IHOP Is Coming to Town: Franchise Seeks Partners in Costa Rica

This week, the U.S. company DineEquity announced plans to open at least 10 International House of Pancakes (IHOP) brand restaurants in Costa Rica as part of its growth plan in Latin America, said Costa Rica's business daily El Financiero.

The brand's international growth has mainly focused on increasing the number of restaurants in existing markets and, at the same time, entering three new markets: Latin America, the Middle East, and the Asia Pacific region. From 2014 to 2016, 80 international locations were opened.

The diner-style eatery is renowned for offering all-day breakfasts. IHOP offers 65 breakfast options at any time of day, as well as lunch and dinner options. There are more than 1,700 such locations worldwide in the United States, Canada, Mexico, Guatemala, United Arab Emirates, Qatar, the Philippines, Panama and other countries.

This week, DineEquity vice president of international development, Dan Lecocq, along with Lizan Retail Advisors (LRA) CEO Jorge Lizan, will be in Costa Rica meeting with potential partners for the brand. LRA was contracted to advise the company on its strategy for entering the Costa Rican market, said a company press release.

IHOP chose to develop in Costa Rica for a number of reasons, including the growing economy and the country's stability, and a ready consumer base.

"The response of Costa Rican people to U.S. casual food brands has been favorable, and this implies a unique opportunity for IHOP to attract and delight its guests with an affordable culinary experience, and a warm and friendly service," the statement said. Finally, the increase in shopping centers and the abundance of qualified franchise operators, made Costa Rica an attractive site to grow.

"Beyond the requirements of business experience, we are also looking for qualified franchise partners that align with our brand identity. They have to embody a spirit of enterprise and a high level of commitment to guest service," said Lecocq.

DineEquity, in addition to operating restaurants under the IHOP brand, franchise restaurants of the Applebee's Neighborhood Grill & Bar brand.

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