Whitbread plc (LSE:WTB) acquired freehold property on the Strand in central London on August 24, 2022. Subject to planning, 5 Strand will become the latest hub by Premier Inn hotel in the estate and is expected to open sometime during 2027. The purchase and development are being funded from the Group's existing cash resources and will also include one of the Group's popular Bar+Block steakhouse restaurants. With a total investment of over £200m, including construction and related costs, this development reflects Whitbread's commitment to continue to invest in expanding its presence in the popular London market where a significant proportion of Premier Inn's future pipeline is located.

Whitbread plc (LSE:WTB) completed the acquisition of freehold property on the Strand in central London on August 24, 2022.