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Two fashionable fast-casual chains — Applebee’s and IHOP — are teaming as much as launch a joint restaurant idea.
Dine Manufacturers International, which owns each firms, introduced throughout a Q4 2023 earnings call that it is going to be opening co-branded eating institutions with mixed cooking areas and seating preparations.
The brand new twin institutions will reportedly have “discreet” entrances which is able to assist hold each IHOP and Applebee’s areas separated, however open throughout peak hours for every chain to extend seating capability. The corporate didn’t specify when or the place the following areas had been set to open.
For instance, throughout a breakfast rush, when IHOP sees its highest visitors, the Applebee’s designated space of the mixed house will likely be open for seating as effectively.
“At breakfast, when there are extra IHOP clients, clients will be seated within the Applebee’s space and vice versa at dinner,” CEO John Peyton advised Nation’s Restaurant News in an interview.
Peyton stated that the corporate has already launched eight “prototypes” in worldwide markets, together with its most up-to-date twin location opening in January in Leone, Mexico.
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Peyton said Mexico is without doubt one of the firm’s “largest worldwide markets” and famous that each chains individually “delivered one other yr of constructive comp gross sales development” for the guardian firm.
“We’ll proceed to observe the success of this check idea and can think about choices for additional growth within the U.S. in choose areas if and when it is sensible to take action,” Peyton stated.
IHOP purchased Applebee’s in 2007 in a deal that price an estimated $1.9 billion.
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Dine Manufacturers, which consists of IHOP, Applebee’s, and Fuzzy’s Taco Store, had an estimated 3,600 restaurant areas as of March 2023.
The corporate was down slightly below 30% yr over yr as of Thursday afternoon.
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