RBI’s 2025 growth and Burger King’s remodel plan

Burger King parent Restaurant Brands International reported 5.3% system-wide sales growth for 2025 and 5.8% for the fourth quarter in its February 12, 2026 earnings release. Both measures exclude currency-translation effects.

Fourth-quarter U.S. comparable sales rose 2.6% at Burger King and fell 4.9% at Popeyes. Popeyes’ U.S.-Canada segment reported $6.076 billion in full-year restaurant system sales and $800 million in RBI segment revenue. System sales include franchisees’ sales, which RBI does not book as its revenue.

Excluding currency effects and its Restaurant Holdings segment, RBI’s adjusted operating income grew 8.3% for 2025 and 15.6% in Q4. By December 31, 2025, Burger King had funded $176 million of up to $550 million planned for Royal Reset, which covers remodels, equipment and technology.

How the remodel program works#

Burger King expanded its U.S. Royal Reset program in April 2024, adding $300 million to the original $250 million commitment. The company described the expansion as a co-investment program offering cash incentives to top-performing, committed franchisees for remodels and rebuilds.

Participating operators could receive more funding by agreeing to pay a higher royalty rate.

Royal Reset 2.0 targeted approximately 1,100 additional non-Carrols remodels through 2028. Its projects were to use Burger King’s Sizzle design, with an emphasis on digital service, pickup and the drive-thru experience.

Advertising and capital plans#

At its February 26, 2026 Investor Day, RBI said Burger King U.S. franchisees had voted to continue contributing 4.5% of sales to the advertising fund through at least 2027, with 97% supporting the extension. Continuing that rate in 2028 depended on reaching $230,000 in franchisee profitability by the end of 2027 or another franchisee vote to extend it.

RBI also forecast approximately $400 million in annual capital expenditures, tenant inducements and incentives for 2026 and 2027, declining to about $300 million annually from 2028. That outlook accompanied plans to refranchise most Burger King U.S. company restaurants, find long-term partners for Popeyes China and Firehouse Brazil, and largely complete Reclaim the Flame.