IHOP Partners with Pacific Pancakes LLC to Expand Franchise in Guam
Part of being a successful multinational franchise means identifying and exploring growth potential in emerging markets. DineEquity Inc, parent company of International House of Pancakes (IHOP) and Applebee’s Neighborhood Grill and Bar, is doing just that with its newest endeavor. With a new freshly inked partnership deal between International House of Pancakes LLC and Apple Pacific affiliate Pacific Pancakes LLC, IHOP will soon be opening three new locations in Guam.
According to sources, this new deal will result in three IHOP locations built and operating in Guam by the year 2018, a position that will increase revenue for DineEquity Inc. while generating as many as 250 jobs in Guam. The first of the three is slated for opening by the end of 2014 and will be positioned in Tamuning on Guam’s western coast, near shopping hot spot GPO.
One good thing about the deal for DineEquity Inc. is that the parent company does not have to wonder about how they will work together – Pacific Pancakes also recently signed on to bring two Applebee’s locations to Guam. In an announcement regarding the new franchising deal, DineEquity expressed their confidence and excitement in the partnership:
"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," says 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."
Pacific Pancakes, meanwhile, also expressed its excitement about introducing the franchise to a new market:
"We are proud to partner with DineEquity to bring both of their number one brands to Guam," says 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."
IHOP is relatively new to franchising overseas – while it made a large push to expand in the Middle East in 2012 and 2013, right now the brand’s only presence in the Asia Pacific market is in the Philippines. With this move, it’s clear that IHOP is ready to grow even more.
[SOURCES: http://www.fsrmagazine.com/growth/ihop-inks-development-deal-guam; http://www.marketwatch.com/story/ihoprestaurants-to-expand-asia-pacific-presence-with-three-new-locations-in-guam-by-2018-2014-06-03?reflink=MW_news_stmp]
