Whitbread plc (LSE:WTB) is looking for M&A. Hemantkumar Patel Group Chief Financial Officer said during the Full Year Results Call Q&A session, "we are -- we use that capital allocation framework. And the way we talked about it, if I remind you, with the context of remaining investment-grade, we want to continue to invest in new room growth in selective M&A and high-returning M&A into our estate and then maintain our very transparent dividend policy and then, obviously, return excess capital to shareholders on that basis".