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Thursday, Aug 18, 2022
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IHOP to Open New Restaurants in Canada

IHOP announced Monday a new franchise deal with Canadian real estate developer K2 Group, with plans to develop at least five restaurants across Ontario over the next five years.The first location is scheduled to open at the 10 Acre Truck Stop in Belleville, Ontario, at the beginning of 2022. K2 Group acquired the truck stop in May 2021 and plans to invest $2 million into the development of the IHOP restaurant to serve the truck-driving guests.“We are pleased to push forward with our international expansion plans and believe working with K2 Group creates the perfect opportunity to successfully build and grow our portfolio across Ontario,” Tony Moralejo, president of Dine Brands Global Inc., the Glendale-based parent company of IHOP, said in a statement. “We are optimistic that the market is well-positioned to get back to its pre-pandemic growth momentum as we bring jobs, as well as our local and hand-made-to-order menu items to our Canadian neighbors.”IHOP Belleville will employ more than 60 staff and seat up to 184 guests. The franchise agreement calls for a minimum of five IHOP restaurant openings over the next five years in Belleville, Hamilton, Waterloo, London and Windsor, Ontario.Shares of Dine Brands (DIN) closed down $1.22, or 1.6 percent, to $76.14 on Monday on the New York Stock Exchage, while the Dow closed up a fraction of a percent.

Katherine Tangalakis-Lippert
Katherine Tangalakis-Lippert
Katherine Tangalakis-Lippert is a Los Angeles-based reporter covering retail, hospitality and philanthropy for the San Fernando Valley Business Journal. In addition to her current beat, she is particularly interested in criminal justice topics, health and science stories and investigative journalism. She received her AA in Humanities from Moorpark College in 2016, her BA in Communication from Cal Lutheran University in 2019 and followed it up with a MA in Specialized Journalism from USC in the summer of 2020. Through her work, Katherine aspires to help strengthen the fragile trust between members of the media and the public.
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