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<ul><li>The Irish boy band is set to perform in Mumbai, Bengaluru and Delhi.</li><li>Ticket sales for the three scheduled shows are set to start from September 15.</li><li><keyword id="84312" type="General" weightage="100" keywordseo="westlife" source="Orion">Westlife</keyword> is the only band to have their first seven singles enter the UK chart at No.1.</li></ul><br />It seems if you are a 90s kid, nostalgia is being served in abundance in India in the pop music circuit. After Backstreet Boys enthralled crowds in Mumbai and Delhi in May earlier this year, another boyband from the era - Westlife - are set to bring their ‘The Wild Dreams’ tour to Mumbai, Bengaluru and Delhi from November 24 to 26.<br /><br />The band, consisting of <keyword id="84314" type="General" weightage="50" keywordseo="nicky-byrne" source="Orion">Nicky Byrne</keyword>, <keyword id="835891" type="General" weightage="50" keywordseo="kian-egan" source="Orion">Kian Egan</keyword>, Shane Filan and <keyword id="835893" type="General" weightage="50" keywordseo="mark-feehily" source="Orion">Mark Feehily</keyword>, are known for their hits like<em> If I Let You Go, Seasons In the Sun, My Love</em> and more.<br /><br />The Irish music sensations India tour will be produced and promoted by <keyword id="600792" type="General" weightage="50" keywordseo="BookMyShow" source="Orion">BookMyShow</keyword> and ticket sales are expected to go live from September 15. The first two days have been reserved for Kotak credit card holders and general sales will commence from September 17.<br /><br />The group of four with — Shane Filan, Mark Feehily, Kian Egan, Nicky Byrne. Brian McFadden had left the group in 2004. They disbanded in 2012 after 14 years, and reunited in 2018.<br /><br />"India has always held a special place in our hearts. We are so excited to share The Wild Dreams tour with all of our fans in India. Get ready for an unforgettable night of music and memories with us," the band shared their excitement about the upcoming tour.<br /><br /><strong>Where and what will they perform?<br /><br /></strong>The tour will kick-off at the Members Enclosure, RWITC, Mahalaxmi Racecourse, Mumbai on November 24th, followed by Embassy International Riding School Ground, Bengaluru on November 25th and culminate at the Jawaharlal Nehru Stadium in New Delhi on November 26th, 2023.<br /><br />The group is expected to perform all their greatest hits including ‘Swear It Again’, ‘If I Let You Go’, ‘Uptown Girl’ and ‘Hello My Love’ as well as fresh pop anthems from the 2021 special-edition studio album ‘Wild Dreams’, released to critical acclaim.<br /><br />Westlife has sold over 55 million records across the globe and is the only band to have their first seven singles enter the UK chart at No.1.<br /><br />Westlife's ‘The Wild Dreams’ Tour has been an international phenomenon, drawing fans from all corners of the world. The global pop sensation kicked off ‘The Wild Dreams’ Tour in 2022 performing across the UK, including a sold-out headline show at London’s iconic Wembley Stadium which was shown live in cinemas across the UK and Europe.<br />

After Backstreet Boys, Westlife set to visit India – 3 shows lined up in November-end

