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IHOP

Headquarters:
450 North Brand Blvd.
Glendale, CA 91203
Employees: 25,000+
CEO: Julia Stewart
Stock Symbol: DIN

Website: http://www.ihop.com

Career Site

IHOP is a national restaurant chain best known for breakfast and pancakes. The restaurants were originally known as International House of Pancakes and are easily recognizable because of its A-frame design.

At the end of 2013, there were 1,593 IHOPs in 50 states, Canada, Puerto Rico, the Virgin Island and Mexico. IHOP restaurants are franchised and operated by Glendale, Calif.-based IHOP, a subsidiary of DineEquity Inc. Most locations are owned by franchisees.

IHOP serves more than 14 different varieties of pancakes including Chocolate Chip, Banana Nut, Buttermilk, Country Griddle Cakes and their famous fruit-topped pancakes. Restaurants together serve more than 700 million pancakes per year and customers use more than 1.5 million gallons of syrup annually. Other signature breakfasts include the Rooty Tooty Fresh 'N Fruity, International Passport Breakfast and premium omelettes such as the Country Omelette and the Colorado Omelette.

Lunch and dinner specialties include Hamburgers and Cheeseburgers, Hamburger Club, Patty Melt, T-Bone Steak and Herb Roasted Chicken. IHOP restaurants also offer several desserts including Fruit Crepes and Ice Cream Sundaes.

Sales for IHOP restaurants increased 2.4% in 2013 in the U.S. There were 58 new restaurants opened in 2013.

History

IHOP traces its roots back to the opening of the first International House of Pancakes restaurant on July 7, 1958 in Toluca Lake, CA, a suburb of Los Angeles. The restaurant drew fans because of its pancakes. Within four years the number of units had increased to nearly 50, with many of the restaurants being operated by franchisees.

In 1961 the company became publicly traded under the name International House of Pancakes. The remainder of the decade was a time of acquisition for the company.

Acquisitions continued in the early 1970's when the company purchased The Shirt Gallery, Michael's Artists and Engineering Supplies and executed an agreement with Master Hosts International for the establishment of a major new motor hotel company. A strategic change would take place in 1973 with the company placing concentration for its future on a small group of brands: International House of Pancakes, Love's Restaurants, Orange Julius, Sawyer Business Colleges and The Bryman Schools. The 1970's would also witness the official "adoption" of IHOP for International House of Pancakes when in 1973 a new marketing program was undertaken utilizing the acronym IHOP for the first time. In 1975 the company would essentially complete its strategy of turning International Industries back into a restaurant franchiser and operator by divesting all remaining non-food businesses. In addition, the Orange Julius subsidiary was sold allowing the company to focus on it's most successful brands IHOP, Love's Restaurants and Copper Penny. In 1976 IHOP Corp. became the successor company to International Industries, Inc. which had changed its name to International House of Pancakes, Inc. By the late 1970's the company was once again growing as new IHOP franchised restaurants opened in markets across the country. The decade would conclude with two transactions of international flair. In 1978 the company entered the Japanese market through an area licensee, and in 1979 a Swiss company acquired a controlling interest in the company. In addition, Richard K. Herzer was appointed president of IHOP Corp.

The 1980's would bring an end to an architectural icon as the last A-frame IHOP was built in 1983. The new building was much more efficient and could accommodate more business but still retained key image characteristics of the famous A-frame including the familiar blue roof. For the balance of the decade the company focused on servicing franchisees and did not increase the number of locations. The company reverted back to American ownership in 1987 when Mr. Herzer and other investors purchased the company.

In the 1990s, IHOP continued its successful strategy of expansion primarily through franchising, increasing the number of restaurants from 490 to over 900. Having divested Love's and Copper Penny the company's sole focus is on the International House Of Pancakes and awareness of the brand exceeds 98 percent, making IHOP one of the most popular family restaurant chains in America. In 1991, to accommodate future growth, the company moved its headquarters to Glendale, CA and via an initial public offering became publicly traded on the NASDAQ Stock Market. For the first time average sales per restaurant exceeded one million dollars in 1993. IHOP reached another milestone in 1998 by, for the first time, exceeding one billion dollars in system-wide sales.

In 2007, the company that owned IHOP acquired Applebee's International for $2.1 billion in cash. The company's name was changed to DineEquity in 2008.

Benefits

Benefits include a competitive salary, 401K, comprehensive training and tuition reimbursement for continued education.

Updated October 27, 2014