Dallas — As part of an ongoing domestic resurgence, TGI Fridays has inked a new development agreement with LVP Food Service Concepts, LLC, an entity of LV Petroleum, to open five new restaurants in the Las Vegas market over the next 3 years. The agreement marks Fridays’ second domestic development announcement in 3 months, following its agreement with Bliss Bites to open multiple restaurants in New York.
The agreement continues to advance the momentum of Fridays’ “1-2-3 Strategic Vision,” its comprehensive growth plan charting a path to more than 1,000 units and $2 billion in annual revenue by 2030. The plan to open five new restaurants reflects LVP Food Service Concepts’ confidence in Fridays’ position in an outperforming U.S. casual-dining market and aligns with Fridays’ focus on pairing the brand’s heritage with disciplined, franchisee-led expansion.
“We’re focusing on growing our domestic footprint to continue delivering on our “1-2-3 Strategic Vision”, and a non-negotiable for our partners is having a proven track record in markets where our iconic brand belongs. And what two entities are as synonymous with celebration as TGI Fridays and Las Vegas?!” says Ashley Kirkley, chief operating officer of TGI Fridays. “LVP Food Service Concept’s history of partnering with America’s favorite brands makes them the ideal partner to bring TGI Fridays back to Las Vegas, a market they know better than anyone and we look forward to a long and fruitful relationship.”
The agreement gives LVP Food Service Concepts sole rights to the Las Vegas market, and over the next 3 years the company plans to open restaurants in traditional and non-traditional (hotels and casinos) alike.
“TGI Fridays is an iconic, one-of-a-kind brand with strong differentiators, and it takes real pride in hospitality and creating memorable experiences for guests,” says Jeanette L. Davis, senior vice president, LV Petroleum. “The Las Vegas restaurant landscape needs well-known, accessible brands. We are excited to be working with such an iconic brand and look forward to a successful relationship.”
Founded in 1965 as the world’s first casual bar and grill, TGI Fridays® operates nearly 400 restaurants in almost 40 countries. Franchisees are supported by global hubs in Dallas, Dubai and London, complemented by regional resources in select markets. For more information, visit www.tgifridays.com and www.tgifridays.com/franchise/.
LV Petroleum LLC is a leading developer and operator of travel centers, convenience stores and quick-service restaurants throughout the U.S. Founded in 2014 and headquartered in Las Vegas, LV Petroleum operates over 84 travel center locations, 180 quick-service restaurants and 30 convenience stores. The company also operates over 30 different franchise brands, including Arby’s, Bojangles, Dunkin’ and Starbucks, among others, as well as TravelCenters of America (TA) locations.
SOURCE: TGI Fridays