GEN Korean BBQ Opens New Location in Maui, Hawaii
GEN Restaurant Group (Nasdaq: GENK) has opened a new GEN Korean BBQ location in Maui, Hawaii. This marks the company's fourth restaurant in Hawaii and expands its national footprint to 41 total locations. The new Maui restaurant is part of GEN's strategic expansion goals, capitalizing on Hawaii's popularity among global travelers and locals seeking value-oriented dining options.
GEN's existing Hawaii locations generate approximately $6 million - $8 million each in annual revenue. The company aims to open 10-11 new locations across the country by year-end and reach 75-80 total locations by the end of 2026. GEN is also planning further expansion in Hawaii, with the Big Island as its next target.
The new Maui restaurant is located in the Puunene Shopping Center and is open daily from 10 a.m. to 10 p.m.
Il GEN Restaurant Group (Nasdaq: GENK) ha aperto una nuova sede di GEN Korean BBQ a Maui, Hawaii. Questo segna il quarto ristorante dell'azienda nelle Hawaii e amplia la sua presenza nazionale a 41 sedi in totale. Il nuovo ristorante di Maui fa parte degli obiettivi di espansione strategica di GEN, sfruttando la popolarità delle Hawaii tra i viaggiatori globali e i locali in cerca di opzioni di ristorazione convenienti.
Le sedi esistenti di GEN nelle Hawaii generano circa 6-8 milioni di dollari di fatturato annuale ciascuna. L'azienda mira ad aprire 10-11 nuove sedi in tutto il paese entro la fine dell'anno e raggiungere 75-80 sedi totali entro la fine del 2026. GEN sta anche pianificando ulteriori espansioni nelle Hawaii, con l'isola Grande come prossimo obiettivo.
Il nuovo ristorante di Maui si trova nel Puunene Shopping Center ed è aperto tutti i giorni dalle 10:00 alle 22:00.
El GEN Restaurant Group (Nasdaq: GENK) ha inaugurado una nueva ubicación de GEN Korean BBQ en Maui, Hawaii. Esto marca el cuarto restaurante de la compañía en Hawaii y expande su presencia nacional a 41 ubicaciones en total. El nuevo restaurante en Maui es parte de los objetivos estratégicos de expansión de GEN, capitalizando la popularidad de Hawaii entre los viajeros globales y los locales que buscan opciones de comida con buena relación calidad-precio.
Las ubicaciones existentes de GEN en Hawaii generan aproximadamente 6-8 millones de dólares en ingresos anuales cada una. La compañía tiene como objetivo abrir 10-11 nuevas ubicaciones en todo el país para fin de año y alcanzar 75-80 ubicaciones totales para finales de 2026. GEN también planea una mayor expansión en Hawaii, teniendo a la Isla Grande como su próximo objetivo.
El nuevo restaurante de Maui está ubicado en el Puunene Shopping Center y está abierto todos los días de 10 a.m. a 10 p.m.
GEN 레스토랑 그룹(Nasdaq: GENK)이 하와이 마우이에 새로운 GEN 코리안 BBQ 지점을 열었습니다. 이는 회사의 하와이 내 네 번째 레스토랑으로, 총 41개 지점으로 전국적인 입지를 확장합니다. 새 마우이 레스토랑은 하와이가 세계 여행객과 가치 지향적인 식사를 원하는 현지인들 사이에서 인기를 끌고 있는 점을 활용하는 GEN의 전략적 확장 목표의 일환입니다.
GEN의 기존 하와이 지점들은 각각 연간 약 600만 달러에서 800만 달러의 수익을 창출합니다. 회사는 연말까지 전국에 10-11개 새로운 지점을 열 계획이며 2026년 말까지 총 75-80개 지점에 도달하는 것을 목표로 합니다. GEN은 하와이에서의 추가 확장도 계획 중이며, 이 목표는 빅 아일랜드입니다.
새로운 마우이 레스토랑은 Puunene 쇼핑센터에 위치하며 매일 오전 10시부터 오후 10시까지 운영됩니다.
