbread will operate as a majority leaseholder.

The proceeds are expected to fund growth and minimise net capital expenditure.

Whitbread also reported that forward bookings for its hotels have exceeded last year’s levels, supported by seasonal travel demand and events.

It signalled continued growth ambitions in the UK and Germany, aiming to extend its Accelerating Growth Plan to replace the remaining branded restaurants and increase the number of hotel rooms to 96,000 in the UK and Ireland by 2031.

In Germany, the company targets an expansion to 18,000 rooms over the same period, with an emphasis on driving cash flow and capital returns following recent profitability.

Whitbread CEO Dominic Paul said: “Our New Five-Year Plan builds on our strengths and drives a significant acceleration of our strategy.

“In the UK, by reallocating some of our capital spend and building on the success of our Accelerating Growth Plan, we plan to convert all our remaining branded restaurants to an integrated food and beverage offer that is preferred by our hotel guests and will unlock the addition of more highly profitable extension rooms.

“Our continued efforts to drive our commercial plan and efficiencies will extend our market-leading position and allow us to take share from our competitors, many of which are struggling to grow.”

Whitbread cited an additional £5m impact from the ongoing conflict in the Middle East affecting its hotels in the region.

Story Continues

The company said its five-year plan aims to increase group return on capital employed by 500 basis points and deliver £275m in additional adjusted profit by 2031 compared to 2026 while targeting £250m in cost efficiencies.

"Whitbread outlines new strategy with job losses and property sales" was originally created and published by Hotel Management Network, a GlobalData owned brand.

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Whitbread logo

Whitbread (LON:WTB) management used its full-year FY2026 results presentation to outline a new five-year plan aimed at improving margins, reducing capital intensity and increasing shareholder returns, following a board-led strategic review that examined alternative business models.

Group Chief Executive Dominic Paul said the company had “considered all options to accelerate our strategy and deliver increased margins and returns,” describing the resulting plan as “bold, ambitious, and deliverable.” The review, he said, involved external advisers including three investment banks.

FY2026 performance: flat revenue, higher EBITDA, first German profitability

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Hemant Patel, Whitbread’s Chief Financial Officer, reported “flat group revenues year-on-year” as a recovery in UK accommodation sales and growth in Germany offset lower food and beverage (F&B) revenues tied to Whitbread’s Accelerating Growth Plan (AGP). Patel said operating costs fell 2%, supporting a 4% rise in EBITDA to GBP 1.1 billion.

Adjusted profit before tax (PBT) was flat at GBP 483 million, which Patel attributed in part to “high interest costs,” while adjusting items rose to GBP 185 million, mostly non-cash and related to AGP, resulting in statutory PBT of GBP 298 million. Whitbread returned GBP 419 million to shareholders through dividends and share buybacks, and ended the year with lease-adjusted leverage of 3.3x, inside its investment-grade threshold of 3.5x.

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In the UK, Whitbread posted occupancy of 79% for the year and an average room rate of GBP 82, up 3%. UK accommodation sales rose 1% to GBP 2 billion, and Patel said Whitbread maintained a RevPAR premium of “nearly GBP 6” versus the market, increasing to “nearly GBP 7” early in FY2027.

In Germany, Whitbread reached profitability for the first time, with segment adjusted PBT of GBP 2 million. Patel said Germany revenues rose 13% and EBITDA increased 28% to GBP 85 million, while local site profits increased to GBP 20 million from GBP 16 million.

Strategic review: Whitbread rejects brand sale and all-leased structures

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Paul said the company’s review was prompted by external headwinds and what he described as the market applying “a meaningful discount to our inherent value.” He highlighted UK fiscal changes since late 2024, including higher labor costs and employer National Insurance, followed by a major business rates increase in the November 2025 budget. Before mitigation, Paul said the combined impact was expected to reduce future profits by around GBP 160 million.

