IHOP® and TravelCenters of America Announce Plans to Open Nearly 100 Restaurants at Travel Centers in the Next Five Years
GLENDALE, Calif.--(BUSINESS WIRE)--Oct 30, 2019--
Today, IHOP® Restaurants, a subsidiary of Dine Brands Global, Inc. (NYSE: DIN), and TravelCenters of America Inc. (Nasdaq: TA) announced that the two companies have entered into a franchise development agreement and plan to open up to 94 IHOP restaurants over the next five years in TA and Petro branded locations across the United States. Currently, there are four IHOP restaurants already in TA’s travel center network, including one that opened this week in Jackson, Georgia. The agreement, which pairs two of the world’s most recognizable brands in foodservice and interstate travel, fulfills their joint commitment to bring guests quality meal choices and exceptional service while on the go. The IHOP restaurants in the portfolio will be operated by the TA Restaurant Group, a division of TravelCenters of America.
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Guests visiting IHOP restaurants located at TA travel centers will be able to enjoy the brand’s full menu of made-to-order items, such as its world-famous Buttermilk pancakes, oversized omelettes, Ultimate Steakburgers, Crispy Chicken and more.
“We’re thrilled to be partnering with TravelCenters of America to open up to almost 100 new IHOP restaurants over the next five years in TA and Petro travel centers across the U.S.,” said Jay Johns, President of IHOP. “The TA brand, a trusted hospitality leader in the industry and with consumers, shares the same values as IHOP when it comes to delivering an outstanding experience to guests on-the-go. We’re looking forward to serving the great-tasting, freshly made menu items we’re known for at breakfast, lunch and dinner, to the millions of guests who stop at TA and Petro locations each year.”
“When it comes to serving our customers, IHOP and TA’s missions and cultures align,” said Barry Richards, President and Chief Operating Officer of TravelCenters of America. “Adding such a highly regarded brand like IHOP to our restaurant group shows our commitment to bringing the best possible dining options to both professional drivers while they’re away from home and to local families living in the communities we serve. An important part of our restaurant strategy is focusing on growing our partnerships with trusted brands like IHOP that appeal to broader audiences, and today’s agreement will enable us to accelerate that process.”
The deal with TravelCenters of America marks the single largest IHOP development deal in the brand’s 61-year history.
New restaurant development is one of three key strategies in IHOP’s aggressive growth plan, which also includes to-go and lunch/dinner expansion as major areas of focus. Currently there are more than 1,700 IHOP restaurants in the U.S. and another 100+ restaurants globally.
ABOUT INTERNATIONAL HOUSE OF PANCAKES, LLC
For over 61 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, including Ultimate Steakburgers. IHOP restaurants offer guests an affordable, everyday dining experience with warm and friendly service. As of December 31, 2018, there are 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, Inc. (NYSE: DIN).
ABOUT TRAVELCENTERS OF AMERICA INC.
TravelCenters of America Inc. (Nasdaq: TA) is the nation’s largest publicly traded full-service travel center network. Founded in 1972 and headquartered in Westlake, Ohio, its more than 21,000 employees serve customers in over 260 locations in 44 states and Canada, principally under the TA®, Petro Stopping Centers® and TA Express® brands. Offerings include diesel and gasoline fuel, truck maintenance and repair, full-service and quick-service restaurants, car and truck parking and other services and amenities dedicated to providing great experiences for professional drivers and the general motoring public. TravelCenters of America operates nearly 650 full-service and quick-service restaurants and 10 proprietary brands, including Quaker Steak and Lube®, Iron Skillet® and Country Pride®. For more information, visit www.ta-petro.com.
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.
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CONTACT: Stephanie Peterson
IHOP / + 1 859 913-6501
TravelCenters of America
KEYWORD: CALIFORNIA OHIO UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: RETAIL RESTAURANT/BAR OTHER RETAIL OTHER TRAVEL TRAVEL FOOD/BEVERAGE
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PUB: 10/30/2019 09:00 AM/DISC: 10/30/2019 09:00 AM