Premier Inn owner Whitbread has warned of a slowdown in holidaymaker demand for hotel rooms due to Brexit uncertainty, posting a near 40% drop in annual profits.
Like-for-like accommodation sales dropped by 0.6% in the year to 28 February due to a decline in demand.
Last year the company sold Costa Coffee to Coca Cola and Whitbread said their pre-tax profits dropped 39% to £260m with the deal stripped out.
The effects of the deal include statutory pre-tax profits hiked up to £3.7bn compared to £436m the previous year.
On the back of recent cost cutting, underlying pre-tax profits on operations rose by 1.2% to £438m.
“This weakness has increased into March and April particularly in the regional business market, coinciding with an acute period of political and economic uncertainty in the UK.