| Price Range 12mo avg: | $2M – $4.8M |
|---|---|
| $/sf 12mo avg: | $683 |
| CAP Rate 12mo avg: | 6.47% |
| NOI average: | $198,748 |
| Lease Terms: | 18yrs NNN |
| Building Size avg: | 4,750 SF |
| Lot Size avg: | 1.30+/- acres |
The largest full-service dining company in the world.
In the past, the world knew us as IHOP®, an American icon to our guests and a franchising company that was focused on providing strategic leadership and vision for our franchisees and on enhancing value for our shareholders. With this dedicated focus, we cultivated a core expertise in brand revitalization and franchising know-how which became the basis for the winning formula that has defined the financial success of our business in recent years. With the addition of Applebee’s® to the IHOP family of restaurants in November 2007, we made a bold new commitment to our brand revitalization abilities and to the power of franchising. DineEquity promises to make our two businesses more powerful and more successful than either brand could have been apart. In October of 2012, DineEquity successfully completed the transition of Applebee’s to a 99% franchised restaurant system. Our goal remains to provide delicious, innovative dishes and exceptional guest experiences each and every time a guest walks through either brand’s doors. With more than 3,600 restaurants combined in 18 countries, more than 400 franchisees and approximately 200,000 team members (including franchisee- and company-operated restaurant employees), DineEquity is one of the largest full-service restaurant companies in the world.
Applebee’s
With more than 2,000 restaurants in 49 states, 16 countries and two U.S. territories, Applebee’s is the world’s largest casual dining brand. Founded in 1980 in Atlanta, Georgia by Bill and T.J. Palmer, Applebee’s has always been dedicated to full service, consistently good food, reasonable prices and quality service in a neighborhood setting. Today, we are focused on building upon this heritage and maintaining Applebee’s brand position at the top of the casual dining industry by becoming more competitive and differentiated in the casual dining segment of the restaurant industry. We expect to generate sustainable same-restaurant sales momentum for the Applebee’s brand by significantly increasing the effectiveness of Applebee’s marketing efforts, making meaningful improvements to the operational performance of our restaurants, and continuously introducing fresh, innovative dishes for our guests to enjoy.
Applebee’s® competes in the grill & bar segment of the casual dining category of the restaurant industry. In October of 2012, Applebee’s completed the refranchising program initiated in 2008, successfully transitioning to a 99% franchised restaurant system. Applebee’s Neighborhood Grill & Bar restaurants are known for their fun and family-friendly neighborhood atmosphere and signature grill & bar menu items that guests can only get at Applebee’s.
| S&P Credit Rating: | N/A |
|---|---|
| Moody’s Credit Rating: | N/A |
| Annual Revenue 2014: | $655M |
| Annual Revenue 2013: | $640.5M |
| Revenue Growth: | ↑ 2% from 2013 |
| Net Income | $36.5M |
| Units (Dec. 2014) | 2,017 |
| Average Units Volume: | $174.7K |
Net income was impacted by loss on extinguishment of debt related to the Company’s refinancing of its long-term debt.
2014 Refinancing of Long-term Debt
On September 30, 2014, the Company repaid the entire outstanding principal balance of $463.6 million of the Credit Facility; there were no premiums or penalties associated with the repayment. On October 30, 2014, after a required 30-day notice period, the Company repaid the entire outstanding $760.8 million principal balance of Senior Notes, along with a required make-whole premium for early repayment of $36.1 million. All of our obligations under the Credit Facility and the Senior Notes terminated upon the respective repayments thereof.
This transaction was accounted for as an extinguishment of debt under U.S. GAAP. We recognized a loss on debt extinguishment of $64.9 million for the year ended December 31, 2014, comprised of the $36.1 million make-whole premium on the Senior Notes and the write-off of the unamortized debt discount and the issuance costs associated with the extinguished debt of $16.9 million and $11.9 million, respectively.
Average Units Volume is calculated on a combined total of Applebee’s and IHOP units (3,667) and does not account for store sales as 99% of the units are franchised.