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Whitbread examined combinations of the hotel value chain—operations, brand/distribution and property—before concluding that an integrated model offered the best medium- and long-term value. Paul said the practical alternative options narrowed to selling the brand (effectively becoming a franchisee) or separating real estate to become a 100% leased operator.

On selling the brand, Paul argued it would reduce control over the Premier Inn product and make growth more difficult, adding that the brand likely represents “a relatively small part of the group’s overall value.” On an OpCo/PropCo shift, Paul said it would weaken flexibility to secure sites, reduce operational control and increase cyclical risk through higher operating leverage, while also potentially conflicting with maintaining an investment-grade rating.

Five-year plan targets: GBP 275 million incremental PBT and GBP 2 billion free cash flow

Paul said Whitbread’s five-year plan targets GBP 275 million of incremental profit contribution by FY2031 from “initiatives that are all within our control,” which management said would more than offset the impact of business rates and higher employment costs. The plan also aims for a 500 basis point increase in group return on capital employed (ROCE) and GBP 2 billion of free cash flow available for shareholder returns by FY2031.

Extend AGP to exit all remaining branded restaurants and become a “pure-play hotel business” (subject to consultation with employees). Increase cost efficiencies to a cumulative GBP 250 million from FY2027 to FY2031. Reduce capital intensity by cutting gross CapEx from GBP 3.5 billion to GBP 2.5 billion and reducing net CapEx by more than GBP 1 billion through additional freehold recycling. Accelerate Germany to become cash flow positive in FY2029 and deliver double-digit returns by FY2031.

Patel said the new plan assumes recycling GBP 1.5 billion of freehold property by FY2031 via sale and leasebacks and other disposals, and that Whitbread expects to reduce its freehold mix from around 50% of sites to 30%-40% over time. He also guided that net annual CapEx would fall to GBP 200 million to GBP 250 million over the plan period, down from roughly GBP 500 million previously.

UK growth: 96,000 rooms by FY2031, pipeline skewed to higher-return projects

Mark Anderson, Managing Director of Property and International, said Whitbread sees a favorable supply backdrop, with UK room supply “not get[ting] back to pre-pandemic levels until 2028 at the earliest,” and potentially later once business rates impacts are reflected. Anderson said Whitbread has increased its focus on higher-return projects and refined its pipeline, contributing to a reduction of over GBP 1 billion in group net CapEx versus the prior plan.

Anderson described a catchment-led approach across more than 1,700 UK areas to determine room opportunity and manage exits. He said Whitbread has generated over GBP 120 million from property optimization deals over the past three years and sees an opportunity to generate over GBP 150 million over the next three to four years from similar transactions.

Anderson highlighted London and Hub by Premier Inn as key growth opportunities, noting that more than 40% of the current pipeline is planned in the capital. He said Hub is generating returns “around 15%” and that Whitbread has just over 2,000 Hub rooms in the pipeline, targeting 5,000 open Hub rooms by FY2031. He also said Whitbread has acquired its first Hub site in Berlin.

Anderson said Whitbread expects to reach around 96,000 rooms in the UK and Ireland by FY2031, combining its committed pipeline and AGP extension rooms, net of exits. He said the committed pipeline of 8,000 rooms is expected to deliver GBP 110 million of incremental profit contribution by FY2031.

AGP expansion: exit all remaining branded restaurants, add 3,000 extension rooms

Simon Ewins, who runs UK and Ireland hotel and restaurant operations, said the proposed extension of AGP to all remaining branded restaurants would improve guest experience and “result in us becoming a more profitable, higher-returning, pure-play hotel business,” while simplifying the operating model. Ewins said integrated restaurant sites deliver margins “around 10 percentage points higher” than sites served by branded restaurants.

Using Margate as an example, Ewins said converting a loss-making branded restaurant into a 36-bedroom extension with an integrated F&B offer delivered more than 30% revenue growth versus pre-AGP and lifted guest satisfaction by around 20 percentage points after 12 months.

