Dec 23, 2020

Whitbread: Premier Inn owner asks landlords for rent cut

Whitbread. Hotel and restaurant group Whitbread has asked landlords for a 50% rent cut for the next three months as pandemic restrictions continue to hit trading. Unlike many rivals, Whitbread had continued to pay rent in full. Laura Lambie, senior investment director for Investec, told the Today Programme that the letter, first reported by property news publication CoStar, was "Worrying from the landlord's point of view, not just Whitbread". In September, Whitbread warned that 6,000 of its workers could be laid off. A Whitbread spokesperson said that since the start of the pandemic the business "Has taken decisive action to ensure that our cost base reflects the low levels of demand".

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