New Agreement Calls for 15 Locations in the Greater Toronto Area Over the Next 7 Years
Glendale, CA (Restaurant News Release) Dine Brands International announces an agreement with Minhas Holdings to bring the IHOP brand to exclusive locations in the Greater Toronto Area. The agreement calls for 15 new IHOP locations over seven years. The first location is expected to open mid-year 2020.
The new locations are expected to create approximately 900 jobs and contribute up to $15 million to the construction industry in the Greater Toronto Area.
“IHOP is a strong brand with a huge fan base around the world, and we are excited to expand its presence in Canada,” said Saeed Minhas, CEO of Minhas Holdings. “We can’t wait for guests in the Greater Toronto Area to experience the brand’s warm hospitality and commitment to quality in its breakfast, lunch, and dinner menu offerings.”
“Canada was the first international market we opened for IHOP back in 1969, making this year our 50th anniversary in the country,” said Steve Joyce, Chief Executive Officer, Dine Brands Global. “Canada continues to be a key market in our international development and growth strategy.”
“The opportunity to partner with Saeed Minhas as a franchisee was also a major factor in our decision,” Joyce continued. “In addition to his work as a real-estate developer, Saeed has valuable experience in the hospitality industry as a franchisee for Marriott and IHG as well as local market knowledge and presence.”
“Canada is a great strategic business choice for expansion outside of the U.S. for many reasons including geographic proximity and great brand awareness,” said William Urrego, Vice President of International Operations, Dine Brands Global. “We are interested in further expanding our presence in Canada and we are looking for great partners to take that step with us.”
Earlier this year, Dine Brands also announced a five-restaurant agreement in the Atlantic provinces with the first IHOP location expected to open in Moncton in December of this year.
About Dine Brands Global, Inc.
Based in Glendale, California, Dine Brands Global, Inc. (NYSE: DIN), through its subsidiaries, franchises restaurants under both the Applebee’s Neighborhood Grill + Bar and IHOP brands. With approximately 3,650 restaurants combined in 18 countries and approximately 370 franchisees, Dine Brands is one of the largest full-service restaurant companies in the world. For more information on Dine Brands, visit the Company’s website located at www.dinebrands.com.
About International House of Pancakes, LLC
For 60 years, IHOP has been a leader, innovator and expert in all things breakfast, any time of day. The chain offers 65 different signature, fresh, made-to-order breakfast options, a wide selection of popular lunch and dinner items as well as meals under 600 calories. IHOP restaurants offer guests an affordable, everyday dining experience with warm and friendly service. As of December 31, 2018, there were 1,831 IHOP restaurants around the world, including restaurants in all 50 states and the District of Columbia, Puerto Rico and Guam as well as Canada, Mexico, Guatemala, Panama, Lebanon, the Kingdom of Saudi Arabia, Kuwait, the United Arab Emirates, Bahrain, Qatar, Thailand and India. IHOP restaurants are franchised by affiliates of Glendale, Calif.-based Dine Brands Global. (NYSE: DIN).
Statements contained in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. 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. You can identify these forward-looking statements by words such as “may,” “will,” “should,” “could,” “expect,” “anticipate,” “believe,” “estimate,” “intend,” “plan,” “goal” and other similar expressions. You should consider our forward-looking statements in light of the risks discussed under the heading “Risk Factors,” as well as our consolidated financial statements, related notes, and the other financial information appearing elsewhere in our most recent Form 10-K filed with the United States Securities and Exchange Commission and our other filings with the United States Securities and Exchange Commission. The forward-looking statements contained in this report are made as of the date hereof and the Company assumes no obligation to update or supplement any forward-looking statements.
Dine Brands Global, Inc.