Franchisees with DineEquity, the parent company of Applebee's and IHOP, operate 10 restaurants in the United Arab Emirates and will open 16 more over the next five years. The focus will be on creating a smaller footprint as competition for space continues to grow.
The parent of Applebee's and IHOP opened 25 international restaurants last year and expects to open a higher number in 2015, as part of a five-year plan for global expansion, said DineEquity's international president, Daniel Del Olmo. DineEquity entered markets including Guam, Indonesia and Singapore, and ended the year with 225 restaurants outside the U.S.
Applebee's and IHOP parent DineEquity reported higher-than-forecast third-quarter profits on lower costs as a result of selling more of its company-owned restaurants to franchisees. IHOP also booked its biggest same-store sales increase in five years as changes to the menu steered customers to spend more on appetizers and higher-priced entrees, resulting in higher average checks that offset traffic declines, the company said.
IHOP and Applebee's parent DineEquity reported better-than-expected first-quarter profits, largely due to the sale of nearly all corporate Applebee's restaurants to franchisees during the past year. The restaurant chain is now a 99% franchise model.
Cheesecake Factory operates 170 restaurants with menus that boast about 300 different dishes made with ingredients from a large number of suppliers, making it tough to track all the data. The chain has added new software from IBM designed to help each location track issues with specific products.