Revamped Hungry Horses takings up by £5,000 per week

Greene King has seen takings per week rise by £5,000 at each of the first 26 Hungry Horse sites it has refurbished.

The company has spent £11m at the first batch of sites with takings per week per pub rising from £16,000 to £21,000. Average main meals now cost £5.90 with 40% of menu items priced below £5.

The refurbishments have seen a livery refresh, improved zoning and back-of-house upgrades. Overall, takings have risen by £250,000 per pub annually after an average capital expenditure of £420,000.

Meanwhile, the first Greene King pub converted to a Loch Fyne seafood restaurant, the Exchange Bar & Grill in Sheffield, has seen average weekly takings jump from £7,500 to £35,000 per week after a capital spend of £850,000.

One other Greene King pub conversion is about to open and three more are on site. A further 13 Loch Fyne developments are expected in the coming financial year, including six pub conversions.

The 39 Loch Fyne restaurants open have an average weekly take of £23,000, some 73% of which is food.

The 261 managed pubs in Greene King's destination pubs segment currently have an average weekly take of £16,000, some 49% of which is food.

The 492 pubs in its local pubs segment currently have average weekly takings of £12,000, some 17% of which is food. Among the growth areas on the managed side are coffee, which up by 38%, wine, up 8%, and accommodation, which is up 15%. Greene King is spending £3.3m on a two-year plan to refresh the Old English Inns' core offer.

The money is focused on improving bedrooms, breakfasts and bathrooms.