Whitbread, the UK’s largest hospitality company said this week it expects to reopen all of its closed restaurants and hotels by the end of July.

Revenue across its restaurants and hotels for the 13 weeks to May 28 was down almost 80% from a year earlier, seeing share prices drop 4.39% to 2333 pence, however the company says it is seeing strong demand in regional tourist destinations as Britons look for staycations.

Morgan Stanley said it expected RevPAR to be 60% lower than a year earlier, for the year ending in February 2021.

Its city-center hotels are still struggling, it said, but it is expected to return to normal trading by 2022 and its well known brand and low prices will help it outperform rivals.

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