Livingstone brothers snap up £165m Whitbread stake
L&R's Richard and Ian Livingstone have snapped up a £165m stake in Premier Inn owner Whitbread, according to a London Stock Exchange report filed this week.
The pair bought 3.5% of the business last month, filings show. L&R's hotel portfolio already includes Atlas Hotels as well as Iconic Luxury Hotels, which includes Cliveden House in Taplow, Berkshire, and Chewton Glen in the New Forest.
Whitbread has announced that Domino's Pizza boss Dominic Paul is to take over as its next chief executive, with Alison Brittain set to step down after seven years.
The FTSE 100 giant, which also owns pub chain Brewers Fayre and steakhouses Beefeater and Bar and Block, reported "very strong trading ahead of expectations" for its first quarter in both its core UK market and in Germany, where it has been pursuing expansion.
The group revealed plans to spend millions of pounds on pay rises and site refurbishments this year amid ongoing labour shortages in the hospitality sector.