Le GEN Restaurant Group (Nasdaq: GENK) a ouvert un nouveau restaurant GEN Korean BBQ à Maui, Hawaï. Cela marque le quatrième restaurant de l'entreprise à Hawaï et étend sa présence nationale à 41 emplacements au total. Le nouveau restaurant de Maui fait partie des objectifs d'expansion stratégique de GEN, tirant parti de la popularité d'Hawaï auprès des voyageurs du monde entier et des habitants à la recherche d'options de restauration à bon rapport qualité-prix.
Les établissements existants de GEN à Hawaï génèrent environ 6 à 8 millions de dollars de revenus annuels chacun. L'entreprise vise à ouvrir 10 à 11 nouveaux emplacements à travers le pays d'ici la fin de l'année et à atteindre 75 à 80 emplacements au total d'ici la fin de 2026. GEN prévoit également une expansion supplémentaire à Hawaï, avec l'île de Big Island comme prochain objectif.
Le nouveau restaurant de Maui est situé dans le Puunene Shopping Center et est ouvert tous les jours de 10h à 22h.
Die GEN Restaurant Group (Nasdaq: GENK) hat eine neue GEN Korean BBQ-Filiale in Maui, Hawaii eröffnet. Dies ist das vierte Restaurant des Unternehmens in Hawaii und erweitert die nationale Präsenz auf 41 Standorte insgesamt. Das neue Restaurant in Maui ist Teil von GENs strategischen Expansionszielen und nutzt die Beliebtheit von Hawaii bei internationalen Reisenden und Einheimischen, die nach preisgünstigen Essensmöglichkeiten suchen.
Die bestehenden Standorte von GEN in Hawaii generieren jeweils etwa 6-8 Millionen Dollar Jahresumsatz. Das Unternehmen plant, bis zum Ende des Jahres 10-11 neue Standorte im ganzen Land zu eröffnen und bis Ende 2026 insgesamt 75-80 Standorte zu erreichen. GEN plant außerdem eine weitere Expansion in Hawaii, wobei die Big Island das nächste Ziel ist.
Das neue Restaurant in Maui befindet sich im Puunene Shopping Center und ist täglich von 10 Uhr bis 22 Uhr geöffnet.
- Opened fourth restaurant in Hawaii, expanding national footprint to 41 locations
- Existing Hawaii locations generate $6-8 million each in annual revenue
- On track to open 10-11 new locations by year-end
- Long-term goal of 75-80 total locations by end of 2026
- Planning further expansion in Hawaii, targeting the Big Island next
- None.
Insights
The opening of GEN Korean BBQ's new location in Maui marks a significant expansion for the company, bringing its total restaurant count to 41. This move aligns with their ambitious growth strategy, aiming for 75-80 locations by 2026. The Hawaii market has proven lucrative, with existing locations generating
This expansion demonstrates GEN's ability to capitalize on high-traffic tourist destinations while offering value in an inflationary environment. The company's "cook-it-yourself" model and protein-focused menu cater to both locals and tourists seeking affordable dining options.
Investors should note the company's consistent execution of its growth plan, with 10-11 new locations expected by year-end. This rapid expansion could lead to increased market share and revenue growth, potentially positively impacting the stock price. However, it's important to monitor execution risks and the impact on profitability as the company scales.
GEN Korean BBQ's expansion into Maui is a strategic move that capitalizes on Hawaii's robust tourism industry and local demand for value-oriented dining. The company's success in Hawaii, with locations generating
The timing is opportune, as rising inflation and import costs have created a market gap for affordable, high-quality dining experiences. GEN's value-focused approach and interactive dining concept are well-positioned to meet this demand.
The company's expansion strategy, targeting 75-80 locations by 2026, shows aggressive growth plans. This could lead to increased brand recognition and economies of scale, potentially improving profitability. However, rapid expansion also carries risks, including market saturation and operational challenges.
Investors should watch for same-store sales growth and profitability metrics as indicators of sustainable expansion.
