The US company DineEquity Inc. has announced the opening of its first restaurant in Panama City, and plans to open four other establishments in the next five years.
Tuesday, December 12, 2017
From a statement issued by DineEquity Inc.:
DineEquity, Inc.® ("DineEquity"; NYSE:DIN), one of the world's largest full service restaurant companies and the parent company of Applebee's and IHOP® restaurants, has opened the first Applebee's® Grill + Bar on December 8 in Panama City,Panamait was announced today by Stephen Joyce, CEO and President, International, DineEquity Inc. The restaurant is the first of five locations planned for Panama within the next five years under an agreement with franchisee Collins Restaurant Group, Inc.
Located in Via Centenario, Altaplaza Mall, Local 2-417, Ciudad de Panamá, the restaurant is expected to bring 70 new jobs to the economy as well as additional tax revenue and ongoing local spending on supplies, ingredients and marketing and other services.
"We are delighted that we will now have both of our leading and iconic brands inPanama, particularly given the warm welcome and success we've seen with our IHOP brand in the past year," said Joyce. "This opening represents our continued strategy of bringing our brands toLatin Americaand we are pleased to expand our relationship with our franchisee Collins Restaurant Group, Inc., which was instrumental in bringing IHOP Fresh & Go toPanama. At Applebee's we say 'there is always a reason to celebrate' and I can't think of a better reason than this."
"We are thrilled to bring the quintessential Applebee's American style menu and bar to our guests in Panama," said William Urrego, regional vice president of the Americas. "We are pleased that our restaurants will not only be part of the neighborhood but part of the local economy on an ongoing basis. For both our brands, we try to source locally if possible. We're confident that with the Collins Restaurant Group, Applebee's will bring its heritage of 'There's Always a Reason to Celebrate' to this location and others to come."
"We have been fans of Applebee's unmatched lunch and dinner entrees for years," said John Collins, president of Collins Restaurant Group, Inc. "We've always felt that the unique Applebee's experience and food would be a great match for Panama and we are delighted and excited to bring it here. We've had such a great experience with DineEquity through IHOP Fresh & Go that we knew we wanted to be the ones to bring their other great brand toPanama."
The Applebee's restaurant will be the latest "Celebration" model which is their international design. DineEquity through its subsidiaries franchises two top brands that are leaders in their categories—Applebee's Grill + Bar is a leader in the casual dining category and IHOP restaurants is a leader in the family dining category. The last two years have seen record growth internationally for DineEquity's brands both in terms of new restaurants in existing markets as well as the addition of new countries and territories including Thailand,India, andLebanon.
The restaurant will seat approximately 199 guests and will be open Sunday thru Thursday from 11:00 am to 11:00 pmand on Friday and Saturday11:00 am to 1:00 am.
Based in Glendale, California, DineEquity, Inc. (DIN), through its subsidiaries, franchises restaurants under the Applebee's Neighborhood Grill + Bar brand and the IHOP brand.With more than 3,700 restaurants combined in 18 countries and U.S. territories and over 400 franchisees, DineEquity is one of the largest full-service restaurant companies in the world.
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Arguing that there were problems of profitability, the Applebee's chain decided to close the three service centers it was operating in the country.
The restaurant franchise was operated in Costa Rica by the company Dine Equity, and the premises that were closed were located in Terrazas de Lindora, San Pedro and Cariari.
The US company Denny's has announced the opening of its first restaurant in Guatemala City, which will be operated by a company of Honduran origin called Comidas Especializadas.
From a press release by Denny´s:
SPARTANBURG, S.C.--(BUSINESS WIRE)--Denny'sCorporation (NASDAQ:DENN), one of the world's largest full-service family dining chains, today announced the opening of its first restaurant in Guatemala located on Liberacion Blvd. near the airport. The new restaurant is owned and operated by Honduras-based franchisee, Comidas Especializadas S. de R.L., led by experienced franchisee Mr. Roberto Larach, an existing Denny’s franchise partner. This newest location in Guatemala marks the 13thcountry in Denny’s global portfolio.
A representative of the American restaurant franchise Chuck E Cheese's is planning to open three stores in the country, and is currently looking for spaces in the West and East of San Jose.
The representative company plans to open the first restaurant in Plaza Bratsi, in Heredia.Around $3 million will be invested in this location, and the process of remodeling the premises, importing games and hiring staff is currently being completed.
Aguaceros de Esperanza Group of Costa Rica will invest $5 million for the construction of the franchise’s restaurants.
With an investment of $1.3 million for each building, the Aguaceros de Esperanza Group has scheduled opening its first restaurant in Santa Ana, San José, in late 2009.
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