Speaking to The Morning Advertiser (MA), Martin said the company remained interested in transport hubs following recent openings at Manchester Airport and Heathrow Airport.
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He said: “They tend to be pricey and building costs have rocketed but we’re still in the market, albeit a bit more cautious.”
The comments follow JDW’s latest trading update, which outlined plans for up to 25 additional managed and franchised pub openings during the current financial year, alongside an 8.2% increase in like-for-like sales.
Expansion opportunities
On potential locations for the five to 10 further managed pubs planned this year, Martin said: “We’ve covered most of the country. New pubs tend to be one-offs, e.g. a basement at Paddington station on the one hand and a former Beefeater in suburban Derby on the other.”
However, opportunities to acquire sites from other operators remained limited, with disposals often involving packages of pubs in areas where JDW already has a presence.
Franchising is also expected to play a greater role in the group’s long-term growth, with a further 10 to 15 franchised openings targeted this financial year.
Cost pressures
Meanwhile, Martin warned that the latest Budget would further widen the price gap between pubs and supermarkets.
He estimated the measures would add around 20p to the cost of a pint or meal in a pub or restaurant, compared with approximately 3p in supermarkets.
However, the chairman said JDW had yet to discuss its own pricing plans.
“We try not to comment on our own prices (we haven’t discussed them yet).”
The comments follow Martin’s criticism of rising labour costs and the VAT disparity between hospitality businesses and supermarkets in the group’s trading update.
