MANILA - Filipino restaurant operator Global Restaurant Concepts Inc. plans to put up about 85 IHOP restaurants across Southeast Asia along with three initial Applebee’s Grill and Bar branches in the Philippines in the next seven years, with investments seen reaching $27 million or about P1.2 billion.
In a press briefing yesterday, Global Restaurant officials said they would bring into the country Applebee’s Grill and Bar through a franchise agreement entered with Amercian company DineEquity Inc., one of the world’s largest full-service restaurants.
Global Restaurant president and chief executive officer Archie Rodriguez said the company plans to initially open three Applebee’s branches in the Philippines at a cost of about $500,000 per branch.
He said the first store would open next month in Bonifacio Global City, to be followed by another in Eastwood City later this year. The third branch is slated for opening next year.
While the company is still on the testing stage for Applebee’s in the Philippines, Rodriguez said Global Restaurant would move in the opposite direction for IHOP, with plans to aggressively expand not only in the country but across Southeast Asia as well.
Rodriguez said the company would open 20 IHOP restaurants in the Philippines over a three to four-year period and up to 50 in the next seven to eight years.
Depending on market demand, he said the firm may be able to put up as much as 70 stores, with each branch requiring an average investment of $300,000.
Global Restaurant currently operates seven IHOP restaurants in the Philippines — also through a franchise agreement with DineEquity.
Rodriguez said the company intends to open stores in Eastwood and Baguio within the year while about four or five more IHOP branches are being planned next year that will likely include one each in Davao and Cebu.
He said part of its franchise agreement with DineEquity is to open a total of 35 stores in the next seven years across Southeast Asia.
“We are already in discussions for local joint venture partners in Thailand, Malaysia and Vietnam. We are hoping to ink a deal in the next couple of months,” he said.
Applebee’s Grill and Bar is considered a leader in the casual dining category in the US through offerings such as handcrafted burgers, steaks, ribs, sandwiches and salads.
IHOP restaurants, meanwhile, is a popular place for the family dining category in the US.
Read more on Philippine Star.