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Dine Brands International Continues Global Expansion with IHOP® Restaurant Franchisee Deal in Western Saudi Arabia
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Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
Dine Brands International announces plans to open five IHOP® restaurants in Western Saudi Arabia over the next five years, starting with a location in Jeddah in early 2023. This expansion, partnering with franchisee Ahmed Marashde, marks a continued commitment to growth in the Middle East, following recent successes in Cairo, Egypt. The new locations will provide a diverse menu for breakfast, lunch, and dinner, targeting a significant population in a young, booming economy.
Positive
Planned expansion of five IHOP® restaurants in Western Saudi Arabia over five years.
Initial opening in Jeddah scheduled for early 2023.
Strong consumer demand observed in the Middle East.
Partnership with experienced franchisee Ahmed Marashde enhances operational potential.
Negative
None.
Five restaurants opening in Western Saudi Arabia over the next five years
GLENDALE, Calif.--(BUSINESS WIRE)--
Dine Brands International today announces plans to open five new IHOP® restaurants in the western Kingdom of Saudi Arabia (KSA), including Jeddah, Mecca, Medina, and cities along the Red Sea coast, with the first location scheduled to open in Jeddah in early 2023. The agreement with IHOP Franchisee Ahmed Marashde is a show of IHOP's continued expansion in the Middle East, further illustrated by the successful IHOP opening in Cairo, Egypt at the Cairo Festival City Mall and continued ghost kitchen expansion within the region.
Ahmed Marashde, Founder and CEO, Haseed Trading L.L.C., an IHOP Franchisee. (Photo: Business Wire)
“We are thrilled to bring IHOP's world-famous pancakes back to guests throughout sunny Saudi Arabia,” said Tony Moralejo, President, International, Dine Brands Global, Inc. “We've seen success and strong consumer demand in the Middle East and believe KSA to be a critical market for our continued growth in the region.”
"Ahmed brings over 30 years of experience in the food and beverage industry, including time as a former CEO of one of the largest international Applebee's franchisees. Through this experience he has proven to be a valued leader and outstanding operator. Ahmed’s experience and knowledge of suppliers, real estate, and local conditions make him the ideal franchise partner for Dine and IHOP," added Moralejo.
The new IHOP locations will offer casual dining spaces for guests to come together and enjoy IHOP's wide variety of breakfast, lunch and dinner items, including IHOP's World-Famous Pancakes, Breakfast Combos, Omelettes, Burgers, Hand-Crafted Melts, Burritos, Bowls, and more for dine-in, takeout, and delivery.
"We can't wait to introduce IHOP to Saudi Arabia. With a population of over 35 million, one of the world's youngest populations, and the largest economy in the Middle East, KSA is an ideal market for introducing and growing the IHOP brand," said Ahmed Marashde, Founder and CEO, Haseed Trading L.L.C., an IHOP Franchisee. “We are confident these new IHOP locations will spread happiness and leave guests with a smile on their faces.”
Dine Brands International is currently seeking qualified franchisees to develop additional markets throughout the Middle East and continues to place emphasis on growth in markets, including North America, Asia, and Latin America. For more information on international franchise opportunities, click here.
About Dine Brands Global, Inc.
Based in Glendale, California, Dine Brands Global, Inc. (NYSE: DIN), through its subsidiaries, franchises restaurants under both the Applebee's Neighborhood Grill + Bar and IHOP brands. With approximately 3,400 restaurants combined in 16 countries and approximately 350 franchisees, Dine Brands is one of the largest full-service restaurant companies in the world. For more information on Dine Brands, visit the Company’s website located at www.dinebrands.com.
