SLRT, the operator of Sizzler steakhouse in Thailand, wants to open more branches in Thailand and regional markets.
"There's still room for growth in Thailand's steakhouse market, but Bangkok is becoming saturated," said Anirute David Collins, general manager of SLRT Co.
SLRT is interested in adding branches to second-tier cities as it already expanded to all of the major Thai cities, Mr Anirute said.
"This year the company aims to open two more branches in Thailand, one in Bangkok and one in another province," he said.
Mr Anirute did not disclose the other province targeted for a new branch, but noted Krabi has high potential as Central Pattana Plc, the retail and property developer, plans to open a new mall there in 2025.
Sizzler has 64 branches nationwide, with more than half located in Bangkok.
The capital accounts for 60% of the company's total sales.
In the first quarter of 2024, Sizzler partnered with Goldsun Group to open the first branch in Ho Chi Minh City, Vietnam, under the franchise business model.
"The steak and salad bar market in Vietnam has potential for future growth, and sales are doing well following the opening of the first branch," he said.
The company plans to expand to other countries in the region in the future, said Mr Anirute.
SLRT is operating in three countries, with 64 branches in Thailand, 10 outlets in Japan and one in Vietnam.
In addition, the company plans to promote its loyalty programme by offering benefits such as discounts.
The loyalty scheme had more than 500,000 members at the end of 2023, double the total in 2022, he said.
Loyalty members account for 25% of total sales, said Mr Anirute.
The restaurant also introduced menu items tailored to different customer segments, with a minimum price of around 300 baht per dish, which received positive feedback from the market, he said.
The company predicts the steakhouse market will worth 9 billion baht this year and aims to hold 30% market share.