<ul><li>Quick service restaurants are expected to be largely safe from inflationary pressure and overall slowdown.</li><li>The quick service restaurants have shown decent valuations amid the market corrections in the last six months.</li><li>The discretionary companies like retail, QSRs and Jewellery will be performing well for now, ICICI Securities added.</li></ul>Even with high inflation and other greater economic pressures, Indians do not seem to have lost their appetite for fast food. McDonalds, Burger King, Domino’s India and KFC – quick service restaurants – will see a brighter future ahead, predicts brokerage firm ICICI Securities. <br /><br />Though an overall slowdown and high prices of essentials hurts mass consumer demand, quick service restaurants are expected to be largely safe from this negative sentiment.<br />“Management commentary of QSR companies is far more positive vs. near-term woes for consumer staples,” ICICI Securities added. <br /><br />Secondly, there has been a sharp stock price correction in the public market since the beginning of the year. Yet, the quick service restaurants like Burger King India, Domino’s India, McDonalds, KFC, Pizza Hut and Taco Bell in India have retained decent valuations. <br /><br />“We note that most QSR stocks have corrected in the last six months (down 17-27%) given expensive valuations, fears of higher competition (narrative) and overall slowdown concerns (and broader market weakness),” the brokerage firm added.<br /><table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> Quick Service Restaurants <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stock performance year to date<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Restaurant Brands India<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Burger King India<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-27.32%<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jubilant FoodWorks<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Domino’s India, Popeyes India <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-28.48%<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sapphire Food<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">KFC India, Pizza Hut India, Taco Bell India<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-19.38%<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Westlife<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">McDonald's in western India and South India.<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-13.86%<br /><br /></td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: Bombay Stock Exchange<br /><br />ICICI Securities noted that recent stock correction of Sapphire Foods – which owns brands like KFC, Pizza Hut and Taco Bell — appears to be “unjustified” given that the company was already trading at a large discount to peers. Besides, there has been continued execution improvement in all three metrics of average daily sales, margins and store expansion.<br /><br />For Domino’s owner Jubilant FoodWorks, all the concerns have been priced in already and the success of its fast food chain Popeyes would be a trigger for the stock. <br />      <br />“We stay long-term believers in Westlife. We reckon restaurant brands India (earlier: Burger King India) is a cyclical recovery play,” the report added.<br /><br /><div type="javascript" title="Custom" contenttype=""><cdata><![CDATA[]]></cdata></div><br />The companies are also planning to expand their networks by adding anywhere between 50-250 outlets to their network in this fiscal year.<br /><br /><table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY2021<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY2022<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY2023E<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY2024E<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Restaurant Brands India<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">265<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">315<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">390<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">470<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jubilant FoodWorks<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,396<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,623<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,898<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2,123<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sapphire Food<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">437<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">576<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">723<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">867<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Westlife<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">305<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">326<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">366<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">411<br /><br /></td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: Company Data, ICICI Securities Research<br /><br />Overall, ICICI Securities sees the low-ticket segment of staples struggling due to its dependency on the bottom strata for incremental volumes. However, the discretionary companies like retail, QSRs and jewellery will be performing well for now.<br /><br /><strong>SEE ALSO:<br /><a href="https://www.businessinsider.in/india/news/indias-richest-people-are-moving-to-uae-australia-and-singapore/articleshow/92181712.cms">India’s richest are moving to UAE, Australia and Singapore — but there’s nothing to worry</a><br /><a href="https://www.businessinsider.in/business/corporates/news/nearly-four-lakh-fliers-are-thronging-airports-every-day-and-indigo-is-flying-half-of-them/articleshow/92179593.cms">Nearly four lakh fliers are thronging airports every day and Indigo is flying half of them</a><br /></strong><a href="https://www.businessinsider.in/business/auto/news/maruti-suzuki-will-gain-the-most-from-economic-recovery-and-also-regain-lost-market-share-say-brokerages/articleshow/92171487.cms"><strong>Maruti Suzuki will gain the most from economic recovery and also regain lost market share, say brokerages</strong></a><br />

