Tag: Hard Rock Cafe

  • Hard Rock Cafe to be reintroduced in Philippines

    Hard Rock Cafe to be reintroduced in Philippines

    Bistro Group has acquired the exclusive franchise for Hard Rock Cafe in the Philippines, planning to reintroduce the brand in the region after a year’s absence. The Hard Rock group has high hopes for the partnership given the new local partner’s proven performance in the “Western-driven market.”

    Area franchise development VP Steve Yang said: “The Bistro Group is a strong industry player and with its robust portfolio of brands as well as its track record for more than 20 years, we are confident that they will be a strong partner to help us take Hard Rock Cafe in the Philippines to the next level.”

    The new Hard Rock Cafe will open next month in a 653sqm space at the Conrad S Maison mall in Pasay City, with four to five branches potentially in the works for Cebu and Bonifacio Global City.

    “Putting Hard Rock inside a mall is in response to the current lifestyle trend and is one of the best locations we’ve seen in our operations,” Yang said.

    Hard Rock’s VP for franchise operations and development Anibal Fernandez said the company wants to expand its presence in high-growth markets frequented by locals and tourists.

    “Last year alone we launched cafes in Spain, Austria, South Africa, Andorra, Bolivia, India, Cambodia, Myanmar, Argentina and Nicaragua. In 2018 we are developing in Africa, Middle East, Europe, North and South America, South Asia and China, among others.”

  • Another Vietnam asset for Mapletree Investments

    Another Vietnam asset for Mapletree Investments

    Singaporean real-estate investment firm Mapletree Investments has acquired Kumho Asiana Plaza Saigon, a mixed-use complex in Ho Chi Minh City’s CBD, taking its total assets under management in Vietnam to more than US$1 billion.

    As well as a supermarket, the plaza has mainly restaurants and is anchored by Hard Rock Cafe and Starbucks. It also has Grade A offices, serviced apartments and a hotel managed by InterContinental Hotels Group (IHG). It is Mapletree’s largest acquisition in Vietnam involving a completed income-producing property.

    Korean media outlets say that South Korea’s second-largest flag carrier, Asiana Airlines, and Kumho Industrial, the two joint-venture partners of the complex, have sold off their interest for US$215 million in a bid to improve their financial health.

    “Kumho Asiana Plaza is a rare asset given its attributes such as size, strong occupancy and location,” says Mapletree CEO Hiew Yoon Khong.

    He says the group will continue to seek similar investment opportunities in Ho Chi Minh City and Hanoi.

    Mapletree entered Vietnam in 2005, and most of its projects are developed within central business districts as well as four logistics parks across the country.

    One of its main current developments is Saigon South Place, a mixed-use project in Ho Chi Minh City that will comprise Grade A office towers, serviced apartment and residential buildings, as well as the current shopping centre SC VivoCity, which Mapletree jointly developed with Vietnam retailer Saigon Co.op.