McDonald’s Earmarks US$1.9 MLN for More Outlets in Cebu

Asia News Yahoo:

McDonald’s Philippines has earmarked P100 million (US$1.9 million) for the establishment of more stores in this city.

Kenneth Yang, managing director of Golden Arches Development Corp. (GADC), which operates the McDonald’s fast-food chain in the country, said Cebu’s economy is getting very vibrant because of its growing tourism industry.

“We’re planning to put up more outlets here in Cebu to complement the city’s fast economic growth,” Yang said.

McDonald’s officially launched last Friday night its eighth store in Cebu located at the Fuente Osmena.

Yang said the fastfood chain aims to capture a bigger chunk of the Cebu market.

“Our Cebu market has been performing very well in terms of sales, which is continuing to grow,” he said.