Burger King, Domino's & KFC to see high growth even as consumer staples suffer

<ul><li><strong>Most quick service restaurants are expanding their stores but banking mostly on deliveries and takeaways rather than on dine-in consumers. <br /><br /></strong></li><li><strong>McDonald's and <keyword id="58553" type="General" weightage="20" keywordseo="pizza-hut" source="Orion">Pizza Hut</keyword>, however, are outliers to the general trend of setting up stores that are meant to mostly deliver. <br /><br /></strong></li><li><strong>Customer experience has become integral to driving up sales at these outlets.<br /><br /></strong></li><li><strong>McDonald's and Pizza Hut have become omnichannel players whose sales come from both on and off-premise channels.</strong> <br /></li></ul>At a time when many restaurants in India are looking to cut down physical presence and move to cloud kitchens, quick service restaurants (QSRs) like KFC, Pizza Hut, McDonald's, Burger King and more are going in for extensive store additions over the next few years.<br /><br />According to a report by IIFL, as many as 820-920 such restaurants will be added every year as most franchises that run the aforementioned brands are looking to double their store count in the next four to five years. But, that does not necessarily mean more table space – a lot of them are banking mostly on delivery orders and takeaways rather than on dine-in consumers. <br /><br />Small stores mean lower capex, less rental space and lower costs of servicing. They are also perfect for leveraging the increased love for delivery orders – which is growing exponentially. “Food delivery is likely to double its share of the market to 15-20%,” said a report by Credit Suisse. <br /><br />And the love for fast food is also growing – all of these bode well for US-based brands. “Within the eating-out market, the share of QSR and Western fast food (~1.6% share) could increase allowing mid-teens industry growth over the next 5 years as per estimates cited by Westlife,” said Credit Suisse. Westlife is the franchise for McDonald's in India. <br /><br /><strong>Big is the new small <br /></strong><br />McDonald's, however, is playing it a tad differently from its competitors in the Western fast food game in India. It is looking to build larger restaurants and catch the dine-in customers as well as the take-out and delivery consumers. <br /><br />“Westlife/McDonald’s reiterated their preference for the larger-size, longer-lease store model, which they have successfully figured out; the rest of the listed universe has pivoted to a smaller -store format. Westlife believes that the large-store format is better suited from a longer-term perspective given that catchment volumes continue to grow,” said Credit Suisse. <br /><br />The secret sauce of winning the large-store game lies in the type and kind of meals served. In addition to burgers, sodas and sides, McDonald's also has a strong breakfast menu and coffee and chicken-related items that bring in more footfalls throughout the day. <br /><br />“The success/failure of store formats (large vs small, long lease vs short) depends on brand pull, ability to access various day parts etc. Therefore, while larger stores work for Westlife, newer players like Burger King or delivery-focused ones such as Jubilant could find smaller formats more suitable,” said Credit Suisse. Jubilant is the franchise for Domino’s in India. <br /><br /><b>Size does matter <br /></b><br />In the last few years, the business dynamics of Western fast food retailers underwent a transition as the delivery channel ‘unfolded’. This is especially so in the case of KFC and Pizza Hut, both from the Yum Brands stable.<br /><br />“Since FY19, both Yum franchisees reduced the store size of all new stores for both KFC and Pizza Hut by 40% thereby reducing capex, occupancy, and operating cost,” said a report by Mirae Asset Capital Markets, referring to Devyani International and Sapphire Foods that run KFC and Pizza Hut.<br /><br />Mirae also says that most of these stores are operating at margins upwards of 20%, implying payback in less than three years. This low-gearing, the research firm predicts, will translate into free cash flow generation, and help Yum Brands expand to tier 2 and tier 3 towns. <br /><br /><strong>Pizza Hut takes a leaf out of Domino’s playbook <br /></strong><br />Pizza Hut, in particular, charted a story of extensive transformation from a dine-in brand to an omnichannel brand, like McDonald's. Pizza Hut’s strategy was in stark contrast to its closest competitor, Domino’s. While Domino’s heralded a new era of pizza delivery long before app-based ordering kicked in, Pizza Hut – which placed itself as a premium brand, intended to bring walk-ins into its large stores. <br /><br />Pizza Hut’s offerings were priced at a 15-20% premium to Domino’s, even when the average ticket size of the pizza category itself was high at ₹450. According to a report by Phillip Capital, Pizza Hut’s premium positioning, elevated focus on dining-in, and a lot of gaps in its product portfolio compounded the problems. The payback period of Pizza Hut (for franchise owners) was at 8-9 years while that of Domino’s stands at two-and-a-half to three years. <br /><br />“Moreover, store size being almost double Domino’s, its ROCE (return on capital employed) was in single