They haven't explained what the 'B' stands for yet, so any guesses? The top assumptions so far are breakfast, biscuits, or bacon.
IHOP/IHOB says the decision to change the name is because they say "We're serious about the quality of food and our menu, and this name change really reflects that." No telling how it reflects that yet, since we won't find out what the new name means until June 11th.
Check out what they tweeted to make the announcement below, and see a couple more social posts from them leading up to the big change!!