Whitbread confirmed today it was weighing up bids for its David Lloyd chain as it announced its results for the year.
Whitbread received unsolicited approaches for the health and fitness chain earlier this year and today said: ‘We are considering approaches for David Lloyd Leisure but in the meantime, the turnaround and performance of the business is underpinning value.
It added: ‘Whilst no decision has been taken to dispose of the business we are currently examining these proposals.’
In its results for the year to 1 March it said its market value of its restaurant and hotels property portfolio had been revalued by Gerald Eve and are now valued at £3.6bn – up from £1.9bn.
Last year it disposed of a raft of pub restaurant sites and raised £497m. It also disposed of its interest in Pizza Hut which raised £99m.
It sold TGI Friday’s for £70m but this deal was not included in the results as it completed after its year end.