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IHOP – A house for delicious breakfast
International House of Pancakes, popular with its acronym IHOP is an American multinational pancake house or fast casual family restaurant chain that specializes in breakfast foods. It is owned by DineEquity. A large part, that is 99% of the restaurants are run by independent franchisees. Even though breakfast it their main focus, they also offer lunch and dinner items in their menu. Their headquarters is situated in Glendale, California. The company has 1,650 locations in Latin America, North America, Southeast Asia,the Middle East and Oceania.
The company is working with the slogan,“Everything you love about Breakfast”. Most its locations are open 24 hours a day and 7 days a week. For locations that aren’t always open, the franchise’s minimum operating hours are Fridays and Saturdays from 7 a.m. to 12 midnight and Sunday through Thursday from 7 a.m. to 10 p.m.
Current Market Value
The company reported a revenue of US$ 349.6 million in 2006. they had an operating income of US$ 72.8 million and a net income of US$ 44.5 million in the same year. In the year 2007, 32,300 employees were working for the company. In the year 2007, IHOP Corporation stated its desire to acquire the bar-and-grill chain Applebee’s International, Inc. in an all-cash transaction, valued at approximately US$ 3.1 billion. As a part of the deal IHOP stated that it would pay $25.50 per share for Applebee’s. It planned to franchise most of the Applebee’s 500 company owned facilities.
Applebee’s had 1,943 restaurants worldwide at the time, including those operated by franchises. Greater than 70% voted in approval of the undertaking of the enterprise. The buyout successfully closed on November 9, 2007 by beating 26 other offers for the purchase. As a part of the purchase, revitalization and a brand marketing scheme of the Applebee’s image was intended. IHOP changed its name to DineEquity on May 28, 2008. This deal has boosted the market value of DineEquity and also became a big landmark in the company’s timeline.
How it originated?
International House of Pancakes was incorporated in 1958 by Al Lapin, Jerry Lapin and Albert Kallis with the help of William Kaye and Sherwood Rosenberg . The first restaurant opened on July 7, 1958, at 4301 Riverside Drive in Toluca Lake, Los Angeles, California. Albert Kallis was a professional artist who designed film posters in the 1950s for American International Pictures. In the 1980s, they expanded their menu from breakfasts and included lunch and dinner items too. Between 1959 to 1975 IHOP was the flagship division of International Industries, a holding company which also owned the Orange Julius refreshment stands. In 1973, the company started to call itself as “IHOP” for marketing purposes.
Since then its full name and the acronym are officially interchangeable. It has increasingly favored the acronym from 1976. IHOP initiated agreements with M.H. Alshaya which is an international restaurant-franchising firm. This resulted in Alshaya opening as many as forty IHOP locations in the Middle East, beginning in 2012. By the end of 2013, IHOP restaurants operated in three Middle East countries: Kuwait, Saudi Arabia, and the United Arab Emirates.
Considering the long-term benefits of cash flow: the potentials for buybacks and acquisitions, IHOP is a great place for your investment plans. The company has bought back 5 million of its own shares since 2003 and is planning to buy 2 million more, at an average rate of $54 per share. It is one of the fastest growing chains with a considerable growth in revenues. Due to promotional events like “Funnel Cake Festival” and “French Toast Fantasy”, the firm saw an increase in the number of customers who visited them. You will surely reap a good profit by investing in the company on a long term.
IHOP Properties For Sale Across the United States :
Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Virgin Islands, Washington, West Virginia, Wisconsin, Wyoming