DineEquity, Inc. (NYSE: DIN), parent company of Applebee's Neighborhood
Grill & Bar® and IHOP® Restaurants, today
announced the opening of the first IHOP restaurant in Bahrain on March
17, 2014. The restaurant, located in Bahrain City Centre, represents the
sixth restaurant opening for the iconic IHOP brand in the region since
2012 under the multi-franchise agreement with M.H. Alshaya Co.
(“Alshaya”), a leading international franchise operator. This agreement
allows for the development of 40 restaurants across the Middle East and
North Africa region. Locations have already been open and operating
successfully in Dubai, Kuwait and the Kingdom of Saudi Arabia, with
future locations expected to include Lebanon, Qatar, Oman and Egypt.
The new restaurant features IHOP Restaurants’ world famous menu of
pancakes, waffles, omelets and breakfast favorites, as well as a full
complement of delicious lunch and dinner items. It will be open Saturday
through Wednesday from 8 a.m. to 11 p.m. and on Thursday and Friday from
8 a.m. to midnight.
“It has been very exciting to see our brand continue to build and expand
its presence in the Middle East and to be able to bring our famous great
service and food to a steadily growing list of countries in the region,”
said Julia Stewart, Chairman and Chief Executive Officer of DineEquity
Inc., and Interim President, International House of Pancakes, LLC. “We
have been extremely gratified by the response our restaurants have been
receiving in this market. Alshaya has been instrumental in that success,
bringing their unparalleled expertise and high standards of excellence
to every IHOP location they open.”
Mohammed Alshaya, Executive Chairman, M.H. Alshaya Co., commented: “The
opening of this new IHOP location in Bahrain demonstrates our commitment
to introducing internationally-recognized brands to customers in
additional markets across the Middle East. It has been gratifying to see
how warmly guests throughout the region have taken to the unique
offerings IHOP restaurants provide and we look forward to providing
guests in new locations throughout the Middle East region with the
opportunity to enjoy the IHOP experience.”
“IHOP restaurants are famous for their unique, delicious offerings that
have delighted guests for over 55 years—so it is only fitting that
guests the world over have the opportunity to enjoy that experience in
their own countries and neighborhoods,” said Daniel Del Olmo, President,
International, DineEquity, Inc. “Alshaya has done a tremendous job in
making this reality in this key growth region, and we could not be
happier with the tremendous job they have done in maintaining a level of
excellence in every restaurant they have opened while continuing to
expand. We look forward to welcoming more locations under our agreement
with Alshaya.”
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 December 31, 2013, there were 1,620 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, 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.
About M.H. Alshaya Co.
M.H. Alshaya Co. is a leading international franchise operator for over
70 of the world’s most recognised retail brands including Starbucks,
H&M, Mothercare, Debenhams, American Eagle Outfitters, P.F. Chang’s, The
Cheesecake Factory, Victoria’s Secret, Boots, Pottery Barn and KidZania.
The company operates over 2,600 stores across diverse customer sectors:
Fashion & Footwear, Health & Beauty, Food, Optics, Pharmacy, Home
Furnishings and Leisure & Entertainment.
Alshaya’s stores can be found in markets across the Middle East and
North Africa, Russia, Turkey and Europe and the company employs more
than 40,000 people from over 110 nationalities.
The company has established itself as the industry leader across these
territories through a combination of local market understanding and a
comprehensive commitment to customer service. Growth in each of its
operating divisions and brands is supported by continuous investment in
talent and infrastructure. It applies best practices in retail
operations, merchandising, marketing, information technology, logistics,
real estate, human resources and financial controls.
M.H. Alshaya Co. is the retail business of the Alshaya Group, which was
founded in Kuwait in 1890 and today represents one of the most dynamic
companies in the Middle East. In addition to its retail operations, the
Alshaya Group is active in a number of other sectors including real
estate, automotive, hotels, trading and investments. Learn more about
the company at www.alshaya.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: 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.
Copyright Business Wire 2014