The Opening Marks GEN’s Fourth Restaurant in Hawaii and Expands Company’s National Footprint to 41 Total Locations
CERRITOS, Calif., Sept. 26, 2024 (GLOBE NEWSWIRE) -- GEN Restaurant Group, Inc. (“GEN” or the “Company”) (Nasdaq: GENK), owner of GEN Korean BBQ, a fast-growing casual dining concept with an extensive menu and signature “grill at your table” experience, today announced the grand opening of its newest restaurant in Maui, Hawaii. The opening of the new Maui location underscores the Company’s strategic expansion goals and ongoing success in the region.
Known for stunning beaches, unique and spirited culture and fresh dining, the Hawaiian Islands attract an influx of global travelers on an annual basis. However, due to rising national inflation and import costs, travelers and locals are often seeking dining offerings that are centered on value. From inception, value has been at GEN’s core and now with a total of four locations in Hawaii, including the newest in Maui, Hawaii, GEN Korean BBQ remains a go-to casual, table-service concept where diners can expect flavor and fun all at a competitive price point.
“As a result of demonstrated customer demand and the strong performance of our existing Hawaii locations, which generate approximately
Illustrated by today’s opening in Hawaii, the Company continues to confidently track toward its goal of opening a total of 10-11 new GEN Korean BBQ locations across the country by year’s end. The Company’s long-term objective is to have a total of 75-80 locations by the end of 2026. GEN also anticipates further expansion in Hawaii, with its next target being the Big Island.
GEN Korean BBQ in Maui, Hawaii is in the Puunene Shopping Center at 80 Ho’okele Street Suite 430 Kahului, HI 96732. The restaurant is open daily from 10 a.m. to 10 p.m.
To find a GEN Korean BBQ near you, visit: www.genkoreanbbq.com/locations.
About GEN Restaurant Group, Inc.
GEN Korean BBQ is one of the largest Asian casual dining restaurant concepts in the United States. Founded in 2011 by two Korean immigrants in Los Angeles, the brand has now grown to 40 company-owned locations where guests serve as their own chefs, preparing meals on embedded grills in the center of each table. The extensive menu consists of traditional Korean and Korean-American food, including high-quality meats, poultry, seafood and mixed vegetables. With its unique culinary experience alongside its modern décor and lively atmosphere, GEN Korean BBQ delivers an engaging and interactive dining experience that appeals to a vast segment of the population. For more information, visit GenKoreanBBQ.com and follow the brand on Facebook and Instagram.
Forward-Looking Statements
This press release contains forward-looking statements. Forward-looking statements may be identified by the use of words such as “believe,” “intend,” “expect”, “will,” “may”, and other similar words or expressions that predict or indicate future events. All statements that are not statements of historical fact are forward-looking statements, including any statements regarding our strategy, future operations, and growth prospects, any statements regarding future economic conditions or performance, any statements of belief or expectation, and any statements of assumptions underlying any of the foregoing or other future events. Forward-looking statements are based on current information available at the time the statements are made and on management’s reasonable belief or expectations with respect to future events, and are subject to risks and uncertainties, many of which are beyond the Company’s control, that could cause actual performance or results to differ materially from the belief or expectations expressed in or suggested by the forward-looking statements. Additional factors or events that could cause actual results to differ may also emerge from time to time, and it is not possible for the Company to predict all of them. Forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to update any forward-looking statement to reflect future events, developments or otherwise, except as may be required by applicable law. Investors are referred to the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, and in our subsequent filings with the Securities and Exchange Commission (“SEC”), which are available on the SEC’s website at www.sec.gov, for additional information regarding the risks and uncertainties that may cause actual results to differ materially from those expressed in any forward-looking statement.
Investor Relations Contact:
Cody Slach and Cody Cree
Gateway Group, Inc.
1-949-574-3860
GENK@gateway-grp.com
Media Relations Contact:
Zach Kadletz and Anna Rutter
Gateway Group, Inc.
1-949-574-3860
GENK@gateway-grp.com
FAQ
How many GEN Korean BBQ locations are now open after the Maui, Hawaii opening?
What is the annual revenue range for existing GEN Korean BBQ locations in Hawaii?
How many new GEN Korean BBQ locations (GENK) are planned to open by the end of the year?
What is GEN Restaurant Group's (GENK) long-term expansion goal for total locations by 2026?