Ewins said Whitbread has completed or is on-site at 40% of the original program’s sites, with around 600 extension rooms already opened and 80 integrated restaurants opened. Under the expanded program, Whitbread expects to open a total of 3,000 new extension rooms over the next five years.

Management guided to a short-term UK profit impact in FY2027: Ewins said the extension would reduce UK profits by around GBP 40 million, with net impact of around GBP 10 million after progress from the original plan. He said the total program is expected to deliver GBP 30 million to GBP 40 million of incremental PBT in FY2028 and reach around GBP 100 million of incremental profit by FY2031. Total spend on the expanded project, excluding proceeds from restaurant disposals, was put at around GBP 660 million, with expected ROCE of 15% to 20%.

Germany: refocused expansion, cash flow positive by FY2029

Erik Friemuth, CEO of Premier Inn Germany, said Whitbread has “a model that works” in Germany after transforming its approach over the past three years. He said the company now has 71 open hotels and reached profitability in FY2026, but acknowledged the path took longer than expected due to both external factors and past decisions.

Friemuth said Whitbread has clearer insight into which formats and locations deliver the best returns—typically larger hotels in prime city centers and appropriately priced acquisitions—and will fund future growth through recycling freeholds or new leaseholds, reducing capital intensity. He said Whitbread expects to open over 2,000 rooms in Germany in FY2027 and grow from nearly 12,000 rooms at FY2026 year-end to 18,000 rooms by FY2031.

Friemuth said more established German hotels delivered around 9% ROCE in FY2026 and are expected to reach double-digit returns in the current year, with a target of more than 15% by FY2031 for that cohort. For the overall German network, he said Whitbread expects to be cash flow positive by FY2029 and to deliver double-digit returns by FY2031, alongside incremental adjusted profits of GBP 65 million and network RevPAR of more than EUR 83.

FY2027 outlook: positive trading momentum, AGP transition costs, lower net CapEx

Patel said UK trading momentum continued into FY2027, with accommodation sales up 2% and RevPAR up 1% versus last year, while F&B sales declined in line with expectations given AGP. In Germany, accommodation sales were up 9%, though a reduced events profile weighed on room rates, leaving RevPAR “slightly lower” for the total estate and more established cohort; Patel said Whitbread still outperformed the broader German mid-scale and economy market on accommodation sales and RevPAR.

For FY2027, Whitbread guided to opening 1,000 new rooms in the UK plus 750 AGP extension rooms, and around 2,300 rooms in Germany. Patel reiterated that AGP extension would reduce FY2027 PBT by GBP 40 million, offsetting gains from the original plan for a net GBP 10 million reduction. He also guided to a GBP 5 million PBT reduction related to Whitbread’s UAE joint venture “as a result of the ongoing geopolitical tensions in the Middle East.” Whitbread expects net CapEx of GBP 200 million to GBP 300 million in FY2027, supported by recycling GBP 450 million to GBP 500 million of freehold property.

In Q&A, management said it does not expect to conduct share buybacks in FY2027 due to capital spend phasing, but Patel said excess cash generation would be returned to shareholders when available under the capital allocation framework.

About Whitbread (LON:WTB)

Whitbread is the owner of Premier Inn, the UK's biggest hotel brand, with 86,000 rooms in over 850 hotels and a growing presence in Germany with 10,500 rooms in 59 hotels, offering quality accommodation at affordable prices in great locations. People are at the heart of our business. We employ over 38,000 team members in over 900 Premier Inn hotels across the UK and Germany.

The article "Whitbread H2 Earnings Call Highlights" was originally published by MarketBeat.

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Premier Inn owner Whitbread is to cut 3,800 jobs as it blamed Rachel Reeves’s tax raids for driving up its costs.

The hotel giant unveiled a new five-year strategy to save £250m, which will include replacing the remaining 197 restaurants in its hotels. It will sell 110 of these restaurants over the next two years and the rest are expected to be converted into hotel rooms.

