Dive Brief:
- TravelCenters of America (TA) reached its annual target of signing 30 new franchise agreements in 2022 in addition to opening three new franchised sites and acquiring 10 locations last year, according to a recent announcement.
- TA said it’s still focused on franchising as a means for growth, as it aims to open another 20 franchised locations in 2023.
- TA’s network expansion underscores its long-term growth plans, which also prioritize site refreshes, technology upgrades and expanded foodservice and restaurant offerings, the company said during its third-quarter earnings call in November.
Dive Insight:
By detailing the growth of its store network last week, TA is continuing to follow what CEO Jon Pertchik calls its “strategic plan.”
“The success of TA’s franchise and acquisition programs is a critical component of our strategic plan, and over time will add well located facilities to better serve our guests across the country,” Pertchik said in the announcement.
Beyond the franchised locations, the 10 sites TA acquired last year included seven existing travel centers — six of which have truck maintenance facilities — and three standalone truck service locations , according to the announcement.
In November, TA revealed it had reopened about 80% of its full-service restaurants after closing the vast majority of them in 2020 because of the COVID-19 pandemic, and that its “continuous improvement” in foodservice could mean exploring new technologies like self checkout or schedule management tools.
TA’s investment in foodservice also includes adding IHOP locations, as well as introducing a new proprietary restaurant brand, according to the company’s third-quarter earnings call last year. Also in November, the retailer opened a new full-service Black Bear Diner at its travel center in Amarillo, Texas, marking the fifth Black Bear Diner to open adjacent to a TA travel center.
Westlake, Ohio-based TravelCenters of America operates 281 travel centers in 44 states between its TA, Petro Stopping Centers and TA Express brands. The company also operates over 600 full-service and quick-service restaurants and nine proprietary brands, including Iron Skillet and Country Pride.
