US hamburger chain McDonald’s plans to invest €80m (US$102.1m) to open 50 restaurants and remodel 60 in Spain by 2007.

The company ended 2004 with 346 restaurants in Spain, up from 334 the prior year. It invested €24m to open 12 new establishments and refurbish another 12, Spanish newswire Europapress reported.

McDonald’s Spain president Philippe Walch said new-restaurant sales rose an average of 5% last year, beating expectations. The company has opened “very profitable” restaurants that have “notably” increased its Spanish market presence, the newswire quoted Walch as saying.

McDonald’s Spain sales rose 4.5% to €579m in 2003.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.