IHOP, originally known as the International House of Pancakes, is a family-diningrestaurant chain that has been sister chains with casual-dining chain Applebee’s Neighborhood Grill & Bar since 2007, when IHOP’s then-CEO Julia Stewart orchestrated the merger into what is now Dine Brands Global.
Stewart championed the “asset-light” approach to chain restaurants and IHOP remains 100% franchised to this day.
International House of Pancakes was founded by brothers Al and Jerry Lapin in 1958 in the Los Angeles suburb of Toluca Lake, Calif. They and early investors Al and Trudy Kallis began franchising in 1960, building signature A-frame restaurants until 1979.
IHOP went public in 1961 and then acquired such brands as Orange Julius, Love’s Wood Pit Barbecue, Golden Cup Coffee Shops, The Original House of Pies and Wil Wright’s Ice Cream Shoppes, which it later sold. A marketing campaign started using the acronym IHOP in 1973. It began trading on Nasdaq in 1991 and the New York Stock Exchange in 1999.
Recent moves before and during the pandemic were made to attract guests to dayparts other than breakfast, including revamped burgers and the introduction of burritos and bowls.
Headquarters: Glendale, Calif.
Segment: Family dining
Restaurant Segment: FSR Midscale
Number of U.S. Locations: 1,678
2020 Sales: $2.5 million
Source: Datassential Firefly 500
CEO: John Peyton
Parent Group: Dine Brands Global