Fiesta budgets $1m for catering equipment to serve new restaurant sites

Fiesta Restaurant Group, parent company of the Pollo Tropical and Taco Cabana restaurant brands, intends to plough $1m into new foodservice equipment over the next year.

The equipment will be used in three new Pollo Tropical restaurants in South Florida and three new Taco Cabana restaurants in Texas, according to details of its budget plans contained in its latest financial report.

The company also said that its total capital expenditures in 2019 are expected to be $45m- $55m, including $11m-$13m to develop new restaurants, $9m-$11m to implement IT and other systems projects.

Fiesta stated that its ongoing reinvestment into the restaurants is expected to include $16m-$18m for restaurant remodeling, equipment to support new menu platforms and other facility enhancements.

Richard Stockinger, president and CEO at Fiesta, said: “We ended 2018 with a flurry of activity, relaunching Pollo Tropical Catering with dedicated resources, piloting third-party delivery in South Florida, rolling out the ‘My Pollo’ and ‘My TC’ loyalty programs, and most importantly, completing the components of the strategic renewal plan, including our comprehensive portfolio review, that we began in 2017.

“Through these actions, we believe that we have achieved higher quality restaurant operations and a healthier and more profitable restaurant portfolio.”