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| Type | Public (LSE: JDW) |
|---|---|
| Founded | 1979 |
| Headquarters | Watford, UK |
| Key people | Tim Martin (Chairman of the board), John Hutson (CEO) |
| Industry | Hospitality industry |
| Products | Public houses and hotels |
| Revenue | £907.5 million (year – July 2008)[1] |
| Operating income | ▲ £87.2 million (year – July 2008)[1] |
| Profit | ▲ £35.5 million (year – July 2008)[1] |
| Employees | 11,500 (2008)[1] |
| Website | www.jdwetherspoon.co.uk |
J D Wetherspoon plc (LSE: JDW) (commonly referred to as Wetherspoons, Wethers, Spooners, Spoonies or Spoons) is a British pub chain based in Watford. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
Contents |
History
The Company was founded in 1979 by Tim Martin and Hanahn (the playa) who opened there first Wetherspoons pub, 'Marler's Bar', at Colney Hatch Lane in London.[2] Many of the other early Wetherspoons pubs were also in the same part of Haringey. Martin took the name of the chain Wetherspoons from an old schoolteacher of his.[3]
In the early 1990s, Wetherspoons began a policy of routinely selling off their smaller and/or less profitable outlets, often—but not always—replacing them with larger premises very close by.
In 1998, Wetherspoons introduced over-sized glasses and promoted the "full pint".[4] This initiative was soon withdrawn, supposedly because customers were still asking for top-ups, but arguably because other pub chains did not follow their lead.[5]
There are now around 100 ex-Wetherspoons pubs, and none of the earliest outlets in the chain are still part of the estate. As of 2008, the oldest surviving Wetherspoons is the Rochester Castle in Stoke Newington, opened in 1983.[6]
Wetherspoon reported record sales in the year to 26 July 2009 with takings growing by 1.2% and pre-tax profit up by 13% to £66.2 million, reduced to £45 million after one-off costs.[7] Wetherspoon claimed to be "the only large pub firm which opens all its pubs early in the morning", serving breakfast and coffee as well as other meals and drinks.[7] In December 2009, Wetherspoon operated 743 pubs in the United Kingdom and planned to invest £250 million in 250 new pubs across the country over five years.[8]
Senior management
John Hutson is the Chief Executive, with total annual remuneration is £758,000, consisting of a £364,000 base salary and £394,000 bonus+other income.[9]
Operations
Lloyds No. 1 Bar
The Company also own a chain of new-style bars, under their "Lloyds No. 1" brand.[10] These bars play contemporary music (along with corresponding music videos that are displayed on wall-mounted televisions) and often have a small dance floor. Some sites change from traditional Wetherspoons Pubs to Lloyds Bars at a specific time each night, thus maximizing the potential customer base in a geographical area supported by just one pub. Such "hybrid" pubs are referred to by company staff as WetherLloyds.
Wetherspoon Hotels (formerly Lodges)
Wetherspoon also own and run a chain of hotels (known until 17 Sept 2009 as "Wetherspoon Lodges" or "WetherLodges": now Wetherspoon Hotels, following a rebranding exercise) in the UK.[11] There are (currently) 16 hotels in total, with 11 in England, 3 in Wales and 2 in Scotland. Hotel rooms are cheap, compared with some of their nearest competitors, and their locations go somewhat against the grain of having hotels in obvious tourist areas (ie along the coast), with hotels located in Bewdley, Chesterfield, Henley-on-Thames, Inverness, Salisbury, Shrewsbury, Monmouth, Minehead, Tewkesbury, Thirsk, Wigan, Birmingham, Bridgend, Glenrothes, King’s Lynn and Newport. Other hotels are scheduled to open soon. Many of the hotels regularly run special '2 nights for 1' and '3 nights for 2' offers, where customers can get an extra night's stay for nothing.
All hotel rooms have all the normal facilities one would expect: en suite bathrooms, tea- and coffee-making facilities, remote-control TV, telephone, hairdryer, etc. Customers staying at the hotel have easy access to the accompanying pub (as they share the same building), where they can order from the pub food menu.
Smoking
As with all other enclosed areas and in line with United Kingdom legislation, all Wetherspoons pubs are completely non-smoking indoors. Many offer outside sheltered areas which aim to keep smokers customers warm and dry, and awnings, patio heaters, shelves, tables and even fireplaces have become permanent fixtures outside many venues where space permits.
Wetherspoons pioneered having non-smoking areas in pubs[12] and started converting some of its pubs to completely non-smoking as early as May 2006.[13]
References
- ^ a b c d "Annual Report 2008". J D Wetherspoon. http://www.jdwetherspoon.co.uk/resource/binary/blobs/74708b7f85c87330a27aefcba1447887/2008%20Annual%20Report.pdf. Retrieved 2008-09-01.
- ^ Refurb for Tim Martin's first outlet - Property News - Morning Advertiser
- ^ The real pub landlord
- ^ The Investment Column: Wetherspoon dips in growth glitch - The Independent
- ^ The real pub landlord CAMRA - When is a pint not a pint?
- ^ Stoke Newington Pubs— The Rochester Castle— a Wetherspoons pub
- ^ a b "Wetherspoon toasts record sales". BBC News. 11 September 2009. http://newsvote.bbc.co.uk/1/hi/business/8249918.stm. Retrieved 1 December 2009.
- ^ "Wetherspoon to create 10,000 jobs in 250 new pubs". BBC News. 1 December 2009. http://newsvote.bbc.co.uk/1/hi/business/8387862.stm. Retrieved 1 December 2009.
- ^ "John Hutson: Executive Profile & Biography". BusinessWeek. McGraw-Hill. http://investing.businessweek.com/research/stocks/people/person.asp?personId=8282932&ric=JDW.L. Retrieved 23 August 2009.
- ^ Wetherspoons: Lloyds No1
- ^ Wetherspoons: Wetherspoon Hotels
- ^ "Wetherspoon pubs ban smoking" (HTML). bbc.co.uk. http://news.bbc.co.uk/1/hi/business/4201053.stm. Retrieved 2008-06-02.
- ^ "Wetherspoon pubs to ban smoking" (HTML). guardian.co.uk. http://www.guardian.co.uk/business/2005/jan/24/society.smoking. Retrieved 2008-06-02.
External links
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