OVERLAND PARK, Kan. (AP) - Casual dining chain Applebee's International Inc. said Wednesday it has opened its first location in China.
The Shanghai restaurant, which began serving customers last month, melds the chain's typical menu with Chinese influences, developing such items as mango prawn salad, which uses Asia-specific ingredients such as lotus root and wasabi cream.
Applebee's already has 101 locations in 18 countries, but the Shanghai restaurant is the chain's first in Asia.
'Shanghai is an ideal location as Applebee's expands into Asia and continues to strategically grow the brand internationally,' said Rohan St. George, president of Applebee's international division, in a written statement.
China's exploding growth and growing middle class has provided a big market for U.S. restaurant companies. Yum Brands Inc.'s KFC, Taco Bell and Pizza Hut chains have thrived, and McDonald's, with 800 Chinese locations, is ramping up development.
Success in China would help alleviate some of the pain Applebee's is suffering back home as U.S. consumers, burdened by higher fuel and housing costs and seeking other dining choices, have declined spending in sit-down restaurants.
Those difficulties led Applebee's this summer to announce it was being sold to breakfast restaurant operator IHOP Corp. for $1.9 billion in cash. Shareholders are scheduled to vote Tuesday on whether to approve the sale.
Applebee's shares dropped 3 cents to $25.21 Wednesday.
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© 2007 AFX News
