Applebee’s, says franchisee Chris Dharod, continues to lean into its value proposition under its new president, Tony Moralejo.
A 30-year Applebee’s franchisee added to its portfolio with the recent purchase of 21 new restaurants in New York City.
Doherty Enterprises grew its portfolio of Applebee’s stores to 104 with the acquisition from Apple Metro. Doherty’s restaurants are in New York, Florida, New Jersey and Georgia. The company also owns Panera Bread and Chevys Fresh Mex stores, bringing its portfolio to more than 160 restaurants.
“We are close friends with the former owners of the Apple Metro group,” Doherty Chief Operating Officer Tim Doherty said. “It just made a world of sense when they decided that they wanted to exit the system and retire.”
Last year, the company signed a multi-unit deal with Jinya Ramen Bar to open 25 to 40 restaurants in New Jersey, Pennsylvania, Connecticut and New York. Doherty is anticipating a few stores opening this year.
Doherty said the 21 Applebee’s stores are doing “extremely well.” In fact, it’s business as usual at the New York City stores, he said. Doherty kept the team’s operators and management teams in place to keep things running smoothly through the ownership change. The company is also retaining the staff of about 1,100.
“I asked them to continue to do what you’re doing and over the course of time, Doherty will learn best practices from you and we’ll implement it across the entire Applebee’s group, and vice versa,” he said.
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Tim Doherty, president and COO of Doherty Enterprises.
Apple Metro owned 23 Applebee’s in the area, and owner Zane Tankel told The New York Post the two not sold to Doherty Enterprises will remain under his ownership. Those restaurants are in Times Square and in Staten Island. Tankel did not respond to Franchise Times’ request for comment.
The company is “truly excited” about what this deal means for Doherty Enterprises going forward, he said, which includes further expansion in the New York metro area.
This year New Jersey-based Doherty Enterprises is focusing on leveraging its presence in the metro, Doherty said.
“We know the real estate, we know the people, we know how to operate, how to exceed our guests’ expectations in our restaurants,” he said. “We’ll continue to leverage that expertise in the New York metro area.”
That includes growing its portfolio of Applebee’s and Panera stores, he said.
Applebee’s is owned and operated by Dine Brands, which also owns IHOP and Fuzzy’s Taco Shop.