Banking

Property tycoons Ian and Richard Livingstone snap up stake in Whitbread

Property tycoons Ian and Richard Livingstone snap up a £165m stake in Premier Inn owner Whitbread

Property tycoons Ian and Richard Livingstone have taken a £165million stake in Premier Inn owner Whitbread.

The billionaire brothers own investment company London & Regional Properties, which has more than 100 hotels worldwide, including the Cliveden in Berkshire and the Fairmont Monte Carlo.

The Livingstones bought 3.5 per cent of FTSE 100-listed Whitbread in late September through L&R Ventures Limited, according to a stock market filing released this week. 

Premier in owner Whitbread was hammered during the pandemic but returned to profit in its most recent financial year, making £58m compared with a £1bn loss the year before.

Whitbread runs more than 800 Premier Inn hotels in the UK – where it also owns the Beefeater and Thyme Bar & Grill brands – and dozens in Germany.

Whitbread was hammered during the pandemic but returned to profit in its most recent financial year, making £58million compared with a £1billion loss the year before.

There is no indication the Livingstones are intending to buy the company.

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