Rockpool Dining Group has revealed strong expansion plans that will see the hospitality group open at least 11 new restaurants this year.
The group, which currently operates 57 venues, has signed more than 15 new leases over the past 90 days, supporting its goal to become Australia’s first $1 billion dining group by mid-2021.
Construction is already underway for the following venues:
Munich Brauhaus – Southbank, QLD (May 2018)
The Bavarian – Rouse Hill, NSW (May 2018)
Burger Project Black Label – CBD, NSW (May 2018)
The Bavarian – Toowoomba, QLD (June 2018)
Fratelli Fresh – Darling Harbour, NSW (June 2018)
The Bavarian – Castle Towers, NSW (June 2018)
The Bavarian BEERHAUS – Fortitude Valley, QLD (June 2018)
The Bavarian – Southland, VIC (July 2018)
The Bavarian – Bondi Junction, NSW (August 2018)
Saké Restaurant & Bar – Manly Pier, NSW (August 2018)
Fratelli Fresh – Manly Pier, NSW (August 2018)
Rockpool Dining Group has also confirmed plans to open its first international site by mid-2020, and is currently assessing a number of locations including Los Angeles, Singapore and Shanghai.
With eight venues set to open by the end of the financial year, the group expects sale of up to $330 million and an EBITDA of up to to $40 million in FY 17/18, representing more than 30 per cent year-over-year top line growth and 40 per cent year-over-year EBITDA growth.
Rockpool Dining Group CEO Thomas Pash says the business has never been in better shape.
“Since the acquisition of Rockpool Group we’ve modified our growth plan and decided to shift our fast-casual focus to the Burger Project brand, which is delivering a solid and improving return to the Group,” he says.
“In addition, our casual restaurants – The Bavarians, Fratelli Fresh and El Camino Cantina – are expected to accelerate growth across the Australian market. The Bavarian family of restaurants have now been identified as high growth brands for the business, which we believe can scale to more than 100 locations across the country.”
