"We're not really worried about that. We've been doing breakfast all day for 58 years," he said. "We believe we offer a different occasion and experience for the guest -- 80% of our items are customized by our guests and by the cooks so we have the ability to create a unique item."
McDonald's launched its around-the-clock breakfast lineup back in October as part of a larger effort to revamp the fast-food giant under CEO Steve Easterbrook. "The fact that all of these players are getting into breakfast all day and elevating that awareness we think plays to our benefit," Rebelez added.
IHOP is part of the publicly traded DineEquity (DIN) . Its shares are up 10.3% since the start of the year. For 2015, IHOP's comparable-store sales in the U.S. rose 4.5%. Rebelez attributes the increase to the launch of new products, such as its Criss-Croissant, which is cooked in a waffle iron. IHOP also launched double-dip French toast, which is brioche bread dipped into a vanilla batter and then coated with an oatmeal topping.
"We're continuing to innovate and evolve all the time," Rebelez said.
Amid the rise of niche restaurants targeting the health-conscious consumer, Rebelez said that although IHOP hasn't experimented with gluten-free pancakes, it has a section on the menu with items under 600 calories.
Meanwhile, consumer spending has been soft, despite the steep decline in gas prices over the past 18 months. "Anytime there's softness with the consumer, it's a concern of ours," he said. "We really haven't seen that reflected in our business yet and we think it's because we're offering a unique experience. Breakfast foods tend to be a little bit less expensive than other alternatives."