digits, and as a result, never motivated franchisee operators to put more stores,” said Phillip Capital. Domino’s, on the other hand, is now the largest QSR chain in India with 1,567 stores as of FY22. <br /><br />Over the years, however, Pizza Hut has pivoted – it has expanded its product options, introduced economy-range products, experimented with omnichannel format since 2016-17 and reduced its store size by a net 45%, as per Phillip Capital. It achieved this by reducing the size of its kitchens with better utilisation, value engineering and removing non-core kitchen equipment. <br /><br />“Similarly, it has been able to halve its dine-in area to 500 sq. ft. from 1,050 sq. ft. earlier, with optimum utilisation of space. Interesting thing is, it has been able to do this without impacting average daily sales (ADS), given its focus on the delivery channel,” said Phillip Capital. <br /><br />It also focussed on delivery, but has retained some of its initial dine-in strategy to become a true omnichannel player like McDonald's. In FY18, McDonald's’ on-premise sales was 82% of total sales, but the mix is now almost the same between off and on premise. Similarly, Pizza Hut and KFC too changed tracks to become omnichannel players with equal sales both on and off-premises. Domino’s, on the other hand, overturned its off and on premise strategies to focus extensively on delivery. <br /><br />Another chain from the Yum Brands stable, KFC too went in for value engineering, to include more tables. Although dine-in space, on an average, reduced by 60% to 500 sq. ft, the number of tables did not reduce at the same rate, indicating that the company had used its store space well, Phillip Capital said.<br /><br /><strong>Where do QSRs get their sales from?<br /></strong><table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY18<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY18<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY22<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY22<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">On-premise<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Off-premise<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">On-premise<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Off-premise<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Domino’s<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">65%<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">35%<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">35%<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">65%<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">McDonald's<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">82%<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">18%<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">52%<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">48%<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Pizza Hut<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">72%<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">28%<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">41%<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">59%<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">KFC <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">89%<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">11%<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">54%<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">46%<br /><br /></td></tr></tbody></table><br /><strong><em>Source: Phillip Capital </em><br /></strong><br /><strong>Future-ready experiences <br /></strong><br />Being an omni-channel brand comes at a cost to players like McDonald's, Pizza Hut and KFC alike, which means more overheads in addition to maintenance of ‘larger spaces’. For example, Westlife, which runs McDonald's, is investing 30% of its capex on renovating the look and feel of its stores.<br /><br />Moreover, half of all its McDonald's outlets have been upgraded to the Experience of the Future (EoTF) model – where customers are provided with WiFi to work at the stores, and also boasts of digital offerings like self-ordering kiosks. It intends to upgrade all of its stores to the EoTF model which will bring in more customers and keep them there for a long time. <br /><br />“The significant improvement in customer experience tends to bump up walk-ins and leads to higher daily sales driving a strong return on the incremental invested capex – at around 35%,” said Credit Suisse. <br /><br />Ultimately, big outlets or small, the success of Western fast food retailers will depend on how well they can satiate both – the customers’ hunger pangs as well as their rising need to have memorable experiences.<br /><br /><strong>SEE ALSO <br /><br /><a href="https://www.businessinsider.in/business/startups/news/a-hyperlocal-ott-stage-born-in-funding-winter-wants-to-tell-stories-in-indian-dialects/articleshow/96754638.cms">A hyperlocal OTT born in funding winter wants to tell stories in Indian dialects</a><br /><br /></strong><a href="https://www.businessinsider.in/business/news/peyush-bansal-and-aman-gupta-invested-1-crore-in-hoovu-know-all-about-this-floral-startup/articleshow/96730114.cms"><strong>Shark Tank India judges Peyush Bansal and Aman Gupta invest in Hoovu Fresh - Here’s all about this floral startup</strong></a><br /><br /><br />

