The presence of casual dining restaurant IHOP is set to expand exponentially in Puerto Rico with the opening of at least 15 locations in the next five years, at an investment of some $22.5 million, franchise executives said.

The chain already has five restaurants in Puerto Rico, with a sixth location slated to open by the end of this summer in the southern part of the island, said Humberto Rovira, CEO of Encanto Restaurants, which acquired the franchise rights in 2013.

Another restaurant will open in 2020 — each location entails an investment of about $1.5 million and creates 60 direct and 20 indirect jobs, he said.