Whitbread: Giddy on coffee and cheap hotels
Costa sales grew by 19.4 per cent to £1.2billion and is on track to hit £2billion and 2,200 stores globally by 2018.
Nicholas Cadbury, financial director for Whitbread, said the firm is “investing heavily in the Costa brand” as “the high street is becoming more leisure focused, there’s greater female spending power and more mobile working.”
And as the ongoing coffee manipulation of the nation continues, the company's Premier Inns are planning to create a further 75,000 new rooms by 2018, as well as an ambitious refurbishment plan.
Whitbread's restaurant chains Beefeater and Brewers Fayre will be upgraded and expanded.
Well that's great news for coffee drinkers AND people who like a cheeky night away somewhere cheap. We're looking at you travelling salesmen and ladies of the evening.
As Hot Chocolate once put it, Every 1's a winner (baby).