Whitbread PLC
12 May 2004
12th May 2004
Whitbread announces plans to sell Courtyard hotels
Whitbread PLC ('Whitbread') announced today that it plans to sell its three-star
Courtyard by Marriott hotels, and has received approaches from a number of
interested parties.
Whitbread operates 11 Courtyard by Marriott hotels comprising 867 bedrooms, all
of which are located in the UK.
Alan Parker, chief executive designate, said: 'I announced at Whitbread's annual
results presentation that I intended to carry out a review of our property
assets, to help to achieve optimum returns for our shareholders. As a first
step we have taken the decision to exit the mid-market sector in order to focus
on developing our budget and four-star hotel brands.'
'Courtyard by Marriott is an excellent brand and these are good hotels that are
trading well. Our partner, Marriott International is committed to developing
the Courtyard brand in the UK. We will be working very closely with them during
the sale process to ensure that we identify the best possible purchasers.'
Ed Fuller, president and managing director of international lodging for Marriott
International said 'Courtyard is the leading international mid-market brand with
over 600 hotels worldwide. We are pleased that all of the buyers that have
approached Whitbread have expressed interest in further growing the Courtyard
brand in the United Kingdom. We are confident it is a brand with an exciting
future ahead of it in the UK and our objective is to significantly expand the
network and drive brand awareness in this key market.'
Whitbread has appointed CB Richard Ellis Hotels as advisors in the sale process.
-ends-
Press/City contact:
Whitbread PLC CB Richard Ellis Hotels
Dan Waugh Heather Thomas
020 7806 5442 0207 182 3949
07799 581763
David Reed
020 7806 5436
Notes to editors/ Whitbread announces plans to sell Courtyard hotels
Whitbread PLC
Whitbread PLC is the UK leisure business, managing some of the nation's
strongest brands in hotels, restaurants and racquets, health and fitness clubs.
Our 70,000 employees deliver outstanding service to millions of customers each
month at more than 1,900 locations across the UK.
Our brands include Travel Inn, Marriott, Brewers Fayre, Brewsters, Beefeater,
Out & Out, Pizza Hut, Costa, TGI Friday's and David Lloyd Leisure.
The company creates value for shareholders by focusing on organic growth in
expanding sectors of the leisure market. In the financial year to March 4, 2004,
Whitbread generated pre-tax profits of £240.8m on sales of more than £1.8bn.
Founded in 1742, the company is listed on the London Stock Exchange (as WTB.LSE)
and is a member of the FTSE 100 and FTSE4Good indices.
Further information is available from www.whitbread.co.uk.
Courtyard by Marriott
Whitbread currently operates 11 Courtyard by Marriott hotels within the UK, at
the following locations:
Coventry
Ipswich
Leamington Spa
Leeds/Bradford
Lincoln
Milton Keynes
Northampton
Northampton West
Reading
Rotherham
Slough/Windsor
This information is provided by RNS
The company news service from the London Stock Exchange
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