Robert Tchenguiz says has interest in Whitbread

LONDON, May 9 (Reuters) - Property investor Robert Tchenguiz said on Friday he had an economic interest through contracts for differences (CFDs) in 5.5 million shares in Whitbread Plc.

The investment in the non-voting CFDs represents just over 3 percent of Whitbread's issued share capital and was made by R20 Limited, the investment vehicle of Robert Tchenguiz and adviser to the Tchenguiz Family Trust, R20 said in a statement.

Whitbread, home to Britain's biggest hotel and coffee shop chains, also owns Beefeater and Brewers Fayre pub restaurants.

At 1440 GMT, its shares were up 2.0 percent to a 2008 high at 1,400 pence.

Tchenguiz rose to prominence in the property world but is currently sitting on a paper loss on his investment in Harvester and O'Neill's pubs and restaurants owner Mitchells & Butlers Plc (MAB.L: Quote, Profile, Research).

Blue Oar Securities analyst Mark Brumby said: "A Tchenguiz stake is probably not what it was. Should the shares run sharply on this news we would be inclined to sell a few.

"Nonetheless, Whitbread is a class act. We turned buyers on April 28 and the shares have risen by 200 pence since then. We are retaining our "buy" recommendation but will watch further developments with interest." (Reporting by Dan Lalor; Editing by David Cowell)