Denny’s has signed an agreement with Great China International Group (GCIG) for the development of 50 new 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, food service, 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.
John Miller, Denny’s President and Chief Executive Officer, stated, “This significant development agreement is Denny’s first major expansion in China and is the brand’s largest international development agreement to date. 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.”
Sharon Huang, Business Director for GCIG, commented, “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. 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 Senior Vice President of Global Development Steve Dunn added, “Denny’s will be the most recognized American family dining brand to enter China. 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.”
As Denny’s approaches its 60th anniversary and 1,700th location, the Company believes that the Denny’s brand will become one of the largest American full service brands in the world. Through its America’s Diner brand positioning, it is providing current and new guests the promise of everyday value with craveable, indulgent products served in a friendly and inviting atmosphere. Together with its talented and committed franchisees and licensees, the Company will work to continue to expand the Denny’s platform through all types of distribution points around the globe.
Denny’s, the international restaurant concept known as America’s Diner, is one of America’s largest full-service family restaurant chains, currently operating 1,680 franchised, licensed, and company-owned restaurants across the United States, Canada, Costa Rica, Mexico, Honduras, Guam, Curaçao, Puerto Rico, Dominican Republic and New Zealand. For further information on Denny’s, including news releases, links to SEC filings and other financial information, please visit the Denny’s investor relations website. For further information on Denny’s international franchising please visit the Denny’s franchise development website at dennysfranchising.com.
