The Chinese roast duck restaurant chain, Quanjude, has announced plans to invest CNY119 million to expand its restaurant in Wangfujing in Beijing.
According to a report published by Quanjude, the company will invest the funds previously raised for its directly-operated restaurant in Nanjing and the renovation of its food production base into the expansion of its Wangfujing restaurant. Quanjude said that because the current number of seats, and its business area, the Wangfujing restaurant cannot meet its demands for further development. The company plans to acquire the fourth and fifth floors of Danyao Plaza, with an area of 4,412.52 square meters, to increase the business area of the Wangfujing restaurant to 15,300 square meters, including 12,500 square meters of owned area and about 2,800 square meters of lease area.
The report said that after the expansion, the fifth floor of Danyao Plaza will be used for the establishment of a flagship restaurant that integrates the classic dishes of the company's four brands.
On the completion of the expansion, the revenue of the Quanjude's Wangfujing restaurant is expected to increase by CNY35.788 million in the first year.