Chanticleer Holdings (HOTR) Secures Prime Restaurant Location in Pretoria, South Africa

MissionIR would like to highlight Chanticleer Holdings (NASDAQ: HOTR), a joint owner of privately held Hooters of America (HOA) and independent developer of international Hooters restaurants.  The company currently owns, in whole or in part, Hooters restaurants in Australia, South Africa, and Hungary, and also has franchisee rights covering parts of Brazil. Last year Chanticleer doubled its number of restaurants.

In the company’s news,

Chanticleer Holdings announced that it has secured a prime lease in Pretoria, South Africa. This location, which is expected to open before the end of this year, will bring the company’s total number of international Hooters restaurants to eight in three countries.

The new Hooters in Pretoria will be built in The Willows Shopping Centre, in the eastern part of Pretoria. Gordon Jestin, Chanticleer’s Chief Operating Officer for Hooters, South Africa, stated, “This is a busy, high-traffic area where its residents tend to live and shop within a 5 mile radius of The Willows Shopping Centre, making this a perfect location for a Hooters restaurant.” Jestin continued, “This strip centre affords our customers convenience and ample parking in a busy traffic pattern with more than an estimated 4,000 cars passing our site per day. We have executed a 5 year lease with a 5 year option to renew for 7,700 square feet, including a brilliant outside balcony space, with very favorable terms, including landlord-provided upfits in the buildout. We are right in the middle of a number of fast food restaurants and retail stores with the perfect demographics for our Hooters.”

Mike Pruitt, Chairman and Chief Executive Officer, commented, “South Africa, for many reasons, has been an outstanding market for our Hooters brand. Our locations continue to grow, partly due to the sports-loving nature of the South African people who can now watch sporting activities on many of the largest High Definition TVs, unique in the country, while enjoying our new menu items. That, combined with the famous Hooters girls and vibrant atmosphere, makes Hooters a destination restaurant.” Pruitt said further, “We now have Hooters restaurants in Europe, South Africa and Australia, and soon to be in the United Kingdom and Brazil, demonstrating that our American brand is becoming an integral part of leisure dining in these international markets. The recently announced Letter of Intent to acquire American Roadside Burgers, a 5 restaurant chain operating primarily in the Carolinas, gives us a growth opportunity here at home and abroad as well.”

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