Whitbread said the changes were likely to result in 3,800 job losses across the UK and Ireland, equal to 13pc of its total workforce across the regions.

Dominic Paul, Whitbread’s chief executive, said the company had been forced to take the step “in light of significant cost increases in the form of business rates and National Insurance”.

It follows warnings earlier this year from hoteliers that Ms Reeves’s shake-up of business rates risked triggering job cuts.More than 100 hotel bosses wrote to Rachel Reeves to raise concerns that her changes to business rates posed a ‘significant challenge’ - Rasid Necati Aslim/Anadolu via Getty Images

UKHospitality estimates that the Chancellor’s changes meant the average hotel’s annual business rates bill would increase by 115pc – equivalent to an additional £205,200 in the next three years.

More than 100 hotel bosses, including executives at chains such as Hilton, Butlin’s and Holiday Inn, wrote to the Chancellor in January to raise concerns that her shake-up posed a “significant challenge to accommodation providers in terms of their ongoing viability, and many will face tough decisions in terms of employment and their ability to invest”.

The furore about soaring business rates forced the Chancellor in January to announce an emergency tax relief package for pubs.

At the same time, the Government said it had started work on calculating the cost of an overhaul in hotels’ property taxes. However, details have yet to be announced.

Mr Paul said Labour needed to look at “a simplification and frankly lower business rate taxation”, adding: “Compared to other countries around the world, business rate taxes are punitively high, and that affects companies’ ability to invest and grow.”

Hotels have also been struggling with soaring worker costs, after Ms Reeves pushed up National Insurance contributions for employers last year.

Profits at Whitbread fell 16pc to £213m after a review concluded with a £162m write-down of the business.

Shares in the company plunged to their lowest level since the pandemic, down almost 7pc in early trading.Dominic Paul, Whitbread’s chief executive, blamed Rachel Reeves’s tax increases for driving up business costs - Eddie Mulholland for The Telegraph

Whitbread said the proposed job cuts remained subject to consultation with employees. It said it would seek to move as many affected staff as possible into new roles created by the plan or elsewhere in the business.

The group also said it planned to sell £1.5bn of its property to fund future expansion.

Story Continues

Whitbread said its new strategy would reduce the amount of property it owns outright from about 50pc to between 30pc and 40pc over time.

It will also reduce its spending on new projects by £1bn compared to its previous five-year plan.

The company said these changes would result in £2bn of spare cash that can be returned to shareholders.

While statutory profits fell, results posted by the company on Wednesday showed sales were virtually unchanged compared with last year, at £2.9bn.

It also highlighted that its hotel business in Germany made its first annual profit.

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The owner of hotel chain Premier Inn has announced plans to cut 3,800 jobs, blaming higher costs, as part of an overhaul of its restaurants.

As many as 12.6% of its 30,000 workforce in the UK and Ireland are facing the axe as the company points to the higher costs of employing staff.

The company, Whitbread, also owns food brands Beefeater, Brewers Fayre, Bar and Block, Cookhouse and Pub, Thyme bar and grill and Table Table.

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The move is part of a new five-year strategy to reduce costs and is being made in light of "significant cost increases in the form of business rates and National Insurance".

Last April the government introduced employers' national insurance contributions and a new business rates regime, which upped the amounts some firms pay.

Whitbread's new review was in part instigated due to "unexpected changes" such as "higher than expected" inflation and "significant increases in UK business rates".

The company had also come under pressure to make changes from an activist investor.

What about jobs?

Job cuts are subject to consultation, with efforts being made to move staff into alternative roles, the owner said.

"We expect to retain a significant proportion of those affected and will be looking to redeploy as many of our impacted colleagues as possible," a company update said.

About 15,000 people are hired a year, the statement added.

What else is changing?

As part of the business review, Whitbread said it would convert restaurants to an "integrated food and beverage offer", which it said is preferred by hotel guests.

