CRG preps 140 new eateries as competition intensifies

Competition in the restaurant industry will remain intense this year as an influx of new brands hit the market, Central Restaurants Group (CRG).

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The company plans to open 120-140 new branches this year.

The restaurant industry in Thailand is valued at 472 million baht this year, a growth of 5%-7% year-on-year, said Nath Vongphanich, president of CRG.

"The restaurant industry will remain a key economic driver in Thailand," he said.

"Entry barriers in the restaurant industry are relatively low, making it easy for new brands to emerge, said Mr Nath.

Many Chinese brands from various industries have entered Thailand, including in the restaurant sector, often offering lower prices due to their economies of scale, he said.