City Grill Group estimates over EUR 60 mln turnover in 2024
City Grill Restaurant Group, one of the strongest domestic players in the HoReCa industry, ended 2023 with a turnover of EUR 55 mln. For the current year, exceeding the threshold of EUR 60 mln is estimated, supported by the opening of new units, as well as by the performance of existing restaurants that have a loyal and active audience. By completing investment projects worth over 15 million euros, City Grill Group consolidated its position in 2023 as the largest domestic restaurant group in the hospitality market.
In 2023, over 15,000 customers daily crossed the threshold of City Grill Group's restaurants. They seek a complete experience defined by excellent services, culinary diversity, authentic taste, and high-quality ingredients, as well as a unique atmosphere and contemporary design
“The City Grill customer is mature, informed, and demanding, seeking quality and culinary diversity, as well as top-notch services. Our customers have a high recurrence rate, being accustomed to our high standard across all restaurants. Thus, our mission goes beyond serving good food. We emphasize, first and foremost, on the exceptional customer experience, focusing on the trio of menu quality, service quality, and atmosphere, interior design, and location", says Daniel Mischie, CEO of City Grill Group.
The average bill is EUR 50. "Hanu’ Berarilor" is the restaurant with the most loyal audience.
City Grill Group currently operates restaurants and cafes under the brands Caru’ Cu Bere, Hanu’ lui Manuc, Pescarus, Hanu’ Berarilor, Buongiorno.Italian, City Grill, and the La Boheme Hotel. All the restaurants have a loyal and highly active customer base. Among these, in 2023, Hanu’ Berarilor had the highest customer retention rate.
In 2023, the average bill across the group was EUR 50, with the highest average values per bill for the year recorded in restaurants frequented by a higher percentage of tourists, namely Hanu’ lui Manuc (EUR 75), Caru’ cu Bere (EUR 65), and Pescăruș (EUR 55).
Customers' favorite dishes in City Grill Group restaurants include beef soup, chicken broth, pork knuckle, Romanian doughnuts (papanasi), grilled sausages (mici), Neapolitan pizza, duck legs, burgers, cabbage rolls (sarmale), and catch of the day fish.
The launch of lunch menus with a fixed price of RON 34.9 fueled the growth of corporate clients. The gradual return to offices has led to the resumption of lunchtime habits with colleagues, turning it into an opportunity for connection and idea exchange.
"Hanu’ lui Manuc, Hanu’ Berarilor, Pescăruș, and Caru’ cu Bere are in themselves iconic destinations in Bucharest and must-visit places for foreign tourists, Romanians, and expats alike. From historic monument buildings, central locations, ambiance, and design to the carefully prepared menu, we place great importance on the experience of those who step through our doors. We are delighted with the high rate of customer recurrence in all our restaurants. We constantly diversify the menu and make sure to have culinary options for all tastes," emphasizes Daniel Mischie, CEO of City Grill
The exceptional experience, along with attractive offers tailored for high school and college students, have drawn a younger audience to the group's restaurants, where socializing is a primary activity for spending time. As a result, the number of customers in the age group under 25 has increased by almost 40%.
Investments go on in 2024
Beyond the major budgets for the completed investments in 2023 or those planned for 2024, investments in the network's restaurants are ongoing. The constant aim is to continually improve the customer experience and strengthen the position of City Grill Group's restaurants as a preferred destination for classic family or friends' gatherings, as well as for corporate or private events of any size.
In 2023, City Grill completed the most extensive investment process of the group, amounting to 13 million euros for the revitalization and modernization of Hanu’ Berarilor - Oprea Soare restaurant and La Boheme Hotel. Also, in the second half of 2023, City Grill Group concluded an investment of over EUR 2.5 mln in the modernization of the Buongiorno restaurant network, a project initiated in 2019. The three restaurants included in the modernization project were Buongiorno Primăverii, revamped in 2019, with an investment of EUR 700,000, Buongiorno Victoriei in 2021, where the investment amounted to over EUR 1.6 mln, and Buongiorno Baneasa, reopened in August 2023, after an investment of EUR 500,000.
After numerous challenges, particularly caused by the pandemic, 2023 marked the year in which City Grill Group completed two significant investment projects. In the case of Buongiorno.Italian, the investment was redirected towards updating and modernizing the interior design. The design project for the Oprea Soare restaurant, carried out by architect Mihai Popescu, serves as an example of adaptation to the historical architecture of the Grade A historical monument building, which, of course, comes with many limitations. Nevertheless, the preservation of original construction elements by architect Petre Antonescu was successfully achieved, blending them with contemporary design and current interior elements.
“Another significant project that began in 2023 and will be completed in 2024 is at Hanu’ lui Manuc. Here, we have budgeted for an investment in interior redesign, restoring it in harmony with the spirit of the place, as well as addressing the exterior. This year, we maintain our focus on the hotel segment, where we initiated activities in 2022. We continue to allocate substantial resources for development. Our orientation is towards acquisitions of hotels and restaurants, whether new greenfield projects or with some years of history, referred to as brownfield, considering new destinations in the Historic Center, but not limited to it," specifies Daniel Mischie.
Throughout this year, an extensive renovation project has been initiated for the locations in Otopeni Airport, a venture that will span the entire year of 2024. By having City Grill Group restaurants in the Departures Terminal of Henri Coandă Airport, we ensure that tourists visiting the capital have access to the services and culinary delights that captivate them in the city as well.
Beyond investments in development and the customer experience in the restaurants, City Grill Group continues to invest in the team and the people who make day-to-day operations possible. Currently, City Grill Group has a team of over 1000 people. They have access to training courses and development workshops, a career plan, and a safe and balanced working environment. The company's organizational culture supports entrepreneurial expression, initiative, creativity, and innovation, both from a culinary perspective and in terms of customer interactions or marketing.
About City Grill
City Grill Group is the leading player in the Romanian restaurant industry. Founded in 2004, the City Grill Group currently operates restaurants and cafes under the brands Caru’ Cu Bere, Hanu’ lui Manuc, Pescăruș, Hanul Berarilor, Buongiorno.Italian, City Grill, and La Boheme, the first hotel in the portfolio. From the inception of the first restaurant, City Grill Group has been driven by the idea of providing customers with a suitable place to invite a business partner for a meal, creating a necessary relaxation spot during lunch breaks, with family, or with friends.
Through its operated restaurants, City Grill Group caters to the urban customer who enjoys spending leisure time in the city and arranging business or personal meetings over a cup of coffee. The restaurant menus are accessible and diverse, featuring both Romanian and international cuisine.
Whether it's about iconic recipes or any other dish from the menus of City Grill Group restaurants, the ingredients used are the best for customers. The "secret" behind the meals in City Grill Group restaurants lies in fresh ingredients, carefully controlled and tested for origin, without any food additives. From freshly cut and hand-prepared fries to cage-free eggs and vegetables grown in their own greenhouse near Târgoviște, the philosophy that the Group's chefs follow is to extract the natural taste of ingredients, highlighted through combinations and spices such as salt and pepper.
In all City Grill Group restaurants, where they cook daily for almost 15,000 customers, they recycle oil, glass, cardboard, and plastic, and actively reduce food waste through campaigns.
*This is a Press release.