Pancake House in Middle East expansion
The Philippines’ Pancake House Group plans to take two of its brands – Pancake House and Yellow Cab – into the Middle East, seeking to tap growth in the oil-rich countries.
Capitalising on the strong demand for Western dishes in the Middle East including Saudi Arabia, Qatar, Bahrain, United Arab Emirates and Saudi Arabia, Pancake House Group intends to open two to three Pancake House outlets and five Yellow Cab every year.
Pancake House, the flagship brand of Pancake House Group, is a casual dining restaurant chain offering specialty pancakes and waffles.
Yellow Cab, a quick casual restaurant chain that offers pizza, has been the latest addition to Pancake House Group’s portfolio which also includes Teriyaki Boy, Le Coeur France, Dencio’s and Sizzlin’ Pepper Steak. The group acquired the pizza chain only in August last year for about 800 million pesos (US$18.59 million).
In the Philippines, Yellow Cab has 82 outlets. Overseas, it is present in Malaysia, Guam, the US and Qatar.
By the year end, Yellow Cab will open 50 new outlets taking its store count to 350.
The Pancake House Group expects a net earnings of 60 per cent up this year.