TA has reopened about 80% of its full-service restaurants after closing about 90% of them in 2020 because of the COVID-19 pandemic — and it feels good about the current momentum, Pertchik said during the call.
“We’re at the right place now in terms of [that] number,” he said.
For the new IHOP locations, TA is “negotiating the possibility of leasing some of them, where the operator will be the landlord,” Pertchik said. He noted that doing this would create a stable cash flow and mitigate risk from those locations.
