NETWORK | ENGAGE | INFORM WELCOME T TO OU O OUR M MEM EMBERS & THEIR HEIR G GUESTS The LPF November Seminar: The rise of the compact budget hotel sector KEYNOTE PRESENTATION FOLLOWED BY PANEL Q&A Generously hosted by
Derek Griffin Premier Inn
Co Compact h hotel els a and Prem emier I Inn Derek Griffin , Head of Acquisitions - London and South & East England Leisure Property Forum , Tuesday 27 November 2018 52
Introducing Premier Inn • Whitbread owns the Premier Inn, hub and ZIP brands • Premier Inn is the UK’s favourite hotel brand with over 790+ hotels and 74,000+ bedrooms open today • Continuing to grow nationwide and internationally • Strong financials and flexibility are at the heart of the brand’s success • Continuing to acquire freehold, leasehold, change of use opportunities or going concerns • Major employer and developer of skills 53
Whitbread’s compact hotel brands 54
What was the big idea? • Market opportunity • Supply and demand • Accessing the most central and / or compromised locations • Broadening the potential customer base for our hotels 56
Compact, t, c comfortable a e and high-te tech
Our current portfolio in London
St Martins Lane, Covent Garden Opened November 2014
Tower Bridge Opened December 2015 62
Spitalfields, Brick Lane Opened February 2016 64
Westminster, St James’s Park Opened October 2016 66
Ki Kings Cr Cros oss Opened June 2017 68
Westminster A Abbey Opened Septe tember 2 2017 70
Good odge S St Opened October 2017 72
In the committed pipeline
Creating a central London portfolio 1,500 hub by 1,050 P remier Inn bedrooms in bedrooms open the pipeline for London in London 14 zone 1 & 2 locations 57% freehold / Investment value of leasehold +£ 450 million 43% 74
Edinburgh Haymarket Edinburgh Rose Street Su Success be beyond L London: Three h hubs i in central E Edinburgh Edinburgh Royal Mile 75
Custom omer i r insigh ght • hub is a complementary product to Premier Inn • Experience scores consistently well with customers • Compact room is highly rated for quality and design • Central locations are crucial for customers in justifying the smaller bedroom size • Opportunities to refine technology in the bedroom, add F&B design flourishes and improve food offer
Wh What’s n next? t? • Ready for second phase of growth • Opportunity to price more effectively vs Premier Inn • Develop brand awareness and engagement • Learn from customer insight • Refining the product will improve viability for UK core cities • We think there is a strong market for hub by Premier Inn rooms across the UK 77
Thank you derek.griffin@whitbread.com 07717 544 366 LinkedIn: Whitbread PLC Property
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