ZF English

Petrescu, City Grill: The restaurant market will rebound in 2012 because it is underdeveloped

11.02.2011, 09:35 20

Dragoş Petrescu, the businessman who controls several restaurantbusinesses, will open two BackWerk bakeries, a City Cafe coffeeshop and a Bundetot restaurant - shawarma place, in which he willinvest 650-900,000 euros, according to ZF calculations, based onthe average investment per every type of eating place. This year inSeptember Petrescu will open the second Hanu Berarilor brewpub inBucharest, on Pache Protopopescu Boulevard. He invested 1 millioneuros in the place, an amount that also includes the land where thebrewpub is located.

"2011 is a decisive year for us. The financial crisis has been abig opportunity for this market segment. The main advantages arethat non-competitive players have disappeared from the market andother sectors that stifled the real estate market were cleaned up.New available spaces have appeared as a result," explainsPetrescu.

Following the opening of new restaurants, coffee shops andbrewpubs, Petrescu expects turnover to increase 23% against 2010,when it amounted to around 16 million euros.

Although he admits one cannot talk about an exit from crisisyet, Petrescu expects the first signs of rebound to be seen in thesecond half of the year. Moreover, the restaurant market willreturn to growth in 2012 because it is underdeveloped.

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