IHOP 2011 Annual Report Download - page 4

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WIN
At
DineEquity
,
quity
quity
working
together is how we win.
W
ogether
W
W
W
W
This year, I celebrated my tenth anniversary as CEO of first IHOP® and
now DineEquity, and I am extremely proud of the progress the Company
has made during that time. In the past year alone, we’ve achieved several
exciting new milestones, including filling key roles on our DineEquity
Senior Leadership Team.
In the four years since we acquired Applebee’s®, we’ve made significant
progress towards our revitalization strategy for this brand. We’ve driven
operational excellence and menu innovation, improved strategic advertising
and media, executed widespread restaurant remodels and continued
franchise development. Today, this strategy is coming together in a
meaningful way.
We are delivering against our long-term strategy.
A particular strength of the DineEquity business model is its ability to
help mitigate earnings fluctuations based on restaurant sales. With this
in mind, we set out several years ago to become a more highly franchised
organization. We have made excellent progress toward achieving this
goal. With the refranchising of 66 Applebee’s company-operated
restaurants in the New England area in 2011 and 17 company-operated
restaurants in the Mid-South region in the first quarter of 2012, we have
refranchised 342 Applebee’s company-operated restaurants since the
To Our DineEquity
Family of Stockholders,
02 DineEquity 2011 Annual Report