Alsea will open more Starbucks and Domino's
- Alsea plans to open up to 90 new corporate locations by 2021, with a focus on Domino's Pizza and Starbucks.
- The restaurant operator recently renegotiated its debts and aims to maintain strong financials while achieving organic growth and profitability.
Alsea, the restaurant operator, is committed to opening up to 90 new corporate locations by 2021 as part of its credit agreement with various banks. Analysts predict that the brands set to expand will be Domino's Pizza and Starbucks, primarily due to their strong delivery services and lower capital expenditure requirements.
Alsea recently renegotiated its debts, aiming to maintain a capital balance of 8.5 billion pesos, sufficient liquidity, a capex of around 1.7 billion pesos, and organic growth of 80 to 90 new locations by 2021. Despite pandemic-related closures of some restaurants, Alsea sees opportunities to secure favorable lease terms and expects increased future profitability for its outlets.
As of the second quarter of 2020, Domino's Pizza and Starbucks represented 69% of Alsea's total portfolio in Mexico.
