New Agreements Call for IHOP®'s Debut in Thailand and India; Applebee's® to Enter Bahrain,
Oman and Panama as Part of Plan to Double International
Presence by 2021
GLENDALE, California,
Jan. 9, 2017 /PRNewswire/
-- DineEquity, Inc. (NYSE: DIN), one of the world's largest
full service restaurant companies, today announced four new
multi-unit development agreements in the Middle East, Asia
Pacific and Latin America.
These agreements will play an important role in the company's plan
to double international locations over the next five years.
Since the beginning of 2014, 80 new international restaurants
have opened, resulting in the third consecutive year of record
international growth. In addition to 80 new international openings,
during that same timeframe DineEquity nearly tripled the
international development pipeline to over 200 restaurant
commitments. These combined international successes provide the
foundation for DineEquity's ability to double the international
presence of its brands by 2021.
"We continue to see international expansion of our two brands as
an important growth engine for DineEquity, with interest and
enthusiasm coming from both new and existing franchisees," said
Julia Stewart, chairman and CEO,
DineEquity, Inc. "These positive factors make us bullish about the
potential to double our international footprint within five
years."
The IHOP brand expansion continues into the Asia Pacific region by bringing the originator
of all-day breakfast to Thailand
and India. A multi-unit franchise
agreement with King of Pancakes Co., Ltd. calls for 10 locations to
open in Thailand by 2021. King of
Pancakes is an affiliate of King Food Group Company Limited, which
through its affiliates, operates iconic and emerging restaurant
brands throughout Thailand. A multi-unit franchise agreement
with Kwals Catering Private Ltd. – a subsidiary of Kwality Group –
calls for 20 locations to open throughout multiple states of
Northern and Southern India by
2025. Established in 1955, Kwality Group, through its affiliates,
is a leading restaurant operator, caterer and franchisee of five
other leading restaurant brands.
Applebee's will extend its growth in the Middle East through a development agreement
with Mohammed Fakhro that includes
the opening of six locations in Bahrain and Oman by 2023. Fakhro is an experienced
restaurant operator and a franchisee for multiple leading brands;
his organization has expertise in supply chain as the owner of a
leading logistics and distribution company in Bahrain.
Applebee's footprint in Latin
America will also grow under an agreement for five new
locations in Panama. The agreement
with current IHOP franchisee Collins Restaurant Group calls for the
locations to be built by 2021. Collins is an IHOP Restaurants
franchisee with over 100 years of experience in developing and
operating restaurants and hotels throughout Panama.
"In addition to adding new territories based on our strategic
growth plan and our 360-degree brand evolution efforts, we continue
to see strong interest in building new restaurants and remodeling
existing locations from our international franchisees across both
brands," said Daniel del Olmo,
president, international, DineEquity, Inc. "Nearly 80 percent of
our international franchisees are developing new restaurants, which
is an important indicator of engagement as a result of our
collaborative effort to optimally grow our footprint. Substantially
all of our 200-plus restaurant obligations will be developed within
our three primary targeted growth areas: the Middle East, Asia
Pacific and Latin America.
Our desire is to continue to expand with our existing franchisees,
while exploring additional opportunities as appropriate."
In 2014 DineEquity consolidated both international brand teams
into one business unit and created a new strategic plan based on
franchisee feedback and the largest international consumer survey
in the company's history. This research led to a 360-degree brand
evolution, resulting in the implementation of new brand
positioning, marketing, food and beverage choices, plate
presentation, restaurant design and an improved service culture,
all of which have been embraced by franchisees.
DineEquity's global presence, through its IHOP and Applebee's
brands, includes all 50 United States, three U.S. territories and
17 other nations. While the international development pipeline is
substantive, opportunities still exist for franchises with
significant restaurant operations experience, procurement expertise
and the capability to introduce brands to new markets. Individuals
interested in IHOP or Applebee's international franchising
opportunities are encouraged to reach out via email to
International.Franchising@IHOP.com or
International.Franchising@Applebees.com, respectively.
ABOUT DINEEQUITY, INC.
Based in Glendale, California,
DineEquity, Inc. (NYSE: DIN), through its subsidiaries, franchises
and operates restaurants under the Applebee's Neighborhood Grill
& Bar and IHOP brands. With more than 3,700 restaurants
combined in 18 countries and U.S. territories and over 400
franchisees, DineEquity is one of the largest full-service
restaurant companies in the world. For more information on
DineEquity, visit the Company's Web site www.dineequity.com.
Forward-Looking Statements
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: our engagement in business in foreign markets;
our franchisees failure to fulfill their contractual development
obligations; inability of franchisees to fund capital expenditures;
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; 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; 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.
Logo -
http://photos.prnewswire.com/prnh/20150713/235418LOGO
Logo -
http://photos.prnewswire.com/prnh/20150529/219581LOGO
Logo -
http://photos.prnewswire.com/prnh/20151028/281507LOGO