Delivery versus dine-in: Why McDonald's is going ‘big’ even as rivals slash store sizes

<ul class="summary-list"><li>The 2022 F1 Singapore Grand Prix is taking place from September 30 to October 2.</li><li>It's the biggest party weekend of the year in Singapore.</li></ul><p>The F1 Singapore Grand Prix is back after a two-year pandemic hiatus, and the city is gearing up for its biggest weekend — think parties, fast cars, and global music acts converging all in one spot.</p><p>Home to the <a href="https://www.formula1.com/en/latest/features/2015/9/do-you-remember----f1s-first-ever-night-race.html">first Grand Prix night race</a>, the country shuts down public roads in the city center and transforms them into a brightly lit track known as the Marina Bay Street Circuit.</p><p>Around 268,000 fans attended the 2019 F1 Singapore Grand Prix — the second-highest on record since the 2008 inaugural race, race organizer Singapore GP told local news outlet <a href="https://www.straitstimes.com/sport/formula-one/formula-one-second-highest-total-of-268000-fans-attend-this-years-singapore-grand">The Straits Times</a>. This year's race, held from September 30 to October 2, is expected to draw a similar turnout, Singapore GP told local news outlet <a href="https://www.todayonline.com/singapore/f1-night-race-2022-singapore-gp-confident-turnout-second-highest-2019-1954576">Today</a>. </p><p>Those without tickets can catch the action on two of the country's major pay-TV <a href="https://www.straitstimes.com/sport/formula-one/formula-one-fans-in-spore-can-enjoy-action-from-both-singtel-and-starhub">broadcasters</a>. It's a big, celebratory event — even non-F1 fans will head out to the clubs for a slice of the action.</p><p>Want in? Get ready to pay up. Here's how much it'll cost you to party big during F1 weekend in Singapore.</p><div type="image" title="Skyline of Singapore with view on the F1 race track" height="3311" width="4414" msid="94295966" hostid="261" sizebytes="960148"></div><h2><strong>Race tickets: S$98 - S$9,898</strong></h2><p>Prices for single-day general admission tickets <a href="https://singaporegp.sg/en/tickets/general-tickets">vary across the weekend</a>.</p><p>Ticket prices start at 98 Singapore dollars, or $70, for the practice race on Friday and go as high as S$988 for the race on Sunday. Three-day tickets will set you back as much as S$1,288.</p><p>There are also three-day <a href="https://singaporegp.sg/en/tickets/hospitality-packages">hospitality packages</a>, which include free-flow drinks and access to viewing galleries for prices ranging from S$1,605 to S$9,898.</p><p>The S$9,898 package — the <a href="https://singaporegp.sg/en/tickets/hospitality-packages#description-6-309">Formula 1 Paddock Club</a> — lets attendees watch the race from an air-conditioned suite above the pit garages. They also get access to walk down the pit lane and check out the cars and the race crew. </p><h2>Concert tickets: Only for those who hold race tickets</h2><p>The <a href="https://singaporegp.sg/en/entertainment/2022-entertainment-line-up">F1 concert lineup</a> this year includes Westlife, Green Day, and Marshmello. To catch the concert, you'll need to have tickets to the race first.</p><h2>Prices for top hotels: Upwards of S$1,700 a night</h2><p>The Marina Bay Street Circuit is surrounded by some of the largest hotels in the city.</p><p>But, as of September 16, rooms in <a href="https://www.panpacific.com/en/booking/make.html?ppcode=ppsin">Pan Pacific Singapore,</a> <a href="https://www.ritzcarlton.com/en/hotels/singapore">the Ritz-Carlton Millenia Singapore</a>, and the <a href="https://be.synxis.com/?adult=2&amp;arrive=2022-09-30&amp;brand=FULLERTON&amp;chain=10237&amp;child=0&amp;currency=SGD&amp;depart=2022-10-03&amp;hotel=27212&amp;level=hotel&amp;locale=en-US&amp;rooms=1&amp;shell=rSINFH&amp;start=availresults&amp;template=rSINFH">Fullerton Hotel Singapore</a> were completely sold out from September 30 to October 3.