Max’s Group to focus on restaurant business

  • Page Views 1439
  • Max’s Group Inc., the country’s largest casual dining restaurant group, said Tuesday it sold its entire stake in hotel unit Room Ventures Corp. to focus on the core restaurant business.

    RVC owns and operates the Meranti Hotel, a 59-room accommodation facility in Quezon City.

    MGI said in a disclosure to the stock exchange the asset sale would still be subject to a number of conditions. MGI did not identify the buyer and the value of the transaction.
    “Our decision to divest from Room Ventures Corp. represents another step in our efforts to make MGI more streamlined, cost-effective and focused on its core business,” MGI president and chief executive Robert Trota said.

    Opened in 2015, Meranti is a 12-story development and represented MGI’s sole venture into the hotel business.

    “As the company bolsters its authority in the casual dining market, it is dedicated to enhancing the efficiencies and systems of its restaurant operations,” MGI said.
    MGI earlier disclosed a P1-billion investment in a food manufacturing and distribution center in Cavite to future-proof the company’s continuous store expansion.
    The facility will service the needs of MGI’s brands including Max’s Restaurant, Pancake House, Yellow Cab Pizza, Krispy Kreme, Jamba Juice, Max’s Corner Bakery, Teriyaki Boy, Dencio’s and Sizzlin’ Steak.

    MGI has a network of 706 branches, with 59 across various territories in North America, the Middle East and Asia.

    MGI plans to open 80 stores this year, only 20 of which will be company-owned to support its plan to have more franchised outlets.

    The group plans to have six of its brands in Dubai by 2020. (J.B. Austria MT)

    Share

    New Posts Recently publish post More

    • 03 June 2021
      2 weeks ago No comment

      What’s next for Pacquiao after August 21 fight in Vegas

      Manny Pacquiao will challenge WBC and IBF welterweight champion Errol Spence Jr. in Las Vegas on August 21. What comes next for the 42-year-old fighter and current senator of the Philippines is a matter of great interest. Pacquiao’s longtime trainer and confidant Freddie Roach said in the summer of ...

    • 27 May 2021
      3 weeks ago No comment

      B.C. begins four-step Restart from COVID-19 pandemic

      In March and April 2021, B.C. was hit by a third wave of COVID-19 infections. But something was also about to change as Britisih Columbians registered for vaccination in record numbers between April and May. By May 24, around 60 percent of people aged 18 and over have received ...

    • 20 May 2021
      4 weeks ago No comment

      19 million vaccine doses administered in Canada

      COVID-19 vaccination in Canada started in the week of December 13, 2020. As of May 19, 2021, when Philippine Showbiz Today went to the presses, the federal government counts 19,349,980 doses administered so far. The country has a population of around 38 million, based on current estimates available online. ...

    • 20 May 2021
      4 weeks ago No comment

      Your daily dose of everything NCAA is here: ‘Rise Up Stronger: The Road to NCAA Season 96’ airs beginning May 23

      Get to know the athletes, the coaches, the teams, and what to expect this season as GMA Network via GMA Synergy unveils ‘Rise Up Stronger: The Road to NCAA Season 96,’ airing everyday beginning this Sunday, May 23, on GTV. ‘Rise Up Stronger: The Road to NCAA Season 96’ will keep sports fans entertained ...

    • 20 May 2021
      4 weeks ago No comment

      ‘DITO AT DOON’ PREMIERES GLOBALLY VIA TBA PLAY

      Film aficionados outside the Philippines will no longer be left behind as they get the chance to see “Dito at Doon” (“Here and There”) via the international premium video-on-demand service. Filipinos and cinephiles abroad can sit back and enjoy the must-watch movie of the year “Dito at Doon” (“Here and ...

    %d bloggers like this: