Applebee’s is shrinking. Its parent company may open joint restaurants with IHOP
CNN
We’ve all seen the combination Taco Bell and KFC, or the joint Auntie Anne’s and Cinnabon. Now another dual-branded restaurant could enter the US dining landscape.
We’ve all seen the combination Taco Bell and KFC, or the joint Auntie Anne’s and Cinnabon. Now another dual-branded restaurant could enter the US dining landscape. Dine Brands Global is considering an Applebee’s and IHOP combination, according to an earnings call on February 28. Dine Brands is the parent company of both restaurant chains. Applebee’s is shrinking. While Dine Brands added a net 33 IHOP restaurants domestically in 2023, the company closed 46 Applebee’s locations and only opened 10 new ones, according to the company’s 10-K. Dine Brands wants Applebee’s to return to growth, the company said during its earnings call. Because of the cost to build an Applebee’s, Dine Brands is “assembling a prototype” for another option. The revenue for the joint restaurants could double that of the standalone restaurants, the company said in the earnings call. That’s because the two restaurants’ menus hit all parts of the day (such as pancakes for breakfast and boneless wings at night). Other companies are leaning into the idea of joint restaurants. Many combination fast food restaurants that customers see are owned by Focus Brands, which has Auntie Anne’s, Carvel, Cinnabon, Jamba, Moe’s Southwest Grill, McAlister’s Deli and Schlotzsky’s under its umbrella.
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