</p><p>A representative for the Ritz-Carlton Millenia Singapore told Insider that room prices during the F1 weekend were around S$1,700 to S$2,000 per night. In contrast, rooms on a non-F1 weekend at the Ritz start from S$650 a night, per the hotel's <a href="https://affiliate.insider.com?u=https%3A%2F%2Fwww.marriott.com%2Freservation%2FrateListMenu.mi%3FdefaultTab%3Dstandard">website</a>.</p><p>There are still rooms available at Parkroyal Collection Marina Bay hotel, where the Singapore Night Race (Track View) <a href="https://www.panpacific.com/en/booking/make.html?ppcode=prsmb">package</a> costs S$2,500 per night. A representative for the company told Insider a minimum stay of three nights is required during that period.</p><p>Hotel room rates in Singapore are almost reaching a 10-year high, based on data from the <a href="https://stan.stb.gov.sg/public/sense/app/4133707d-4e8d-4f83-b419-ad1c2be1e102/sheet/3f44ed9e-2b5b-4d8f-b77a-36c9256ef0a2/state/analysis">Singapore Tourism Board</a>. In July, the average room cost was S$259 — the highest since prices peaked at S$261.66 a decade ago in September 2012.</p><div type="image" title="Fullerton Hotel Singapore aerial view" height="2688" width="3583" msid="94295968" hostid="261" sizebytes="929074"></div><h2>Big-name parties: Upwards of S$80</h2><p>Of course, the party doesn't end when the race ends.</p><p><a href="https://amber-lounge.com/singapore/">Amber Lounge</a> is one of Singapore's biggest F1 after-parties, which is also held in Monaco and Abu Dhabi. This year's party will be held at <a href="https://www.fullertonhotels.com/fullerton-bay-hotel-singapore">The Fullerton Bay Hotel</a> and touts "immersive theatrical cabaret," "cirque-themed performances," and lots of Champagne.</p><p>Entry passes for the party cost between S$800 and S$1,200. Groups of 10 who are looking to party in a VIP suite and have S$45,000 to burn can buy a package that includes vodka, caviar, and yes, Champagne.</p><p>Marquee Singapore, a nightclub at the Marina Bay Sands, or MBS, is celebrating race weekend with DJ <a href="https://marqueesingapore.com/event/marquee-race-weekend-presents-steve-aoki/">Steve Aoki</a> on September 30 and <a href="https://marqueesingapore.com/event/marquee-race-weekend-presents-afrojack/">Afrojack</a> on October 1. General admission tickets start from S$80, while express entry tickets start from S$250.</p><p>There's also the <a href="https://www.marinabaysands.com/entertainment/shows/mandala-weekender.html">Mandala Weekender</a> party happening at the MBS convention center for all three nights of the race weekend. The party costs upwards of S$148 a head and and features artists such as Kelis, Rae Sremmurd, and Rudimental.</p><h2>Special F1-related food deals: Upwards of S$200 </h2><p>Restaurants around the city are catching F1 fever, too.</p><p>Perched 57 stories above the ground, right at the top of the iconic MBS, is Cé La Vi Singapore. The rooftop restaurant opens up to views of the city-state on one side and the open sea on the other. It has a four-course <a href="https://www.marinabaysands.com/content/dam/revamp/restaurants/restaurant-details/ce-la-vi-skybar/CE-LA-VI-Race-Set-Menu.pdf">F1 set menu</a>: For S$300, you can feast on dishes like Boston lobster and Japanese king crab.</p><div type="image" title="The Marina Bay skyline as viewed from Marina Bay Sands." height="3394" width="4526" msid="94295969" hostid="261" sizebytes="985196"></div><p>LAVO, an Italian restaurant also on the MBS rooftop, is holding a <a href="http://lavosingapore.com/event/party-brunch-f1-race-weekend-with-gil-glaze/">Race Weekend Party Brunch</a>. For S$248, diners get to enjoy their food with free-flow drinks while Swiss DJ Gil Glaze spins his beats.</p><p>Alternatively, diners can indulge in some French food over at La Brasserie's Winning Formula Brunch, which costs S$238 with free-flow Champagne and house wines.</p>

