EarningsThe stock trades at 14x PE for very little PBT growth over two years, while asset light competitors will continue to compound.
Market OutlookInvestor concerns exist about the near-term UK RevPAR outlook after WTB disclosed soft current trading figures for March to mid-April.
Revenue PerformanceUK RevPAR declined 4.1% year-on-year, driven by pricing, and was against the toughest comps vs 2019.