Happy 61st birthday, IHOP. Here’s how the chain still rakes in billions

New York (CNN Business)IHOP celebrates its 61st birthday Tuesday, capping off a momentous year that introduced a fake name change and a new menu item. 1958 IHOP was founded by two brothers, Al and Jerry Lapin, who discovered “inspiration in the tropical tastes of coconut syrup and dreaming up the idea of a local restaurant centered around pancakes,” according to IHOP. The first restaurant opened in a suburb of Los Angeles. The company said IHOP was a popular hotspot for Hollywood stars, including Doris Day, Milton Berle and Jimmy Stewart. 1973 IHOP went by its full name, International House of Pancakes, until 1973. That’s when it began using its now-familiar acronym. 1978 IHOP restaurants were recognizable by their A-frame roofs. …