IHOP created quite a stir last week when it told Twitter users that it would be changing the last letter of its acronym from a "P" to a "b," teasing major changes for the brand.
However, the company won't be IHOb for long. On Monday, the company announced that the name change was just a promotion for its new line of burgers.
In an effort to rebrand its restaurants and lure in diners after the breakfast rush, IHOP is adding seven new burgers to its menu.
"Everyone knows that IHOP makes world-famous pancakes so we felt like the best way to convince them that we are as serious about our new line of Ultimate Steakburgers as we are about our pancakes, was to change our name to IHOb," Brad Haley, chief marketing officer of IHOP Restaurants, said in a statement.
The company changed its Twitter handle as well as the signage at its flagship location in Hollywood. However, in its most recent press release, IHOP noted that "IHOb" is a slogan of IHOP and the name change is just "for the time being."
While restaurants like IHOP are able to get customers through the door in the wee morning hours, keeping them coming after 11 a.m. has been a struggle.
Lunch represents 33 percent of total food service industry traffic, according to The NPD Group. However, lunch sales have been in a decline over the last few years, with more workers staying at the office and nibbling their midday meals at their desks.
IHOP has had burgers on its menu since it first opened in 1958, but its identity has long been tied to its wide variety of pancakes and breakfast offerings. Revamping its burger selection could convince customers to visit later in the day and for more than just hash browns and eggs.
IHOP is entering a highly competitive and crowded space with its new burger line. Burger chains are fighting for customer loyalty and are discounting their food, swapping out frozen patties for fresh beef, adding unique ingredients between the buns, and even catering to vegetarians and vegans with meat substitutes.
IHOP's line of burgers, in comparison, is pretty standard fare. New additions include a mushroom and Swiss topped burger, one with jalapenos and pepper jack cheese, and one covered in BBQ sauce and crispy onion rings.
Shares of IHOP's parent company Dine Brands were up more than 2.5 percent Monday. Dine Brands, which has a market cap of $1.2 billion, has seen its stock rise more than 44 percent over the past year.
The company also owns Applebee's, which struggled with sluggish sales last year as it was unable to lure in millennial diners. However, promotions like $1 margaritas and $1 Long Island Iced Teas have boosted traffic for the brand since October.