As part of this, it will replace its 197 restaurants with hotel-based food and beverage offerings.

It had already agreed the sale of 51 branded restaurants and agreed terms for the sale of a further 60 sites.

Part of the changes announced on Thursday include Whitbread selling and then renting back £1.5bn of the properties it owns.

The company is unusual, compared to rival hoteliers, in that it owns about half the hotels it operates.

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Premier Inn owner Whitbread has announced plans to cut around 3,800 jobs in the UK and Ireland as part of a new five-year strategy to make £250 million in cost savings and overhaul its restaurants.

The hospitality group said it wanted to save money in light of cost pressures coming from business rates and national insurance contributions.

Its new five-year plan includes the increased cost-saving target and steps to cut capital spending by more than £1 billion.

This will see it sell off £1.5 billon worth of its freehold properties – meaning the hotels it owns outright – to “fund future growth and increasingly look to grow on a leasehold basis”.

It will also replace its 197 restaurants with an integrated food and drink model which it said was more efficient and preferred by hotel guests.

Whitbread owns restaurant chains including Beefeater, Bar + Block and Brewers Fayre.

Whitbread said the plans to reduce its 30,000-strong workforce were subject to employee consultation, and that it expects to retain a significant proportion of those affected through redeployment.

The company’s previous restructuring plan, launched in 2024, resulted in around 1,500 job cuts.

It is still planning to increase the number of hotel rooms it has open to 96,000 by the 2031 financial year, from the current of approximately 86,600.A general view of the Premier Inn hotel in Maidenhead, Berkshire, as the hotel chain has “concerns” that cladding used on some of its buildings may not meet safety regulations.·Steve Parsons

Chief executive Dominic Paul said: “We always challenge ourselves to improve and, in light of significant cost increases in the form of business rates and national insurance, as well as the implied market discount to our inherent value, we’ve looked hard at the options open to us to maximise value creation over the medium and long-term.

“This has been a rigorous process and we’ve approached all options with an open mind.

“Our new five-year plan builds on our strengths and drives a significant acceleration of our strategy.”

He added: “This plan will transform Whitbread into a higher-margin, higher-returning pure-play hotel business.

“We’re going to go further and faster to deliver a great experience for our guests and high-quality growth and returns for our shareholders.”

It comes after the business reported a pre-tax profit of £298 million for the year to February 26, which was 19% lower than the year before.

Total revenues were flat year-on-year at £2.9 billion, but UK sales edged up by 1%.

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Get insights on thousands of stocks from the global community of over 7 million individual investors at Simply Wall St.

Whitbread’s central price target has shifted to £2,600, alongside only a very small move in the modelled fair value per share from £28.85 to £28.79. Recent research shows some firms lifting targets by £100 to £200, while another trims and moves to an Equal Weight stance at £2,600. This leaves you with a mixed but useful set of signals to interpret. Next, you will see how to read these changing targets and keep track of the evolving analyst story around the shares.

Analyst Price Targets don't always capture the full story. Head over to our Company Report to find new ways to value Whitbread.

What Wall Street Has Been Saying

🐂 Bullish Takeaways

Citi and Morgan Stanley have each lifted their Whitbread price targets, with Citi moving by £2.00 per share equivalent and Morgan Stanley by £1.00 per share equivalent, which supports the idea that some analysts still see valuation upside from recent levels. JPMorgan has also raised its target by £1.00 per share equivalent, adding to a cluster of upward revisions that point to confidence in Whitbread’s ability to execute on its current plan.

🐻 Bearish Takeaways

Berenberg has downgraded Whitbread, signalling more caution on the shares and introducing a counterpoint to the recent target lifts from other firms. Barclays, through analyst Vicki Stern, has trimmed its target to £26.00 per share equivalent and maintained an Equal Weight rating, which keeps the emphasis on balanced risk and reward rather than clear upside.

