- Whitbread has backed its five-year turnaround plan including restaurant closures and job cuts
- The company is closing 197 branded restaurants including Beefeater and Brewers Fayre
- Up to 3,800 roles are being reduced across England and Ireland
- Whitbread intends to offload £1.5bn in freehold property
- The board recommends shareholders reject Corvex Management’s board seat demand
Whitbread has reaffirmed its commitment to its five-year strategy while urging shareholders to reject a board seat demand from activist investor Corvex Management. The announcement confirms the hotel operator will proceed with pivoting toward a higher-margin, pure-play hotel model to shield itself from mounting macroeconomic pressures.
The strategic overhaul includes the closure of 197 branded restaurants including Beefeater and Brewers Fayre. More than 100 standalone sites have already closed or are being sold to independent operators. The total downsize involves a reduction of up to 3,800 roles across England and Ireland.
Underutilised restaurant spaces are being repurposed to add roughly 600 new hotel rooms. The business intends to offload £1.5bn in freehold property to shift toward a leasehold growth structure. In the five weeks leading up to 1 October 2026, accommodation sales grew by 4.5pc while German operations surged by 31.2pc.
