IHOP Restaurant

IHOP, officially known as the International House of Pancakes, is an American multinational pancake house/diner-style table service restaurant chain that specializes in breakfast foods. It is owned by DineEquity, with 99% of the restaurants run by independent franchisees. While IHOP’s focus is on breakfast foods, it also offers a menu of lunch and dinner items.

The company has 1,650 locations in North America, Latin America, the Middle East, Southeast Asia, and Oceania. It is known for many of its locations being open 24 hours a day, 7 days a week. For locations that are not open 24 hours, the franchise’s minimum operating hours are Sunday through Thursday from 7 a.m. to 10 p.m., and Fridays and Saturdays from 7 a.m. to 12 midnight.

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Parent Company: Bloomin' Brands Inc
Store Count: 1,650
S&P Rating: BB

S&P Outlook: Stable

Moody Rating: Ba2

Moody Outlook: Stable

Typical Lease Characteristics

Lease Term: 10 – 15 Years  Years

Lease Type: Absolute NNN Lease 

Lease Increases: 10% Every 5 years 

Lease Extensions: 4-5 (5) Year Options

Lease Guarantor: Corporate and Franchise


  • Public Company, Credit Rated
  • Strong Parent Company
  • Typically Long term leases with increases


  • Consumers are showing a growing interest in healthy fast food.
  • Competitive Industry Sector
  • Susceptible to economic trends and pressures

Market Snapshots:

On Market Ranges:

# of Properties in set: 12

Price: $2,851,030 - $3,665,610Average: $3,133,000

PPSF: $720 - $920Average: $795

Year Built: 1970 - 2009Average: 1991

CAP Rate Range: 5.09% - 6.73%Average: 6.06%

Size range: 2,522 sq ft - 5,147 sq ft Average: 4,050 sq ft

Last 12 Month Range:

# of Properties in set: 29

Price: $2,021,690 - $2,430,570Average: $2,271,557

PPSF: $413 - $491Average: $454

Year Built: 1986 - 2018Average: 2004

CAP Rate Range: 5.55% - 6.70%Average: 6.09%

Size range: 3,059 sq ft - 6,437 sq ft Average: 4,781 sq ft

IHOP Restaurant Company Profile

Headquarters Information

Glendale, California

Founded in 1958

Company type: Public

Stock Ticker: BLMN

Parent Company: Bloomin' Brands Inc

Sector: Services

Industry: Restaurants

# of Employees: 32,300

S&P Rating: BB

S&P Outlook: Stable

S&P Rating: Ba2

Moody Outlook: Stable

IHOP Restaurant Stock Keys

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