IHOP 2010 Annual Report Download - page 45
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Please find page 45 of the 2010 IHOP annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
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Applebee’s IHOP
Company- Company- Area
Franchise Operated Total Franchise Operated License Total
Texas ....................... 90 — 90 183 — — 183
Utah ....................... 16 — 16 19 — — 19
Vermont..................... — 3 3 1 — — 1
Virginia ..................... 22 51 73 57 — — 57
Washington .................. 39 — 39 31 — — 31
West Virginia ................. 15 2 17 6 — — 6
Wisconsin .................... 44 — 44 14 — — 14
Wyoming .................... 5 — 5 3 — — 3
Total Domestic .............. 1,553 309 1,862 1,313 11 152 1,476
International
Bahrain ..................... 1 — 1 — — — —
Brazil ....................... 11 — 11 — — — —
Canada ..................... 25 — 25 4 — 12 16
Chile ....................... 3 — 3 — — — —
Costa Rica ................... 1 — 1 — — — —
Greece ...................... 6 — 6 — — — —
Guatemala ................... 3 — 3 — — — —
Honduras .................... 7 — 7 — — — —
Jordan ...................... 1 — 1 — — — —
Kuwait ...................... 5 — 5 — — — —
Lebanon .................... 1 — 1 — — — —
Mexico ...................... 63 — 63 10 — — 10
Puerto Rico .................. 2 — 2 1 — — 1
Qatar ....................... 4 — 4 — — — —
Saudi Arabia ................. 12 — 12 — — — —
Singapore .................... 1 — 1 — — — —
United Arab Emirates ........... 2 — 2 — — — —
St. Croix, Virgin Islands ......... — — — 1 — — 1
Total International ............ 148 — 148 16 — 12 28
Totals ................... 1,701 309 2,010 1,329 11 164 1,504
As of December 31, 2010, we operated 309 Applebee’s restaurants and 11 IHOP restaurants for a
total of 320 company-operated restaurants. Of these restaurants, we leased the building for 37 sites,
owned the building and leased the land for 151 sites, owned the land and building for nine sites and
leased the land and building for 123 sites.
Of the 1,329 IHOP restaurants operated by franchisees, 61 were located on sites owned by us, 692
were located on sites leased by us from third parties and 576 were located on sites owned or leased by
franchisees. All of the IHOP restaurants operated by the area licensee and all of the franchisee-
operated Applebee’s restaurants were located on sites owned or leased by the area licensee or the
franchisee.
Leases of IHOP restaurants generally provide for an initial term of 20 to 25 years, with most
having one or more five-year renewal options. Leases of Applebee’s restaurants generally have an
initial term of 10 to 20 years, with renewal terms of 5 to 20 years. In addition, a substantial portion of
the leases for both IHOP and Applebee’s restaurants include provisions calling for the periodic
escalation of rents during the initial term and/or during renewal terms. The leases typically provide for
payment of rents in an amount equal to the greater of a fixed amount or a specified percentage of
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