Premier Inn parent company Whitbread has confirmed a successful £1bn rights issue with an acceptance rate of over 91%, looking to shore up cash amid the ongoing pandemic.

This comes as the group announced its full-year performance was “in line with expectations”, with commercial initiatives driving trading in the second-half of its financial year.

The company currently has all 18 sites open in Germany and 49 open hotels in the UK, “ready to open” the rest of its hotels and restaurants as soon as UK government guidance permits.