TGI Fridays says it’s leaning into the journey trade to regain its footing with American diners.
The informal eating chain introduced this week that it opened a brand new restaurant contained in the Hilton Backyard Inn in Hollywood. Which may not appear revelatory on the floor, however the firm referred to as the brand new hotel-based restaurant “core to the model’s transformation technique.”
TGI Fridays has struggled to stay related with its home customers in recent times. The chain suffered an 18% decline in home systemwide gross sales in 2023, The Dallas Morning Information reported. And it closed 36 “underperforming” eating places earlier this 12 months.
The corporate now hopes specializing in the journey trade can flip issues round.
“The brand new restaurant opening comes as TGI Fridays continues to see dominance throughout travel- and tourism-focused locations, together with airports, motels, and casinos,” the press launch stated.
TGI Fridays referenced the Dallas Fort Price Worldwide Airport, the place it opened a newly renovated restaurant in July final 12 months. That location is on monitor to turn into the “highest quantity gross sales location of any US airport restaurant,” the corporate says.
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The chief growth officer at TGI Fridays stated the success presents a tangible alternative for development.
“Whether or not home or worldwide, leisure or enterprise, we’re seeing vacationers gravitate to the acquainted consolation of the beloved and iconic Fridays model whereas they’re on the highway and away from residence,” Chris Devlin stated within the press launch.
There are nearly 600 TGI Fridays eating places throughout the globe.
TGI Fridays has undergone a number of management modifications since Could 2023, when Ray Blanchette stepped down as CEO. Brandon Coleman III took over the place that August however resigned and was changed by Weldon Spangler in November 2023.
