IHOP® Restaurants to Expand Asia Pacific Presence with Three New Locations in Guam by 2018
Pacific Pancakes LLC to Open First Restaurant in Late 2014; Deal Expected to Add 250 New Jobs to Local Economy
GLENDALE, Calif. & TAMUNING, Guam - (BUSINESS WIRE) - June 3, 2014 - DineEquity, Inc. (NYSE: DIN), parent company of Applebee’s Neighborhood Grill & Bar® and IHOP® Restaurants, today announced that International House of Pancakes LLC has signed an agreement with Pacific Pancakes, LLC, to open three IHOP restaurants on the Island by 2018. The deal is expected to bring 250 new jobs to the Guam economy.
The first location, which will be in Tamuning near GPO, one of Guam’s premier shopping outlets, is scheduled to open before year-end 2014.
Pacific Pancakes, LLC, is an affiliate of Apple Pacific, an entity that has already signed a deal to open two Applebee’s Neighborhood Grill and Bar restaurants in Guam, with the first location scheduled to open this summer. The group is comprised of local investors with diverse business backgrounds spread throughout Guam’s business community.
"We are excited Pacific Pancakes has expanded their relationship with DineEquity and are looking forward to bringing both our brands to new guests in Guam," said Daniel del Olmo, President of International at DineEquity, Inc. "As Apple Pacific, Richard Hart and his group have been tremendous partners with Applebee’s, and they share our commitment to quality and hospitality as we bring both the world famous IHOP and Applebee’s brands to this new region and extend the reach of our global brand."
"We are proud to partner with DineEquity to bring both of their number one brands to Guam," said Hart, President, Pacific Pancakes, LLC. "Like Applebee’s, IHOP is a legendary brand, and we are eager to share both traditional IHOP classics and new items tailored specifically for the region to eager guests."
About DineEquity, Inc.
Based in Glendale, California, DineEquity, Inc., through its subsidiaries, franchises and operates restaurants under the Applebee’s Neighborhood Grill & Bar® and IHOP® brands. With more than 3,600 restaurants combined in 19 countries, over 400 franchisees and approximately 200,000 team members (including franchisee and company-operated restaurant employees), DineEquity is one of the largest full-service restaurant companies in the world. For more information on DineEquity, visit the Company's Web site located at www.dineequity.com.
About International House of Pancakes, LLC
For over 55 years, International House of Pancakes, LLC has been a leader and expert in all things breakfast and a leader in family dining. The chain is highly competitive in its menu offering, serving 65 different signature, made-to-order breakfast options as well as a range of meals under 600 calories. Beyond offering "everything you love about breakfast, ®" IHOP® restaurants have a wide selection of popular lunch and dinner items, as well. IHOP restaurants offer guests an affordable, everyday dining experience with warm and friendly service. As of March 31, 2014, there were 1,627 IHOP restaurants in 50 states and the District of Columbia, as well as in Canada, Guatemala, Mexico, Puerto Rico, the United Arab Emirates, Kuwait, the Kingdom of Saudi Arabia, Bahrain, the Philippines and the U.S. Virgin Islands. Under the licensed name IHOP at HOME® consumers can also enjoy a line of premium breakfast products available at leading retailers. IHOP restaurants are franchised and operated by Glendale, Calif.-based International House of Pancakes, LLC and its affiliates. International House of Pancakes, LLC is a wholly-owned subsidiary of DineEquity, Inc. (NYSE: DIN). For more information or to find an IHOP restaurant near you, please visit www.IHOP.com. Follow IHOP on Facebook and Twitter.
Statements contained in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by words such as "may," "will," "should," "expect," "anticipate," "believe," "estimate," "intend," "plan" and other similar expressions. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results to be materially different from those expressed or implied in such statements. These factors include, but are not limited to: the effect of general economic conditions; the Company's indebtedness; risk of future impairment charges; trading volatility and the price of the Company’s common stock; the Company's results in any given period differing from guidance provided to the public; the highly competitive nature of the restaurant business; the Company's business strategy failing to achieve anticipated results; risks associated with the restaurant industry; risks associated with locations of current and future restaurants; rising costs for food commodities and utilities; shortages or interruptions in the supply or delivery of food; ineffective marketing and guest relationship initiatives and use of social media; changing health or dietary preferences; our engagement in business in foreign markets; harm to our brands' reputation; litigation; third-party claims with respect to intellectual property assets; environmental liability; liability relating to employees; failure to comply with applicable laws and regulations; failure to effectively implement restaurant development plans; our dependence upon our franchisees; concentration of Applebee's franchised restaurants in a limited number of franchisees; credit risk from IHOP franchisees operating under our previous business model; termination or non-renewal of franchise agreements; franchisees breaching their franchise agreements; insolvency proceedings involving franchisees; changes in the number and quality of franchisees; inability of franchisees to fund capital expenditures; heavy dependence on information technology; the occurrence of cyber incidents or a deficiency in our cybersecurity; failure to execute on a business continuity plan; inability to attract and retain talented employees; risks associated with retail brand initiatives; failure of our internal controls; and other factors discussed from time to time in the Company's Annual and Quarterly Reports on Forms 10-K and 10-Q and in the Company's other filings with the Securities and Exchange Commission. The forward-looking statements contained in this release are made as of the date hereof and the Company assumes no obligation to update or supplement any forward-looking statements.
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