> I wonder how that works in Europe for inner city locations I don't have any specific insight into the EU, but in the other global markets I'm familiar with (

> I wonder how that works in Europe for inner city locations I don't have any specific insight into the EU, but in the other global markets I'm familiar with (mostly China, Hong Kong, Singapore, and Japan) locations are either owned by McDonald's directly or franchised by large corporations that have significant bargaining power with (and sometimes are) landlords. The China/HK franchise, for example, is operated by CITIC (a Chinese SOE) and Carlyle.