DineEquity, Inc. (NYSE: DIN), parent company of Applebee's Neighborhood Grill & Bar
Restaurants, today announced that IHOP, the iconic brand famous the world over for its pancakes, omelettes and breakfast items as well as delicious lunch and dinner choices, has announced it is expanding into the Asia Pacific region for the first time via a franchise relationship with InterDine Corp. that will result in an IHOP restaurant opening in the Philippines later this month.
Under the terms of the agreement, InterDine Corp. will open a total of 20 IHOP restaurants in the Philippines over the next five years, with the opportunity to open others in Malaysia, Taiwan, Thailand, Singapore and Vietnam. InterDine Corp. is a wholly owned subsidiary of Global Restaurant Concepts, Inc. which has already successfully brought several other popular U.S. restaurant brands to the region.
“Extending the unique IHOP experience into the Asia Pacific region has long been part of our vision,” said Julia Stewart, Chairman and CEO of DineEquity, Inc. “But the key to achieving that goal was finding the right franchisee who had the necessary experience in the area and who shared the same commitment to excellence and putting our guests first that IHOP’s reputation has been built on. With InterDine Corp., and their parent company Global Restaurant Concepts, Inc., we have found the perfect fit to bring our restaurants to this new region and extend our global brand.”
“We are absolutely thrilled about bringing IHOP to the Philippines and South East Asia,” said Archie Rodriguez, CEO and President, Global Restaurant Concepts, Inc. “IHOP is an iconic brand, and it truly echoes wonderful memories for people who have experienced dining there before. We are eager to share the same experience with families and diners in the region. We are excited to spread happiness!”