Minor Food Group Plc, the operator of restaurant chains such as Sizzler, Burger King and The Coffee Club, vows to ramp up its food business expansion and open 70-90 new restaurants this year.
According to Kreetakorn Siriatha, the company's chief financial and strategy officer, the company resumed its investment in the first quarter of this year and is set to become more aggressive in the remaining months after witnessing the return of customers in the April-June period.
The company's business in certain tourist destinations such as Phuket is also back to normal, with improvements obvious in Pattaya and Chiang Mai, he said.
According to Mr Kreetakorn, the company has already opened 30-40 new branches of restaurant brands under Minor Food Group including Sizzler, The Coffee Club and Burger King, and is scheduled to open between 40-50 new restaurants in the second half of this year.
"Rising inflation has now seriously impacted overall consumer spending. It also changes their eating pattern," said Mr Kreetakorn. "Despite that concern, we believe food still has a good opportunity to grow, because Thai people are fond of the eating-out lifestyle. What we need is just to refresh our brands to offer customers new experiences."
Anirute David Collins, General Manager of SLRT, the operator of Sizzler restaurant, said the company recently opened a Sizzler restaurant at Terminal 21 Asoke in an area covering 180 square metres.
It was designed with open and modern spaces, showcasing natural tones and patterns to create a sense of ease and relaxation for visitors. It also serves new menus for office workers with high spending power.
"We have tried to explore market opportunity from a new business model which receives warm responses from customers, and we are scheduled to roll out more of the new Sizzler format in the second half of this year," he said.
In the second half of 2022, Sizzler intends to roll out strategic plans across various aspects, including onsite dining, delivery and takeaway services.
Mr Kreetakorn said the group plans to open three new Sizzler branches in the second half of this year, comprising: Robinson Lifestyle Thalang, Phuket; Ratchapruek, Nonthaburi; and Terminal 21 on Rama 3 Road in Bangkok. With such expansion plans, the number of Sizzler restaurants will reach 60 branches by the end of this year.
According to Mr Kreetakorn, given Sizzler's outperforming brand the company is considering applying Sizzler strategies to other food brands under the group.
"We confronted many crises in the past, but our group never stops investing. Nevertheless, we are closely watching the inflation problem. We are managing operation costs more efficiently by buying ingredients in big volume and stocking them for a longer time," Mr Kreetakorn said, adding that the group wants growth for its overall brands to return to pre-pandemic levels in 2023.
