QUEENSBURY, NY - FAT Brands Inc. (NASDAQ: FAT), the parent company of Hurricane Grill & Wings, has announced the opening of a new location at Six Flags (NYSE:SIX) Great Escape Lodge in Queensbury, New York, set to debut this summer. The move marks the first Hurricane Grill & Wings venue in upstate New York and represents the brand's continued partnership with Six Flags Entertainment Corporation.
The Florida-based wing brand, recognized for its variety of award-winning wings and casual dining atmosphere, is expanding its footprint into non-traditional venues, highlighting FAT Brands' growth strategy. This new establishment will be the third FAT Brands concept to be featured within Six Flags properties, following Fatburger and Johnny Rockets.
Taylor Wiederhorn, Chief Development Officer of FAT Brands, expressed enthusiasm about the partnership with Six Flags, noting the shared commitment to providing a fun and engaging environment for customers. "Our brands have a one-of-a-kind, fun environment, so it is only natural to grow FAT Brands' footprint in theme parks with a like-minded industry leader like Six Flags," said Wiederhorn.
Six Flags Chief Marketing Officer, Edithann Ramey, echoed the sentiment, emphasizing the alignment of Hurricane Grill & Wings with the theme park's mission to offer enjoyable experiences for families and friends.
Hurricane Grill & Wings, which operates almost 50 locations nationwide, is known for its extensive selection of wings, tacos, burgers, and seafood, along with its tropical ambiance. The brand's presence in Six Flags Great Escape Lodge is expected to enhance the dining options available to theme park visitors, aligning with Six Flags' approach to guest entertainment and satisfaction.
The partnership between FAT Brands and Six Flags showcases a strategic approach to brand growth within high-traffic entertainment venues, aiming to reach new audiences and provide additional dining experiences for theme park enthusiasts.
This expansion is part of FAT Brands' larger portfolio, which includes 18 restaurant brands and over 2,300 units globally. The information regarding this new opening is based on a press release statement.
InvestingPro Insights
FAT Brands Inc. is making significant strides in expanding its presence, as evidenced by the new Hurricane Grill & Wings location at Six Flags Great Escape Lodge. Investors watching FAT Brands should consider the following insights derived from InvestingPro data and tips:
The company's market capitalization stands at a modest 121.95 million USD, indicating its relatively smaller size in the market. Despite this, FAT Brands has demonstrated commendable revenue growth, with the last twelve months as of Q4 2023 showing a 17.98% increase, and an even more impressive quarterly revenue growth of 52.81% in Q1 2023. This growth trajectory is a positive sign for the company's expansion efforts and could signal future profitability.
InvestingPro Tips highlight that FAT Brands is paying a significant dividend to shareholders, with a dividend yield reaching 7.7% as of the latest data. This could be attractive to income-focused investors, especially considering the company has raised its dividend for three consecutive years. However, it's worth noting that analysts do not anticipate the company will be profitable this year, and the stock price has been quite volatile, with a 1-year price total return of 42.41%.
For those considering a deeper analysis, there are additional InvestingPro Tips available for FAT Brands, offering insights like the company's debt burden and cash flow considerations. By using the coupon code PRONEWS24, readers can get an extra 10% off a yearly or biyearly Pro and Pro+ subscription, providing access to these valuable tips and more detailed metrics that can inform investment decisions.
As the brand continues to grow within high-traffic entertainment venues, these financial metrics and expert tips from InvestingPro can help investors understand the potential risks and rewards associated with FAT Brands' stock. With the company's strategic moves and the real-time data available, stakeholders can keep a close eye on FAT Brands' performance in the evolving casual dining market.
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