Wolverhampton & Dudley plans to convert a further 38 pubs to its Bostin' Local community pub trading model during the current financial year – and it expects up to another 200 sites will get the Bostin treatment by 2005.
In the 58 conversions completed to date, W&D says it has seen turnover double, and achieved an average cash return on incremental capital "comfortably exceeding" its target of 20%. It says new site acquisition will become more important in future in order to develop business beyond the existing estate.
W&D's chief executive Ralph Findlay said: "The 'Bostin' Local' operating model was developed following a re-appraisal of the potential of our managed pub estate. This showed that a number of pubs in good locations were capable of significantly improved performance on the back of a modernising refurbishment plan. Our solution was Bostin' Local - bright, clean and contemporary pubs, offering a wide range of attractions including big-screen TV, promotion of televised sporting events, gaming machines and music, together with the best brands, good food and good service at an excellent price."
W&D is also expanding its Service That Suits Me food format that combines. Pubs already converted have seen a 25% average increase in turnover, the company says. It to develop six more pubs from our existing estate this year, and to invest in up to 40 by 2005.
The two formats are run out of W&D's managed pub division, now called Pathfinder Pubs, will operates 488 sites in total, mainly freehold community pubs. It also includes 33 Pitcher & Piano bars, where the company has restructured management and seen a sales increase since July.
Last year, W&D trimmed its managed operation selling 23 predominantly leasehold, high street pubs and transferring 104 smaller pubs to tenancy. Over the year, Pathfinder Pubs saw like-for-like sales up 3% on an invested basis and up 1% on an uninvested basis – currently some of the best figures in the industry. Like-for-like sales in current year to date are up 2.9% on an invested basis.
In the 58 conversions completed to date, W&D says it has seen turnover double, and achieved an average cash return on incremental capital "comfortably exceeding" its target of 20%. It says new site acquisition will become more important in future in order to develop business beyond the existing estate.
W&D's chief executive Ralph Findlay said: "The 'Bostin' Local' operating model was developed following a re-appraisal of the potential of our managed pub estate. This showed that a number of pubs in good locations were capable of significantly improved performance on the back of a modernising refurbishment plan. Our solution was Bostin' Local - bright, clean and contemporary pubs, offering a wide range of attractions including big-screen TV, promotion of televised sporting events, gaming machines and music, together with the best brands, good food and good service at an excellent price."
W&D is also expanding its Service That Suits Me food format that combines. Pubs already converted have seen a 25% average increase in turnover, the company says. It to develop six more pubs from our existing estate this year, and to invest in up to 40 by 2005.
The two formats are run out of W&D's managed pub division, now called Pathfinder Pubs, will operates 488 sites in total, mainly freehold community pubs. It also includes 33 Pitcher & Piano bars, where the company has restructured management and seen a sales increase since July.
Last year, W&D trimmed its managed operation selling 23 predominantly leasehold, high street pubs and transferring 104 smaller pubs to tenancy. Over the year, Pathfinder Pubs saw like-for-like sales up 3% on an invested basis and up 1% on an uninvested basis – currently some of the best figures in the industry. Like-for-like sales in current year to date are up 2.9% on an invested basis.
