IHOP Corp. Reports Positive First Quarter 2008 Same-Store Sales Results for Its IHOP and Applebee's Businesses

GLENDALE, CA, Apr 10 (MARKET WIRE) --
IHOP Corp. (NYSE: IHP) ("the Company") today reported same-store sales results
for the first quarter ended March 31, 2008 for its wholly owned IHOP and
Applebee's business units. For the first quarter 2008, IHOP's system-wide
same-store sales increased 3.7%, and Applebee's system-wide domestic
same-store sales increased 0.5%.

Julia A. Stewart, IHOP Corp.'s chairman and chief executive officer, said,
"We
are pleased to report IHOP's 21st consecutive quarter of same-store sales growth
to
kick off the celebration of IHOP's 50th birthday this year. IHOP had a
strong first quarter 2008, primarily supported by our appealing limited-time
offers of All You Can Eat Pancakes and Shortcake Pancakes, a record-breaking
National Pancake Day, and our promotional tie-in with the animated film from
Twentieth Century Fox Animation, 'Dr. Seuss' Horton Hears a Who!.'

"During the quarter, we also made substantive progress toward
re-energizingthe Applebee's brand, producing the business's first quarter of
positive
same-store sales growth since the first quarter 2006. The primary drivers of
Applebee's results included an approximate 3% increase in pricing at
company-operated restaurants, a holiday gift card program that resulted in a
strong level of redemptions in the first few months of the year, and the
successful promotion of Applebee's Three-Course Classics and Ultimate
Triosmenu items. Additionally, at the beginning of March, we launched
Applebee's new
advertising campaign -- 'It's a Whole New Neighborhood' -- which is
resonating well with consumers and setting the stage for further improvements to
our marketing efforts throughout 2008," Stewart said.

IHOP's system-wide same-store sales increase of 3.7% for the first quarter
2008
reflected a higher average guest check and flat guest traffic as IHOP reversed
negative traffic trends experienced over the past year. As of March 31,
2008, there were 1,353 IHOP restaurants operating system-wide in 49 states,
Canada, Mexico and the U.S. Virgin Islands, 10 of which were company-operated
in IHOP's dedicated research and development market of Cincinnati, Ohio.

Applebee's system-wide domestic same-store sales for the first quarter
2008increased 0.5%. Domestic franchise restaurant same-store sales were flat
for
the first quarter 2008. Company restaurant same-store sales increased 2.1% for
the
first quarter 2008, which reflected a higher average guest check and declines
in guest traffic. As of March 31, 2008, there were 1,986 Applebee's
restaurants operating system-wide in 49 states, 17 international countries,
and one U.S. territory, of which 511 were company-owned.

IHOP Corp. reiterated its expectations of producing system-wide same-store
sales
growth at IHOP in the range of 2% to 4% for fiscal 2008, and system-wide
same-store sales growth at Applebee's in the range of 1% to 2% for fiscal
2008.

IHOP Corp. will release full first quarter 2008 results on Monday, April 28,
2008 before the market opens. The Company will host an investor conference call
to discuss its financial results on the same day, April 28, 2008 at 11:00
a.m. Eastern Time (8:00 a.m. Pacific Time). To participate on the call, please
dial
(888) 680-0878 and reference pass code 21919378.

About IHOP Corp.

Based in Glendale, California, IHOP Corp. franchises and operates
restaurants
under the International House of Pancakes, or IHOP, and the Applebee's
Neighborhood Grill & Bar brands. With more than 3,300 restaurants combined,
IHOP Corp. is the largest full-service restaurant company in the world. IHOP
Corp.'s common stock is listed on the NYSE under the symbol "IHP." For more
information on IHOP Corp., visit the Investor Relations section of the
Company's Web site located at 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, and include statements regarding the strategic and financial
benefits of the acquisition of Applebee's International, Inc., expectations
regarding integration and cost savings, and other financial guidance. 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: the
implementation of the Company's strategic growth plan; the availability of
suitable
locations and terms for the sites designated for development; the ability of
franchise developers to fulfill their commitments to build new restaurants in
the
numbers and time frames covered by their development agreements; legislation
andgovernment regulation including the ability to obtain satisfactory regulatory
approvals; risks associated with executing the Company's strategic plan for
Applebee's; risks associated with the Company's incurrence of significant
indebtedness to finance the acquisition; the failure to realize the synergies
and other perceived advantages resulting from the acquisition; costs and
potential
litigation associated with the acquisition; the ability to retain key
personnel after the acquisition; conditions beyond the Company's control such as
weather, natural disasters, disease outbreaks, epidemics or pandemics impacting
the
Company's customers or food supplies or acts of war or terrorism; availability
and
cost of materials and labor; cost and availability of capital; competition;
continuing
acceptance of the IHOP, International House of Pancakes and Applebee's brands
and concepts by guests and franchisees; the Company'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 the Company's news releases, public
statements and/or filings with the Securities and Exchange Commission,
especially the "Risk Factors" sections of Annual and Quarterly Reports on Forms
10-K and 10-Q, as well as releases, statements and SEC filings by Applebee's
International, Inc. prior to its acquisition by the Company. Forward-looking
information is provided by IHOP Corp. 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, the
Company disclaims any intent or obligation to update these forward-looking
statements.

Stacy Roughan
Director, Investor Relations
IHOP Corp.
818-637-3632

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