Premier Inn owner Whitbread has swung to a first-half profit, buoyed by a pickup in demand for leisure travel on robust summer bookings as pandemic-related curbs eased.
Hotel operators are benefiting as people spend more on travel and book longer hotel stays, lifting occupancy rates and prices, although they are facing risks from stubborn inflation and cost-of-living woes worldwide.
Despite macroeconomic uncertainties, the company said Premier Inn UK's strong trading performance has continued, adding that it has a positive forward booked position going into the third quarter.
The hotel chain operator said the group's profit before tax for the 26 weeks ended September 1 was £307.4m, from a loss of £19.3m a year earlier.
The company's revenue for the first half of the year stood at £1.350 billion, up from £661.6m a year ago.
