The temporary name change has brought some interest to the brand. Let's see if IHOP can turn around its series of unfortunate quarters with this all-beef attempt to bring people in beyond breakfast.
— Jason Clampet
Pancake restaurant IHOP’s marketing move to rebrand itself as IHOb — standing for burgers — comes at a time when beef prices are off their record highs.
Ground chuck prices, which spiked in 2015 to the highest on record, are down 14 percent from their peak as cattle supplies increase and prices ease, data from the Bureau of Labor Statistics show. With prices coming down, the chain restaurant formerly known as IHOP said it’s changing its name to highlight a renewed focus on the grilled American staple.
Dine Brands Global Inc.-owned IHOP captured the attention of the internet last week with a tweet announcing the coming name change. That led followers to speculate whether the “b” would stand for something close to its core brand, like breakfast or bacon, or whether it could be joining the blockchain naming phase.
“Right now, there is not a defined time for how long we’ll use the IHOb name,” spokeswoman Stephanie Peterson said in an email, calling it a “tongue-in-cheek” name change. “Based on fan demand, there’s the chance we may create more IHOb restaurants in the future.”
–With assistance from Megan Durisin.
©2018 Bloomberg L.P.
This article was written by Craig Giammona and Leslie Patton from Bloomberg and was legally licensed through the NewsCred publisher network. Please direct all licensing questions to firstname.lastname@example.org.
Read Skift Table for Essential News on the Business of Restaurants
Subscribe to our daily newsletter to follow industry trends, creativity, and innovation as we help define the future of dining out.
Quick Service Chains Win Big With Millennial Parents
2 hours ago
Quick service restaurants strategically invest heavily in TV and digital advertising, in efforts to push cheaper value meals than competitors and new menu items. It's safe to say, given NPD Group's data, that the strategy has worked. The question is how much lower can prices go before companies start shooting themselves in the foot?