GLENDALE, Calif. — Dine Brands Global, announced on Oct. 16 that it plans to continue its South American brand expansion to Ecuador.
The company, which runs IHOP Restaurants, came to an agreement with franchisee Restaurantes Unidos Restaunsa SA, a part of Corporacion El Rosado (CER) to operate 12 restaurant locations in Ecuador by 2024. The first one is expected to be open in 2019. Dine Brands said in a release that the deal is expected to create more than 340 new jobs in the Ecuadorian economy.
"We are very pleased with the rapid progress of our announced strategy to focus on development in Latin America, the Middle East, and Asia, and I am very excited by the pace in which the brand is expanding in South America," said Steve Joyce, CEO of Dine Brands Global Inc. "It's especially gratifying that we are growing at this pace with the right franchisees who have the right experience and share our commitment to the Dine Brands mission: uniting communities over great food and memorable dining experiences, at our restaurants all over the world.”
The first South American restaurant is expected to open in 2019 in Lima, Peru.
"The classic IHOP experience—world famous breakfast items any time of day along with the wide variety of lunch and dinner items served with warm hospitality—is unique and one we can't wait to bring to our guests in Ecuador," said John Czarninski, executive president, Restaurantes Unidos Restaunsa SA and CER. "We've seen great acceptance from Ecuadorians when we've brought an authentic American experience to the country, and we are delighted to bring one of the most iconic American brands in the world to Ecuador."
Dine Brands Global currently operates more than 1,750 IHOPs around the world including restaurants in all 50 states and the District of Columbia, Puerto Rico and Guam as well as Canada, Mexico, Guatemala, Panama, Lebanon, the Kingdom of Saudi Arabia, Kuwait, the United Arab Emirates, Bahrain, Qatar, Thailand and India. The company also operates the Applebee’s Neighborhood Grill & Bar chain.