Whitbread 'preferred pick' in leisure sector, says Barclays

15th Sep 2023 08:03

(Sharecast News) - Barclays said on Friday that Premier Inn owner Whitbread is its "preferred pick" in the leisure sector.

It said: "We believe UK RevPAR (revenue per available room) strength is more sustainable than the market expects when we reflect on: 1) optimistic spend intentions from our latest consumer survey, 2) constrained supply, 3) UK pricing still 13% below 2007 peak in real terms and 4) Premier Inn's own pricing opportunity."

Barclays rates the shares at 'overweight' with a 4,250p price target.