DineEquity, Inc. (NYSE: DIN), parent company of Applebee’s Neighborhood Grill & Bar® and IHOP® Restaurants, today announced that International House of Pancakes LLC has signed an agreement with Pacific Pancakes, LLC, to open three IHOP restaurants on the Island by 2018. The deal is expected to bring 250 new jobs to the Guam economy.
The first location, which will be in Tamuning near GPO, one of Guam’s premier shopping outlets, is scheduled to open before year-end 2014.
Pacific Pancakes, LLC, is an affiliate of Apple Pacific, an entity that has already signed a deal to open two Applebee’s Neighborhood Grill and Bar restaurants in Guam, with the first location scheduled to open this summer. The group is comprised of local investors with diverse business backgrounds spread throughout Guam’s business community.
“We are excited Pacific Pancakes has expanded their relationship with DineEquity and are looking forward to bringing both our brands to new guests in Guam,” said Daniel del Olmo, President of International at DineEquity, Inc. “As Apple Pacific, Richard Hart and his group have been tremendous partners with Applebee’s, and they share our commitment to quality and hospitality as we bring both the world famous IHOP and Applebee’s brands to this new region and extend the reach of our global brand.”
“We are proud to partner with DineEquity to bring both of their number one brands to Guam,” said Hart, President, Pacific Pancakes, LLC. “Like Applebee’s, IHOP is a legendary brand, and we are eager to share both traditional IHOP classics and new items tailored specifically for the region to eager guests.”
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