The entrepreneur who owns City Grill group, with 16 units and revenue of around EUR18 million last year, also wants to open new units.
“By late 2014 we want to open 1-2 coffee shops, a Hanu’ Berarilor unit in Herastrau area and a Buongiorno restaurant. We will also invest in the rebranding of the two already existing Hanu’ Berarilor units and we’ll invest further in the hotel we are opening above Casa Oprea Soare unit (Hanu’ Berarilor i.e.)”.
Since early 2014, Petrescu has opened a Buongiorno restaurant in Lido, in C.A. Rosetti street of downtown Bucharest and the entrepreneur’s plans for the future include the refurbishment of Hanu’ Berarilor units.
Investments in the Pache Protopopescu unit will reach EUR300,000. In the other Hanu’ Berarilor unit, Petrescu will invest EUR2.5 million over 3 years. The 21-room boutique hotel will be a 3-star unit. “We had two unused floors and we turned them into a hotel. The first 10 rooms are ready, the rest will be completed in 2015”.
Investments will be secured from own funds and works are carried out in autumn and spring for the units to keep operating.
In its 16 units, City Grill group gets 9,000 clients daily. “We expect a 16% revenue increase this year, above our initial projections related to 12% growth”.
Petrescu says he’s set to open new units, but he’s also looking for possible acquisition targets.
City Grill group has so far expanded in Bucharest’s downtown and in office buildings or airport. Future plans also envisage the development of Buongiorno and City Grill brands inside districts. For these brands, Petrescu says he’s also looking at malls such as AFI Palace Cotroceni or Baneasa Shopping City, but does not specify any timeline for a potential opening.
(English version by Catalina Apostoiu)