Indoor dining restrictions might be making it harder for pancakes to sell like hotcakes during the pandemic. IHOP will close nearly 100 restaurants in the next six months, the pancake house and breakfast chain’s parent company, Dine Brands Global, revealed in its third-quarter earnings report Wednesday.
IHOP has just announced that it is bringing so many new locations to Ontario. In a press release, the K2 Group announced that five new restaurants will be opening throughout the next five years. The first location is scheduled to open at the 10 Acre Truck Stop in Belleville by early 2022.
If online ordering is a big deal in the food business, delivery is giving that some real competition. While casual dining has plunged, food delivery has exploded. The problem is that like online ordering, IHOP didn’t get on the delivery train until well after it had left the station.
IHOP is owned by Dine Brands, which owns another major chain as well: Applebee’s. Applebee’s was bought up in 2007 as an attempt to pick up a bit more grown-up dining traffic, and most of Dine Brands’ problems lately have been thanks on the riblet-slinging chain.
Why are IHOPs closing?
IHOPs across the country are closing, and part of that is because the company is only slowly coming to terms with how the industry has changed. Here are all the obstacles facing what used to be one of America’s most popular diners.
IHOP is owned by Dine Brands, which owns another major chain as well: Applebee’s. Applebee’s was bought up in 2007 as an attempt to pick up a bit more grown-up dining traffic, and most of Dine Brands’ problems lately have been thanks on the riblet-slinging chain.
The menu is forgettable. Probably the most famous dish IHOP serves is the Rooty Tooty Fresh ‘n Fruity, which is four buttermilk pancakes with a fruit and syrup topping and whipped cream. That dish is old enough to be a millennial, which should tell you how often the pancake house changes its menu.
The Real Reason Why IHOP Is Disappearing Across The Country. It wasn’t so long ago that IHOP dominated the breakfast landscape. After a rocky period in the 1970s , when its corporate owner International Industries collapsed and IHOP was left out in the cold, it was saved by refo cusing on family dining right as the mall was blossoming across …
Between 2017 and 2020, independent restaurants and small chains are expected to grow at a rate of 4 to 5 percent, double the rate of major chains.
While Applebee’s has turned it around at the moment by following a policy of catering to stress eaters and people who want to get hammered on the cheap, the simple fact of the matter is that if Applebee’s sinks, IHOP is being dragged down with it.
After a rocky period in the 1970s, when its corporate owner International Industries collapsed and IHOP was left out in the cold, it was saved by refocusing on family dining right as the mall was blossoming across the American landscape. Its policy of staying open 24 hours a day, seven days a week, every single day of the year …
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