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FAST CASUAL | Staff Reporter, China
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Haidilao to open more than 400 new restaurants in 2020

Most of the new restaurants will be opened in China.

China’s biggest hotpot chain Haidilao will open more than 400 new restaurants in 2020, more than a hundred more than initially planned.

Citing a recent interview by chief strategy officer Zhou Zhaocheng, Reuters first reported that most of the new restaurants will be opened in mainland China, and less than 10% overseas.

The company had initially planned to open around 300 restaurants in 2020, compared to 308 new openings in 2019.

The hot pot business reported a loss of 965 million yuan (US$147 million) for the first half, down 205.7% from a year earlier.

Haidilao has also opened new stores this year in Britain, Canada, the United States, Southeast Asia and South Korea as part of its expansion drive.

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