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Brinker unit to renovate existing restaurants, double international presence
Brinker International Inc. is undertaking a major renovation of its Chili’s Grill & Bar chain, and also plans a major expansion of the brand overseas, Nation’s Restaurant News reports. Addressing securities analysts last week at Dallas-based Brinker’s annual analyst day, company officials said they plan a major refurbishment program for the 1,500-unit chain, as 40 percent of its restaurants are at least 10 years old.
The first renovated unit will be up and running by summer, with a targeted $300,000 remodeling budget. “We think for that we can make a big statement that will really change perceptions, align this brand with where we are trying to go,” said Chili’s president Wyman Roberts.
NRN also reports that company officials told analysts that Brinker intends to double its presence outside the United States by the end of fiscal 2014, with the opening of 425 restaurants. The company plans to accomplish that growth “through equity investments and franchise partnerships, which will allow us to take advantage of demographic and eating trends that will only accelerate in the rest of the world over the next decade,” said Brinker chairman and ceo Doug Brooks.