IHOP

International House of Pancakes, LLC (branded as IHOP; ) is an American multinational pancake house restaurant chain that specializes in American breakfast foods. It is owned by Dine Brands—a company formed after IHOP's purchase of Applebee's, with 99% of the restaurants run by independent franchisees. While IHOP's focus is on breakfast foods, it also offers a menu of lunch and dinner items. The company has 1,841 locations in the Americas (United States, Canada, Mexico, Panama, Peru, Ecuador and Guatemala), the Middle East (United Arab Emirates, Kuwait, Saudi Arabia and Qatar), South Asia (India and Pakistan), and Southeast Asia (Philippines), including 161 that are owned by area licensees and 1,680 that are franchised. While many of its locations are open 24 hours a day, 7 days a week, the chain's minimum operating hours are 7:00 a.m. to 10:00 p.m.

International House of Pancakes, LLC (branded as IHOP; ) is an American multinational pancake house restaurant chain that specializes in American breakfast foods. It is owned by Dine Brands—a company formed after IHOP's purchase of Applebee's, with 99% of the restaurants run by independent franchisees. ]] While IHOP's focus is on breakfast foods, it also offers a menu of lunch and dinner items. The company has 1,841 locations in the Americas (United States, Canada, Mexico, Panama, Peru, Ecuador and Guatemala), the Middle East (United Arab Emirates, Kuwait, Saudi Arabia and Qatar), South Asia (India and Pakistan), and Southeast Asia (Philippines), including 161 that are owned by area licensees and 1,680 that are franchised. While many of its locations are open 24 hours a day, 7 days a week, the chain's minimum operating hours are 7:00 a.m. to 10:00 p.m.

History

Brothers Jerry and Al Lapin, and commercial artist Albert Kallis co-founded International House of Pancakes in the Los Angeles, California, area in 1958¹ with the help of Sherwood Rosenberg and William Kaye. Kallis and his wife Trudy were early investors and it was said Trudy came up with the name after giving birth to their child. The first restaurant opened on July 7, 1958, at 4301 W. Riverside Drive in Burbank, California. The second and third locations at 8555 Vesper Avenue in Panorama City, California, and 3625 Stocker Avenue in Baldwin Hills, California, (a former Brown Derby restaurant) are still open for business. The first prototype design for IHOP building was a steep-roofed A-frame building with a distinctive blue roof; the last such location to be built was completed in 1979. While most IHOP locations no longer use the A-frame buildings, several still exist around the U.S. , in 1983, with the older look and "International House of Pancakes" signage]]In 1973, the chain's name was shortened to "IHOP" for marketing purposes, using a cartoon kangaroo in its commercials at the time, and since then the full name and acronym have been officially interchangeable. In 1976, International Industries was renamed to IHOP, Inc., and IHOP Corporation was founded as a new holding firm for IHOP, Love's Wood Pit Barbecue, and Original House of Pies (which was sold shortly afterwards). In 1979, it was purchased by Wienerwald Holding, the owners of Wienerwald and Lum's chains. Wienerwald later declared Chapter 11 bankruptcy in 1982, and sold IHOP Corp in 1983 to SVIDO, who hadn't been involved in the restaurant business previously. The breakfast food menu later expanded (especially in the 1980s) to include standard lunch and dinner items found in similar restaurant chains such as Sambo's and Denny's. In 1976, at the same time as reorganization, International Industries became IHOP. In December 2019, IHOP announced plans to launch a chain of fast casual breakfast restaurants called Flip'd.

Acquisition of Applebee's

On July 16, 2007, IHOP Corporation announced a plan to acquire the bar-and-grill chain Applebee's in an all-cash transaction, valued at approximately US$2.1 billion. In the arrangement, Applebee's stock holders would receive $25.50 a share. IHOP stated it would franchise most of Applebee's 500 company-owned facilities. Applebee's had 1,943 restaurants worldwide at the time, including those operated by franchisees. Applebee's shareholders approved the acquisition with a 70% vote. A number of executives from Applebee's voted against the offer. The chain's largest individual shareholder, Applebee's director Burton "Skip" Sack, called the IHOP offer unfair to its shareholders and stated he planned to sue IHOP for a higher price to be paid to him. As part of the purchase, a brand remarketing scheme and revitalization of the Applebee's image was intended. The buyout successfully closed on November 29, 2007, and the corporate entity IHOP changed its name to DineEquity on June 2, 2008.

Lawsuit

In early September 2010, IHOP filed a lawsuit in U.S. District Court in Los Angeles against International House of Prayer and six other defendants, alleging trademark dilution and infringement. The lawsuit was dropped on December 21, 2010, with the dispute resolved out of court.

References

External links

Text derived from https://en.wikipedia.org/w/index.php?oldid=1378359026 under CC BY-SA 4.0; modifications have been made.