Headquartered in Charlotte, NC, Chanticleer Holdings owns and operates Hooters branded restaurants in South Africa, Australia, Europe, and will soon open a Hooters restaurant in Brazil. The company selects territories based on economic growth rates and favorable demographics, focusing its expansion strategy on expected return on investment (ROI).
HOTR also has a minority interest in the privately held parent company of the Hooters® brand, Hooters of America (HOA), for which HOTR CEO Michael Pruitt sits on the board of directors. Because HOA is a private entity, investing in HOTR is the only way to invest in the Hooters brand.
The company's growth strategy is to identify international markets with strong organic growth and room for expansion opportunities. Executing this strategy, enhanced by strong leadership and stringent territory selection criteria, is paying off with the addition of several new restaurants and subsequent revenue growth.
For the three-month period ended March 31, 2013, HOTR grew total revenue to $1.6 million from revenue of $1.4 million for the same quarter the year prior. For the nine months ended September 30, 2102, HOTR reported impressive growth, posting revenue of $4.9 million as compared to $468,417 in the same period of 2011.
HOTR currently has six international locations, with an aim to amass 10 restaurants by year-end 2013. With its current exclusive international territories, HOTR sees its longer term market potential to be more than 75 Hooters locations.
For more information, visit www.chanticleerholdings.com
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