Yahoo! Finance: DIN News Latest Financial News for DIN
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JCP Partners asks Dine Brands to spin off IHOP in shareholder proposal
on April 2, 2020 at 9:40 pm
Activist investment firm JCP Investment Partnership is urging Dine Brands Global Inc to spin off its IHOP pancake house restaurant chain at a time restaurants have largely been ordered to shut in order to help slow the spread of the coronavirus. The Houston-based investment firm told the Glendale, California-based company that its two chains - IHOP and Applebee's Grill & Bar - do not fit together and IHOP should be turned into a standalone company. JCP made a shareholder proposal which was made public in a regulatory filing by Dine late on Wednesday. […]
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7 New Food Items We Can't Wait To Eat: Shackburger, Big King XL And More
on April 1, 2020 at 9:05 pm
New food items in the grocery store and restaurant items available for delivery couldn't have come at a better time. The American public remains mostly sheltered up in their homes and many are itching for something new and exciting to eat.Breakfast: IHOP Cereal A Must Have Going out for a steak is my top post-coronavirus priority, but a close second is pancakes topped with cereal at IHOP. Hopefully the Dine Brands Global Inc (NYSE: DIN) brand will extend its Cinnamon Toast Crunch Pancakes limited edition offering beyond April 12.Lunch: Burger And Jalapeño Cheddar Bites I haven't had a Burger King meal in at least 10 years, but the return of the Big King XL Sandwich and new Jalapeño Cheddar Bites sounds like reason enough to place an order.The Big King XL includes half a pound of beef, four slices of cheese, and the regular fixings found in a Whopper. The Cheddar Bites is what it sounds like and is a new addition at the Restaurant Brands International Inc (NYSE: QSR) brand and will be available nationwide on April 3, according to Chewboom.See Also: 5 Home Cooking InspirationsMid-Day SnackingNothing says a midday pick-me-up like a snack-size portion of our favorite cereals. Kellogg Company (NYSE: K) launched "Snax Packs" in four fan-favorite cereals, including Froot Loops, Tiger Paws, Apple Jacks, and Corn Pops.Need a coffee instead? Jack in the Box Inc. (NASDAQ: JACK) will have you coffered with a new High Mountain Arabica Coffee, which is twice as strong as a single cup of regular coffee. The restaurant is also selling a Hershey's Chocolate Caramel coffee along with a new French Vanilla creamer option.Dinner At Home Thanks To Shake Shack Shake Shack Inc (NYSE: SHAK) teamed up with Goldbelly to sell a do-it-yourself Shackburger kit. Each kit comes with eight patties and rolls, cheese, and custom Shack Sauce. Each kit costs $49 but add a few extra dollars for onions and other toppings that aren't included.Dessert Although I'm far from a big fan of ice cream (yes, really), Walmart Inc's (NYSE: WMT) upcoming Root Beer & Vanilla Float sounds amazing. My father introduced me to the concept of a Root Beer float decades ago and this is at the top of my grocery store must-have list.Other Great Value ice cream brands set to launch in the Spring include a fat-free Margarita Ice Sherbet, Circuits Cookie Ice Cream, and Mango Habanero Coconut Ice Cream.See more from Benzinga * Mark Newton Says There Can Still Be Winners In Retail, But Be Selective * Dave Portnoy And Jim Cramer Talk Stock Market, Nordic American And More * 'Dose Of Reality': Shake Shack, GrubHub Execs Offer Business Updates(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. […]
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Bay Area restaurant magnate says most will have trouble paying April rent
on March 20, 2020 at 8:53 pm
Commercial real estate investors counting on restaurants paying next month's rent may be disappointed. […]
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Bill Ackman Sees Opportunity in the Beaten-Down Hospitality Sector
on March 19, 2020 at 9:11 pm
The activist investor has been adding to his hotel holdings Continue reading... […]
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Dine Brands Global, Inc. Draws on Existing Variable Funding Senior Notes
on March 19, 2020 at 8:30 pm
Dine Brands Global, Inc. (NYSE: DIN), the parent company of Applebee's Neighborhood Grill & Bar® and IHOP® restaurants, today announced it has drawn down a total of approximately $223 million of the $225 million available under its revolving financing facility pursuant to its 2019-1 Variable Funding Senior Notes issued as part of the company’s securitization refinancing in 2019. Although Dine Brands does not have an immediate need for additional liquidity, precautionary steps were taken to increase the company’s financial flexibility in light of unprecedented conditions due to the COVID-19 outbreak. The proceeds will be used for general corporate purposes. […]
NYSE: DIN
