Denny’s to Develop 50 Locations in China
Denny’s Corporation today announced that it has signed an agreement with Great China International Group (GCIG) for the development of 50 Denny’s restaurants in southern China over the next 15 years.
GCIG has exclusive rights to open units in six Chinese provinces including Guangdong, Fujian, Guizhou, Jiangxi, Chongqing, and Sichuan. The Company expects the first restaurant will open in 2013.
Great China International Group is a leading Chinese-based enterprise with diversified business holdings in finance, real estate, commercial development, hotels, foodservice, television media, energy resources, and port logistics. The company has demonstrated a successful track record developing well-known global hotel brands such as Hilton and Sheraton.
“This significant development agreement is Denny’s first major expansion in China and is the brand’s largest international development agreement to date,” says John Miller, Denny’s president and CEO.
“This agreement builds upon the success the Company has had in expanding the brand internationally with recent franchise openings in Honduras, Canada, Puerto Rico, and the Dominican Republic. We are thrilled to begin our relationship in China with GCIG and are impressed with their expertise and resources. We believe that the Denny’s brand will continue to grow around the world and are focused on finding additional strong partners like GCIG as we continue our global expansion efforts.”
“As the brand’s first franchise partner in China, we are honored to have the opportunity to introduce local residents to Denny’s everyday value and craveable menu items served in an inviting, comfortable atmosphere,” says Sharon Huang, business director for GCIG. “Today’s Chinese consumers are hungry for the variety, quality, and value a brand like Denny’s represents around the world. Denny’s history of success internationally gives us confidence that this partnership will provide both GCIG and Denny’s a significant growth opportunity.”
“Denny’s will be the most recognized American family dining brand to enter China,” says Steve Dunn, Denny’s senior vice president of global development. “Denny’s has very high standards when it comes to selecting the right franchisee and is excited to be partnering with GCIG, an experienced, dedicated, and talented organization uniquely qualified to expand the Denny’s brand in China. We will work closely with GCIG to ensure Denny’s becomes the family dining brand of choice in southern China.”