1500 jobs are set to be cut by Premier Inn across the country as its owner Whitbread announces plans to reduce its chain of branded restaurants by more than 200 in favour of building more hotel rooms
The announcement came as the Company reported a 26% rise in its final dividend and said it planned to buy back shares worth £150 million
It announced a pre-tax profit of £452million for the year ending February 29th, up 21 per cent on the previous year.
Its owner Whitbread plans to sell 126 of its less profitable branded restaurants, with 21 having already sold.
Chief executive Dominic Paul said: “We recognise that our transition will impact some of our team members so we will be providing support throughout this process and we are committed to working hard to enable as many as possible of those affected to remain with us.”