Do your thoughts align with the Bull or Bear Analysts? Perhaps you think there's more to the story. Head to the Simply Wall St Community to discover more perspectives!LSE:WTB 1-Year Stock Price Chart

We've flagged 1 risk for Whitbread. See which could impact your investment.

What's in the News

Whitbread completed a share buyback tranche between August 29, 2025 and November 27, 2025, repurchasing 4,100,000 shares for £109 million, equal to 2.34% of the company. Across the full buyback program announced on May 1, 2025, Whitbread has repurchased a total of 7,700,000 shares for £217 million, representing 4.39% of the company. The latest figures indicate that the majority of the announced buyback program has already been executed, with purchases spread across multiple months in 2025.

How This Changes the Fair Value For Whitbread

Fair value per share is now £28.79 compared with £28.85 previously. Assumed long term revenue growth rate is 4.16% compared with 4.16% previously. Projected net profit margin is 10.40% compared with 10.40% previously. Assumed future P/E multiple is 21.21x compared with 21.00x previously. The discount rate used in the valuation is 12.99% compared with 12.54% previously.

Story Continues

Never Miss an Update: Follow The Narrative

Narratives connect Whitbread's business story to the analyst forecasts and fair value that sit behind the price targets. They refresh as new earnings, guidance and news come through, so you can see how the story is evolving.

Head over to the Simply Wall St Community and follow the Narrative on Whitbread to stay up to date on:

How reshaping the food and beverage offering and closing loss making restaurants in favour of higher returning hotel rooms feeds into margin and profit expectations. What reaching breakeven in Germany could mean for Whitbread as that market moves from a drag on earnings to a potential support for future profit growth. Key risks around a softer UK market, inflation, high capital spending and the impact of buybacks on Whitbread's financial flexibility if trading conditions worsen.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Companies discussed in this article include WTB.L.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com

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Zusammenfassung

Dieser Artikel analysiert Whitbread (LON: WTB) als potenzieller „Multi-Bagger“ – ein Wertpapier, das voraussichtlich deutliche Renditen erzielen wird. Die Kernstrategie besteht darin, Unternehmen mit steigendem Return on Capital Employed (ROCE) zu identifizieren. ROCE misst, wie effektiv ein Unternehmen seinen eingesetzten Kapital nutzt, um Gewinn zu erzielen.

Der wichtigste Erkenntnis für Whitbread ist ein steigender ROCE, kombiniert mit einer stabilen Basis des eingesetzten Kapitals. Derzeit beträgt Whitbreads ROCE 6,7 % – leicht unter dem Branchenmittel von 7,2 %. Wichtig ist, dass das Unternehmen fünf Jahre zuvor Verluste erlitten hat und nun profitabel ist. Die eingesetzte Kapitalmenge ist relativ stabil geblieben. Dies deutet darauf hin, dass frühere Investitionen sich auszahlen oder das Unternehmen effizienter arbeitet.

Es wird jedoch gewarnt, dass ein konsistent hoher ROCE eine kontinuierliche Neugewinnung erfordert. Ein langfristiger Multi-Bagger benötigt es, um weiterhin mit hohen Renditen zu investieren. Obwohl Whitbreads aktueller ROCE positiv ist, hat der Aktienkurs in den letzten fünf Jahren nur 2,8 % an Wert für die Aktionäre gebracht, was darauf hindeutet, dass es möglicherweise noch keine außergewöhnlichen Wachstumsraten gibt.

Das Unternehmen ermutigt zu einer weiteren Untersuchung von Whitbread, insbesondere wenn man die möglichen zukünftigen Wachstumsgelegenheiten berücksichtigt. Es betont auch die Bedeutung der Verfolgung von Branchentrends und der Berücksichtigung von Analystenprognosen. Schließlich weist das Unternehmen darauf hin, dass ein potenzielles Risiko identifiziert wurde und bietet eine Liste von Unternehmen mit deutlich höheren ROE an.

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