Premier Inn receives £700mn for expansion in Germany
Whitbread, who is listed at the London exchange, intends to invest £200mn to £300mn a year in the expansion of its hotel subsidiary Premier Inn in Germany. The £700mn allocated so far could secure about 35 establishments with roughly 7,000 rooms, a release states. Two hotels are already open; at least 20 are to follow by the end of 2020 in Berlin, Dresden, Düsseldorf, Essen, Frankfurt, Freiburg, Hamburg, Heidelberg, Cologne, Leipzig, Munich, and Nuremberg. The Premier Inn pipeline consists of construction lots, ongoing developments, and existing hotels in conversion. In the long term, Whitbread sees potential in Germany for at least 50,000 rooms. The acquisition team is continuing to look for lots, existing hotels, or assets for repurposing in the centers of Germany’s 26 largest cities.
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