Elliott Advisors reveals its 6% stake in Whitbread Plc

Elliott Advisors is a unit of U.S. activist investor Elliot Management.

In the second such incident in recent months, a unit of Elliott Management, a U.S. activist hedge fund, stated it now holds the largest stake in British hotel and coffee shop operator Whitbread Plc.

Elliott Advisors, a unit of Elliot Management, has disclosed it holds more than 6% stake in Britain biggest hotel and coffee operator, without giving a reason for the increase in its stake.

The disclosure comes in the wake of another activist investor, Sachem Head, taking a 3.38% stake in Whitbread in the aim of wanting to examine a breakup of the business as a way to boost the individual values of its businesses.

Analysts and investors have since long raised the prospects of Whitbread spinning off its popular Costa coffee-shop chain.

In recent years, Whitbread has streamlined its operations and has sold off some of its pubs and brewing business and has focused on the Beefeater restaurant brand, the Premier Inn, the Brewers Fayre pub restaurant chain and Costa.

Whitbread declined to comment on Elliott’s disclosure.

In the last 12 months, Whitbread’s shares were down by almost 5%.

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