Berenberg likes Whitbread's leading position in midscale hotel market

24th Jul 2023 16:04

(Sharecast News) - Berenberg analysts reiterated their 'buy' recommendation and 4,000p target price for shares of Whitbread, saying that they liked its position as a leading operator in the UK midscale and economy hotel market.

They also highlighted the company's pipeline for growth in both the UK and Germany.

"In recent quarters, the company has gone from strength to strength, continuing to outperform the wider market," they said.

Furthermore, they judged that Whitbread was capable of more than offsetting headwinds such as cost inflation so as to be able to grow its profit before tax in the UK in the 2024 financial year.

It would also be able to reduce its losses in Germany.