Earlier this month, Goods and Services Tax (GST) rates on restaurants had been reduced to 5 percent from 18 percent. However, Westlife Development is in focus essentially because McDonalds has hiked base prices to keep the overall prices same. CNBC-TV18 spoke to Amit Jatia, Vice-Chairman of Westlife Development to know more.
The National Company Law Tribunal (NCLT) has reinstated Vikram Bakshi as the Managing Director of Connaught Plaza Restaurants (CPRL) - an equal joint venture between Bakshi and McDonald's that operates the fast food chain in north and east India.
In an interview to CNBC-TV18, Amit Jatia, VC of Westlife Development talked about what goods and services tax (GST) mean for the burgers (McDonald's).
Over the next 2-3 years, the breakfast will be the key driver of growth for Mc Donald’s, said Amit Jatia of Westlife Development.
Speaking to CNBC-TV18, Amit Jatia, Vice Chairman of Westlife Development, the fast food chain's master franchisee, said prices would increase 3-5 percent this year but would remain affordable.
Speaking to CNBC-TV18 Amit Jatia of Westlife Development, owners of McDonald‘s, said that same-store sales for McDonald‘s is positive in the quarter gone by.
In an interview with CNBC-TV18, Amit Jatia said that 24x7 stores have worked well for McDonald‘s globally and the same can be expected in India after the implementation of the Model Shop Act.
Anjan Chatterjee, founder and MD of Speciality Restaurants says the fourth quarter so far is panning out to be flattish since discretionary spends are not very encouraging
The company‘s has committed massive capex plans which will be funded via cash, debt and internal accruals, said Amit Jatia, Vice Chairman, Westlife Development.