The recent marketing ploy by The International House of Pancakes resulted in big gains for the brand, the CEO of its parent company said Wednesday.
IHOP said in June it was changing its name to IHOb, which stood for The International House of Burgers. The company later said the name change was merely a PR push to beef up its burger sales.
Dine Brands Global CEO Steve Joyce told Fox Business the 60-year-old brand saw a significant uptick in sales of its burgers.
“We quadrupled the number of burgers we were selling and that’s continuing,” Joyce said. “And both lunch and dinner part sales went up significantly. So, for us, it was great.”
Joyce noted pricing IHOP’s burger at less than $7 makes it competitive in a crowded market.
“Food costs for our brands have been great over the last several years and while the field is crowded and we needed to have a great burger, but we introduced the burger at a $6.99 price point with a Coke and fries and that clearly resonated with our guests,” Joyce said.
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