Whitbread lines up sell offs
Whitbread is planning to sell most of its Beefeater and Brewers Fayre restaurant chains.
The company may also sell TGI Friday, its franchised chain, along with Pizza Hut - a joint venture.
After a long period of poor returns from its pub restaurants, Whitbread is now planning the sale of 250 restaurants that are not adjacent to its budget hotels. It plans to keep the 271 pub restaurants adjacent to Premier Travel Inns. It also has plans to build smaller budget hotels on 100 other pub sites.
Group pre tax profits rose 13% to £181m with sales ahead 9.2% at £1.45bn. Premier Travel Inn, the budget hotel chain, kicked in with operating profits ahead 30% to £140m.
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