Burger King Invests $300M to Remodel Restaurants

(AmericanProsperity.com) – Burger King has announced that they will be investing three hundred million dollars into remodeling their restaurants. Restaurant Brands International, the owner of Burger King, announced a little over a year ago that they would be using two hundred and fifty million dollars to start renovations on more than one thousand stores. Additionally, Burger King will be utilizing over one hundred million dollars to invest in its app and advertising.

The parent company bought Carrols Restaurant Group for one billion dollars to speed up the remodeling process. On top of this, they are going to spend over two billion dollars to revitalize the chain’s U.S. businesses. Their plan is for the majority of their restaurants to have the same modern design by 2028.

“It was the first time in a long time that RBI had invested a significant amount of capital back into the business to co-invest with franchisees,” Burger King U.S. President Tom Curtis said. “I think the process was, ‘Let’s see how this works’… and we’re seeing early results on remodels.”

So far, Burger King has updated over one hundred stores and they’ve seen a boost in sales after their remodel. The remodels include Burger King’s drive-thru pickup for mobile orders and even self-order kiosks, which are both supposed to encourage customers to visit more often.

The CEO, Curtis, will be going across the country to pitch the remodeling strategy to the franchises and sign them up for partaking in the remodeling investment.

Shares of the restaurant fell short of their premarket trading amount after the company reported weaker earnings than they expected. However, the quarterly revenue topped what Wall Street expected.

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