Chanticleer Holdings to Open Third South Africa Hooters Restaurant in Johannesburg
CHARLOTTE, NC -- (Marketwired) -- 10/30/14 -- Chanticleer Holdings, Inc. (NASDAQ: HOTR) (Chanticleer Holdings, or the "Company"), owner and operator of multiple restaurant brand internationally and domestically, today announced that the Company will be opening a new South Africa Hooters location in Ruimsig, a suburb of Johannesburg. It is Chanticleer's third location in the Johannesburg area and fourth in the province of Gauteng, situated on Hendrik Potgieter Road, famously known as the longest road in the city.
With over 260,000 people and a median age of 31 living within a 5 mile radius to the restaurant, the Company believes the location will generate significantly higher revenues than at its prior CapeTown location. The 5,900square foot restaurant will seat 220 and house 25 flat screen TV's, a great venue for the local patrons to enjoy their favorite sporting events. The VIP opening is on December 11, 2014 and will open to the public on the December 13, 2014. Ruimsig Stadium, a multi-sport events complex including track, cycling and soccer ("football"), is nearby. Various teams trained and practiced at the stadium for the 2010 FIFA World Cup and it will be hosting the Paintball Super Cup 2014 this December 11-14th.
Darren Smith, CFO of Hooters South Africa, commented, "There's great potential to drive significant revenues to this location as the Hooters brand now has a strong foothold in the Johannesburg area. We look forward to expanding the brand in one of our country's exceptional growing cities."
Mike Pruitt, Chairman and Chief Executive Officer, commented, "We believe relocating our CapeTown location to Ruimsig was the right strategic move at this time to increase our revenue and profitability in the South Africa market. We do plan on re-entering the CapeTown area mid-2015 and potentially introducing our other concepts to the South Africa market."
About Chanticleer Holdings, Inc
Headquartered in Charlotte, NC, Chanticleer Holdings (HOTR), together with its subsidiaries, owns and operates restaurant brands in the United States and internationally. The Company is a franchisee owner of Hooters® restaurants in international markets including Australia, England, South Africa, Hungary, and Brazil, and two Hooters restaurants in the United States. The Company also owns and operates American Roadside Burgers, Spoon Bar & Kitchen and owns a majority interest in Just Fresh restaurants in the U.S.
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Forward-Looking Statements:
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Press Information:
Chanticleer Holdings, Inc.
Investor Relations
Phone: 704.366.5122
ir@chanticleerholdings.com
Source: Chanticleer Holdings, Inc.
Released October 30, 2014