TGI Fridays signs Pakistan development deal
The flagship restaurant is expected to open at the Hyatt Regency Hotel complex in Lahore.
TGI Fridays has signed a development agreement with Meerab Hospitality to expand its restaurant network in Pakistan, with the first outlet targeted to open within the next 12 months.
The flagship restaurant is planned for the Hyatt Regency Hotel complex in Lahore.
Meerab Hospitality will develop the brand in Pakistan through a combination of company-owned and approved sub-franchised restaurants.
Meerab Hospitality is the franchise and development arm of Meerab Properties, which has operated across the Middle East, South Asia, and Central Asia for two decades.
The agreement comes as TGI Fridays expands its international franchise network.
The brand said the Pakistan deal follows its recent development agreement in the Maldives and its first entry into the Balkans.
Over the past year, TGI Fridays has also signed international agreements covering Kenya, the Maldives, Peru, Japan, Mexico, the Philippines, Greece, Cyprus, and Spain.
The agreements have added close to 200 restaurants to its global pipeline.
TGI Fridays is targeting more than 1,000 restaurants and $2b in annual revenue by 2030 under its 1-2-3 Strategic Vision.
Meerab Hospitality said its expansion plans will focus on building the brand whilst investing in local hospitality talent and employment.
TGI Fridays cited urbanisation, investment in malls and mixed-use developments, and changes in dining habits as factors supporting its expansion into the market.
