Added to YB: 2026-06-24
Pitch date: 2026-04-28
WTB.L [bullish]
Whitbread plc
+3.03%
current return
Author Info
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Company Info
Whitbread plc operates hotels and restaurants in the United Kingdom, Germany, Ireland, and internationally.
Market Cap
GBP 4.1B
Pitch Price
GBP 23.40
Price Target
50.00 (+107%)
Dividend
3.94%
EV/EBITDA
9.11
P/E
20.11
EV/Sales
3.20
Sector
Hotels, Restaurants and Leisure
Category
special_situation
Whitbread (WTB LN): An Interesting Activist Situation
WTB.L: Activist Corvex (6% stake, Keith Meister) pushing capital allocation reset. £4.6bn EV vs £5.5-6.4bn property portfolio—market ascribes ~zero to dominant Premier Inn (40% UK budget). April 30th triple catalyst: FY26 results, strategy reset, ~£1.5bn S&LB. SOTP ~£50 vs £24 now. 8.5x EBITDA. Risks: near-term EPS headwinds (£35m business rates, labour inflation), S&LB diminishing returns, 9.2% short.
Read full article (7 min)