Shareholders in Whitbread are likely to press for the hospitality giant to spin off its 400 pub-restaurants and turn itself into a tax-efficient Real Estate Investment Trust, according to The Mail on Sunday. Property entrepreneur Robert Tchenguiz, who revealed last week that he had built a 3% stake in the company, and Asif Aziz, who has won permission for a budget hotel at the Trocadero centre in central London, are both believed to back the move. Whitbread has only £400m of debt, which is unusually low for a business of its size and gives it strategic options such as acquisitions or a tie-up with beleaguered Mitchells &Butlers, in which Tchenguiz has a 27% stake. However it is thought unlikely that Whitbread chief executive Alan Parker would welcome pressure from investors to change the shape of the business. The Mail on Sunday 11/05/08 page 62 (Financial)