Budget hotel chain Premier Inn is looking to grow its UK and Ireland bedroom stock and is targeting a 17% share of the combined hotel markets across the two countries.
Ostensibly, parent company Whitbread has a new long-term network target for Premier Inn in the UK and Ireland of 125,000 bedrooms – equivalent to a 17% market share and up from just under 83,000 rooms.
Whitbread has strengthened its property acquisition team to drive the expansion of both the Premier Inn and hub by Premier Inn brands across the UK and Ireland.
Whitbread currently operates a network of 82,700 hotel rooms in the UK and Ireland with a further 8,875 bedrooms in its committed development pipeline. The business is on course to open between 1,500 and 2,000 new Premier Inn rooms this financial year and will return to opening 2,000 to 3,000 rooms per year going forward.
Jill Anderson, who joins the business as a property acquisition manager from Costa Coffee, will lead the expansion of Premier Inn in the north of England, Scotland, and Northern Ireland.
Derek Griffin, head of acquisitions for Premier Inn, said: “We are focused on maintaining our position as the UK’s number one hotel business. Our network of hotels is trading well and with the backing of Whitbread’s strong covenant and financial firepower we are well-placed to invest in growing our estate through the cycle and deliver long-term value for our shareholders. Adding Jill to our experienced team of in-house property acquisition managers demonstrates our continued appetite to expand the business and deliver the next generation of new locations for Premier Inn customers.”