IHOP Expands To Thailand And India, Applebee's Heads To The Mideast And Panama
DineEquity Inc. said Tuesday that its IHOP and Applebee's brands are expanding internationally. IHOP will open 10 locations in Thailand by 2021 through a franchise agreement with King of Pancakes Co. Ltd., an affiliate of King Food Group Company Limited. And 20 IHOP locations will open across India by 2025 through a franchise agreement with Kwals Catering Private Ltd., a subsidiary of Kwality Group. Applebee's will open six locations in Bahrain and Oman by 2023 through a development agreement with Mohammed Fakhro, a restaurant operator and franchisee. And five new Applebee's locations will open in Panama by 2021 through an agreement with current franchisee Collins Restaurant Group. DineEquity has opened 80 new international restaurants since 2014 with plans to double the company's international presence by 2021. DineEquity shares are unchanged in premarket trading and down 9.6% for the last 12 months. The S&P 500 index is up 18.1% for the past year.
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