Dine Brands Inks IHOP Restaurant Franchisee Deal In Western Saudi Arabia

Dine Brands Global Inc DIN is planning to launch new IHOP restaurants in the western Kingdom of Saudi Arabia (KSA).
The company plans five restaurant openings in Western Saudi Arabia over the next five years. It has entered into an agreement with IHOP Franchisee Ahmed Marashde.
The places for new locations include Jeddah, Mecca, Medina, and cities along the Red Sea coast, with the first location scheduled to open in Jeddah in early 2023.
The new IHOP locations will offer casual dining spaces for guests, and the menu includes IHOP's Pancakes, Breakfast Combos, Omelettes, Burgers, Hand-Crafted Melts, Burritos, and Bowls.
Price Action: DIN shares are trading higher by 4.01% at $69.71 on the last check Tuesday.