Premier Inn owner’s costs to rise by up to £50m after business rates changes

Whitbread is among hotel owners to be hit hard by changes in valuations linked to next year’s business rates payments.

The hotel firm behind Premier Inn has said it is “extremely disappointed” as it warned it will face up to £50 million in extra costs due to the Budget.

Hospitality giant Whitbread said it is among companies facing a “large increase” in business rates payments after changes announced on Wednesday.

In the Budget, the Chancellor announced changes to how business rates – the tax affecting commercial properties – will be calculated, including a new multiplier from next year.

After the initial Budget announcement, the Treasury published new rateable values for properties, which will affect how much firms pay.

Whitbread said many of its hotels have had “significant increases