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  • Chanticleer Holdings, Inc. (HOTR) Well Received In Hungary, Says CEO Of European Ops 0 comments
    Jul 24, 2013 5:39 PM | about stocks: HOTR

    Chanticleer Holdings owns and operates Hooters branded restaurants in emerging international markets. HOTR holds exclusive franchise rights to these restaurants in parts of Brazil, all of South Africa, and Hungary, and has joint ventured with the owner of exclusive Hooters franchise rights in Australia.

    Currently the company owns in whole or part six Hooters restaurants, double from three restaurants in 2011. The company's goal is to grow its number of operational restaurants by 67 percent to 10 total restaurants in the near future. As part of this strategy, HOTR currently is working to open a restaurant in Rio de Janeiro, Brazil; Townsville and Broadbeach, Australia; and most recently opened a new store in Budapest, Hungary.

    "The European reception to U.S.-based restaurants is quite good … one of the big benefits of Hooters as brand is that there's really no other brand like it. For that reason, and frankly our ability to execute well, I think we're going to do very well in Europe," Alex Hemingway, CEO of Chanticleer Holdings European Operations, states in a company video. "The reception to Hooters in Hungary has been very strong."

    HOTR has partnered with management group Crown Restaurants, an agreement under which HOTR owns an 80 percent interest in the Hungary restaurant while Crown owns the remaining 20 percent. HOTR later intends to also expand in other European markets.

    For more information visit www.chanticleerholdings.com

    Please see disclaimer on the MissionIR website

    Stocks: HOTR
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