IHOP Franchisee Rima Hakim to Develop Six New Restaurants
December 11 2003 - 7:00AM
PR Newswire (US)
IHOP Franchisee Rima Hakim to Develop Six New Restaurants GLENDALE,
Calif., Dec. 11 /PRNewswire-FirstCall/ -- IHOP Corp. today
announced it has signed a Multi-Store Development Agreement (MSDA)
with its existing franchisee, Rima Hakim. Ms. Hakim will develop
six new IHOP restaurants over the next six years within the eastern
portion of Oklahoma. Ms. Hakim has been a franchisee since 1999,
but has been involved with the IHOP system since 1987 when her
family opened their first IHOP restaurant in San Antonio, Texas.
While her brother subsequently expanded in San Antonio, she and her
father opened several IHOP restaurants in the Dallas/Fort Worth
area of Texas. Ms. Hakim was actively involved with the development
of two of her family's IHOP restaurants under the Company's
previous Franchise Investor Program. More recently, she financed
and developed her own IHOP restaurant in Denison, Texas. She
currently owns three restaurants in the cities of Rockwall, Fort
Worth and Denison, Texas, which together employ more than 350
people. Julia A. Stewart, IHOP's President and Chief Executive
Officer, said, "We are very pleased that Rima has chosen to develop
IHOP restaurants in the promising Oklahoma market. She is an
experienced and talented restaurant operator. And, with more than
16 years of experience with the IHOP system to guide her, we are
confident in her ability to successfully develop in this new market
and build on her past successes." Rima Hakim said, "Throughout my
career, I have focused on taking the right steps to achieve my
goals. Now, I am able to take the challenge to the next level with
the opportunity to build additional restaurants in a great new
market. By surrounding myself with people who share similar values
and beliefs, I expect to achieve not only my vision for the future,
but also play a role in helping IHOP to become number one in family
dining." Ms. Hakim plans to open her first restaurant under this
agreement in the spring of 2004. About IHOP Corp. The IHOP family
restaurant chain has been serving a wide variety of breakfast,
lunch and dinner selections for 45 years. Offering more than 16
types of pancakes, as well as omelettes, breakfast specialties,
burgers, sandwiches, chicken and steaks, IHOP's diverse menu
appeals to people of all ages. IHOP restaurants are developed,
operated and franchised by Glendale, California based IHOP Corp. As
of September 30, 2003, there were 1,149 IHOP restaurants in 48
states and Canada. IHOP is publicly traded on the NYSE under the
symbol "IHP." For more information, call the Company's headquarters
at (818) 240-6055 or visit the Company's Website located at
http://www.ihop.com/ . Forward-Looking Statements There are
forward-looking statements contained in this news release. They use
such words as "may," "will," "expect," "believe," "plan," or other
similar terminology. These statements involve known and unknown
risks, uncertainties and other factors, which may cause the actual
results to be materially different than those expressed or implied
in such statements. These factors include, but are not limited to:
risks associated with the implementation of the Company's new
strategic growth plan, the availability of suitable locations and
terms of the sites designated for development; legislation and
government regulation including the ability to obtain satisfactory
regulatory approvals; conditions beyond IHOP's control such as
weather, natural disasters or acts of war or terrorism;
availability and cost of materials and labor; cost and availability
of capital; competition; continuing acceptance of the International
House of Pancakes brand and concepts by guests and franchisees;
IHOP's overall marketing, operational and financial performance;
economic and political conditions; adoption of new, or changes in,
accounting policies and practices; and other factors discussed from
time to time in IHOP's filings with the Securities and Exchange
Commission. Forward-looking information is provided by IHOP
pursuant to the safe harbor established under the Private
Securities Litigation Reform Act of 1995 and should be evaluated in
the context of these factors. In addition, IHOP disclaims any
intent or obligation to update these forward-looking statements.
DATASOURCE: IHOP Corp. CONTACT: Tom Conforti, Chief Financial
Officer, +1-818-240-6055, or Stacy Roughan, Director, Investor
Relations, +1-818-543-4138, both of IHOP Corp. Web site:
http://www.ihop.com/ Company News On-Call:
http://www.prnewswire.com/comp/442375.html
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