Leisure group Whitbread has said a sale of David Lloyd Leisure - for which it is thought to have received three bids of more than £900m - could result in a further cash return to investors. Financial Times

A revaulation of Whitbread's assets to £3.6 bn has increased the prospects of the leisure group making further returns to shareholders

David Lloyd would be the latest in a series of disposals by the former brewery company and pub operator. But despite speculation that its Costa coffee shop chain could be spun off, chief executive Alan Parker insisted there would be no further disposals after David Lloyd.

He said he remained committed to developing both Costa and Premier Travel Inn chains, as well as the Beefeater and Brewers Fayre pub-restaurants that adjoin the hotels. But he refused to comment on suggestions that Whitbread is a bidder in the €1bn (£680 million) sale of the Jurys Inn chain, but added: 'I’m interested in anything that would expand our budget hotel interests.'