IHOP Corp., the family owned restaurant chain headquartered in Glendale, has announced agreements during the fourth-quarter of 2005 for its franchisees to build 19 new IHOP restaurants over the next five-and-a-half years. Developments are planned for Colorado, Georgia, Illinois, New York, North Carolina, South Carolina, Texas, Virginia and Washington. Seven other new IHOP restaurants have been initiated into development by other franchisees with established agreements. There are signed or optioned contracts in the fourth-quarter of 2005 for franchisees to develop a total of 377 new IHOP restaurants over the next 11 years. The corporation is finalizing other agreements for additional development which could bring the total number to 419 restaurants. In the last quarter of 2005, franchisees and area licensee opened 25 new IHOP restaurants up from the 19 restaurants opened in the fourth-quarter of 2004.
