IHOP Inks Expansion Deals

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IHOP Corp. said Monday that it has ramped up its expansion efforts by securing franchise agreements that could open nearly 500 new restaurants over the next 13 years.


The agreements are for development of new IHOP restaurants in Georgia, Virginia, Washington, Canada, Mexico and the U.S. Virgin Islands, the Glendale-based restaurant owner and operator said in a statement.


IHOP signed agreements from franchisees to develop a total of 388 new IHOP restaurants in the U.S., Mexico and Canada, with options extending until 2019. Other options could provide additional franchise development for 110 more, the company said.


IHOP is revamping its look and menu and the efforts seem to be paying off, the company’s stock has gained nearly $6 a share since early August.


Shares in IHOP were up 34 cents to $51.02 in early trading Monday.

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