F1 is the biggest party weekend of the year in Singapore, but it'll easily set you back thousands of dollars. We broke down the prices.

<ul><li>INOX recently launched Megaplex, an 11-screen threatre in Mumbai to elevate the movie-going experience.</li><li>The multiplex plans to launch Megaplexes in more cities, starting with Lucknow in an attempt to bring people out of their homes to watch movies in theatres instead of at home.</li><li> Alok Tandon, CEO, <keyword id="105311" type="COMPANY" weightage="20" keywordseo="INOX-Leisure">INOX Leisure</keyword> walks us through INOX’s performance and why it is strengthening its experiential offerings.</li></ul>Multiplex chain INOX Leisure recently launched Megaplex, an 11-screen theatre in Mumbai’s Inorbit Mall, Malad, with an aim of transforming movie-watching into a more experiential experience and to further increase its engagement with its audiences. <br /><br />With 1,600 seats, INOX is said to have invested between Rs 50-60 crore. It will offer 6 different movie viewing formats, IMAX, ScreenX, MX4D, Onyx LED, Kiddles and INSIGNIA.<br /><br />In a recent conversation with Alok Tandon, CEO, INOX Leisure, we tried to understand the reasons behind the organization’s increased focus on experiential, and also what the future of INOX would look like, and what role marketing will play in it.<br /><br />Edited excerpts:<br /><br /><strong>Q) Why was this a good time to launch Megaplex? </strong><br /><br />While the criticality of the role of ‘content’ in the cinema exhibition industry is massive, we were determined to play our part and offer an even more engaging experience to our guests. We were therefore, determined to up our experience game by creating massive experience-led entertainment destinations. Grand and chic INOX multiplexes took shape in Bangalore, Kolkata, Jaipur, Hyderabad and many other cities, but what really set the tone for the new decade was the recent launch of INOX Megaplex at Mumbai. Apart from being an architectural masterpiece in the cinema space, Megaplex also comes with innovative F&amp;B concepts and an elaborate gourmet selection. <br /><br /><strong>Q) Why did you choose to launch Megaplex in Mumbai? What other cities are you planning to expand to?</strong><br /><br />The entire country looks up to Mumbai as the heart of Indian cinema, and putting up a destination like this in Mumbai was a matter of huge pride for us. Our next Megaplex is coming soon in Lucknow in the Phoenix Market City. We have strategically decided to make massive experience-driven entertainment destinations as a part of our growth strategy, and you would see more Megaplexes rolling out over the years. <br /><br /><strong>Q) What are your expansion plans for INOX in terms of number of screen? What is your vision for INOX?</strong><br /><br />We currently stand at 617 screens across 68 cities in 147 multiplexes. We have a robust pipeline of over 900 screens that are going to come up across the country. As the passion for the giant screen experience is evenly spread across the country, so are our expansion plans. You will see INOX coming up in the highly urban locales to non-metros, to Tier II and Tier III centers as well. <br /><br /><strong>Q) A lot of youngsters are choosing to watch content on OTT now. How are you enticing this group of audience? <br /></strong><br />The preference for watching content on OTT platforms is on the rise but it has not impacted the footfalls in cinemas so far. If the footfall figures are anything to go by, I believe OTT and cinemas are going to co-exist, with the quantum of content consumption increasing with increasing availability. We will continue to entice film patrons with the various formats we offer and by driving our experience strategy rigorously through luxury, service and technology aspects. We want to ‘de-couch’ Indian cinema lovers with supreme standards of cinema viewing experience, and we have done it with a lot of success. We have also innovated a lot on our F&amp;B services. On the marketing front, we have adopted a lot of experiential marketing initiatives to develop a stronger bond with our guests. Whether we are promoting a movie, or hosting a special screening, we have added a lot of fervor to our events. We have also successfully ventured into screening of concert films like BTS, Westlife and Metallica. We have also done reasonably well with Live screening of sporting events and brand alliances with various sporting leagues including the NBA, IPL and the PBL. We were one of the three multiplex operators in the world that got the screening rights of the ICC Cricket World Cup 2019.<br /><br /><strong>Q) How are you making the entire experience more seamless, in terms of tickets bookings, cancellations etc?</strong><br /><br />A lot of effort has gone into making the ticketing and food ordering experience seamless and digitally-enabled. The aspiration was to remain available at the guests’ fingertips the moment they make the decision of going for a movie. <br /><br />Our redesigned app is intuitive and simple to navigate, much like our website. You can avail food combos at offer prices while making an online booking. In case you are visiting the multiplex without a booking, you will be greeted with interactive touch screens, which allow you to book tickets, order food and make the payment, all at one go. Even our box offices are enabled with touch screens, making the transaction faster and transparent, with a personal touch. The endeavor is to ensure that the guests do not have to stand in queues while entering or while ordering the food.<br /><br /><strong>Q) Tell us a bit about INOX's performance in this financial year? Did the general industry slowdown lead to lesser footfall?</strong><br /><br />FY20 has been great so far. H1 saw us reporting the best growth in the industry, on footfalls, at 24%, on revenue at 30%, EBITDA at 48% and on PAT at 89%, all on a year-on-year basis. Our occupancy too grew by 319 base points in the same period. We have added 46 screens and 9 properties so far. The need and urge for entertainment, and that too cinematic entertainment has stood the test of time for decades in our country, and is unparalleled. Regardless of the state of the economy, going to the cinema is a family celebration or social event, and we Indians never compromise on celebrating, and that is what inspires us to welcome them at our properties and serve them better. <br />

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After Backstreet Boys, Westlife set to visit India – 3 shows lined up in November-end

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F1 is the biggest party weekend of the year in Singapore, but it'll easily set you back thousands of dollars. We broke down the prices.

Amanda Goh

How INOX is de-couching Indian cinephiles by making the cinema-going experience grander

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