Q COSTA RICA – The chain International House of Pancakes (IHOP) is looking for partners to open at least ten locations in Costa Rica, as part of its growth plan in Latin America.
Dan Lecocq, Dine Equity VP and Jorge Lizan, CEO of Lizan Retail Advisors (LRA), contracted to advise the franchise in its strategy of entering the Costa Rican market, will be visiting Costa Rica in the comings days to meet with potential investors interested in developing the franchise in the country.
Dine Equity formerly known as IHOP Corporation operates IHOP and Applebee’s restaurants, with three locations in Costa Rica.
IHOP is renowned for offering 65 breakfast options at any time of the day, as well as lunch and dinner alternatives. Currently, there are more than 1,700 locations in the United States, Canada, Mexico, Guatemala, United Arab Emirates, Qatar, the Philippines and others. The brand is already present in Panama, Costa Rica’s neighbour to the south.
Elfinancierocr.com reports that “…IHOP is focusing on growth in Costa Rica for several reasons, including the growing economy and stability which is encouraging entrepreneurs to seek new opportunities and consumers to enjoy more meals outside of the home. On top of all this, the response from the people of Costa Rica to US casual food brands has been favorable … “.
Last year, in March, the Q reported IHOP’s intentions for Costa Rica but the plans never came to fruition.