TGI Fridays Makes a Big Bet on Pakistan with Meerab Hospitality

TGI Fridays has signed a development agreement with Meerab Hospitality marking a new phase of expansion for the brand in Pakistan, with aims to develop up to 15 restaurants nationwide over the coming years.

Key points

• The agreement is TGI Fridays' second market signing in the last 30 days after its Balkans entry throughout Albania, Kosovo and North Macedonia.
• Phil Broad, Global President of TGI Fridays, remarked the decision to enter Pakistan reflects both the strength of the market fundamentals and the right local partnership.
• The first flagship restaurant is targeted to open within the next 12 months at the Hyatt Regency Hotel complex in Lahore.
• TGI Fridays remarked its partnership with Meerab Hospitality will bring its signature offering of bold American flavors, legendary mocktails, a high-energy atmosphere and Fridays hospitality to the market.
• The planned rollout reflects TGI Fridays' strategy of growing in high-potential markets with experienced local partners.

As it accelerates toward its 1-2-3 Strategic Vision of 1, 000+ restaurants and $2 billion in annual revenue by 2030, the agreement marks an significant milestone in TGI Fridays' continued international expansion and further strengthens the brand's presence throughout South Asia and the Middle East.

Pakistan, with a population of more than 240 million and a median age of 21, has been identified as a market with scale, a young consumer base and long-term expansion potential. Rapid urbanization, investment in malls and mixed-use destinations, and changing dining preferences are additionally creating opportunities for international restaurant brands.

Meerab Hospitality is the franchise and development arm of Meerab Properties and brings a two-decade track record throughout the Middle East, South Asia and Central Asia, along with international hospitality experience. The partnership is projected to backing employment creation, investment in local hospitality talent and the development of a new generation of hospitality professionals.

Phil Broad, Global President of TGI Fridays, remarked the decision to enter Pakistan reflects both the strength of the market fundamentals and the right local partnership. He pointed to Pakistan's young population and fast-evolving retail landscape, alongside Meerab Hospitality's deep market knowledge and hospitality experience.

Broad continued that a new generation of guests is looking for more than just a meal – an opportunity that plays directly to TGI Fridays' strength in bringing residents together, creating a little theatre and delivering an energetic guest experience.

Pervaiz Iqbal Shahid, Founder and Group CEO of Meerab Properties, remarked "We are delighted to bring TGI Fridays back to Pakistan and to commence a new chapter for this iconic global brand in the country. Our ambition is to reintroduce the brand through an energized and well-capitalized platform, backed by solid operational leadership and a long-term commitment to responsible expansion."

In practice, the first flagship restaurant is targeted to open within the next 12 months at the Hyatt Regency Hotel complex in Lahore. Over the next decade, the partners plan to develop the brand throughout Pakistan through a combination of company-owned and approved sub-franchised restaurants.

Meanwhile, the agreement is TGI Fridays' second market signing in the last 30 days after its Balkans entry throughout Albania, Kosovo and North Macedonia. It additionally builds on international agreements unveiled over the past year throughout Kenya, the Maldives, Peru, Japan, Mexico, the Philippines, Greece and Spain. These agreements have continued close to 200 restaurants to the company's global pipeline.

For context, the expansion is part of TGI Fridays' franchise strategy of entering high-potential markets with experienced local operators that bring market knowledge, operating capability and long-term development ambition.

Notably, the planned rollout reflects TGI Fridays' strategy of growing in high-potential markets with experienced local partners. Meerab Hospitality brings the local knowledge and hospitality expertise to build the brand at scale for long-term success in Pakistan. Stay Connected with ProPakistani. Obtain the latest news and stories wherever you prefer. Follow on Google Discover. Follow on Google News Join WhatsApp. See more ProPakistani stories in Google Search and Top Stories.

For now, TGI Fridays Makes a Big Bet on Pakistan with Meerab Hospitality remains the part of the story worth watching, and further updates are likely as more details are confirmed.