Planet Hollywood
Encyclopedia
Planet Hollywood, a restaurant inspired by the popular portrayal of Hollywood, was launched in New York
on October 22, 1991, with the backing of Hollywood stars Sylvester Stallone
, Bruce Willis
, Demi Moore
, and Arnold Schwarzenegger
.
Planet Hollywood was the brainchild of Robert Earl
, former President and CEO of Hard Rock Cafe
and Keith Barish, financier, real estate developer and film producer (Sophie’s Choice, The Fugitive, Running Man, Nine ½ weeks, Monster Squad). Planet Hollywoods were modeled after the Hard Rock formula. Earl recruited many former Hard Rock veterans to open new PH stores. Movie star "owners" received stock options at rock bottom price in exchange for their endorsement, thus they could be billed as legal owners.
In 1994, Planet Hollywood founded the Official All Star Café
sports-themed restaurant chain. In April 1996, Planet Hollywood went public. The company's share price reached all time high of $32 on the first day of trading and went down to less than $1 by 1999. The company has gone bankrupt twice. Nearly 100 stores have closed worldwide, leaving fewer than 20 Planet Hollywood restaurants currently open.
In 1997, Planet Hollywood entered a joint partnership with AMC Theaters to develop Planet Movies by AMC
. In 1998, Planet Hollywood entered the ice cream business when it launched Cool Planet. The business was scrapped later that year. Schwarzenegger severed his financial ties with the business in early 2000. Schwarzenegger said the company had not had the success he had hoped for, claiming he wanted to focus his attention on "new U.S. and global business ventures" and his movie career.
Marvel Mania Restaurant opened on February 18, 1998 near Universal Studios
, California with Marvel being a co-owner with Universal Studios Hollywoodand Planet Hollywood. However, Planet Hollywood had financial problems due to expanding too quickly and had to close Marvel Mania.
in Las Vegas
had its grand opening the weekend of November 16, 2007, in the remodeled Aladdin Hotel & Casino.
In addition, Planet Hollywood partnered with Westgate Resorts
on the new PH Towers A Westgate Resort, connected to the existing resort, which opened on January 1, 2010. The 52-story luxury vacation ownership and condominium tower includes over 1,200 units ranging in size from one to four bedrooms. The top four stories comprise 28 luxury condominiums ranging in size from 4000 to 10000 sq ft (371.6 to 929 ).
and Kuwait
will be opening soon.
New York
New York is a state in the Northeastern region of the United States. It is the nation's third most populous state. New York is bordered by New Jersey and Pennsylvania to the south, and by Connecticut, Massachusetts and Vermont to the east...
on October 22, 1991, with the backing of Hollywood stars Sylvester Stallone
Sylvester Stallone
Michael Sylvester Gardenzio Stallone , commonly known as Sylvester Stallone, and nicknamed Sly Stallone, is an American actor, filmmaker, screenwriter, film director and occasional painter. Stallone is known for his machismo and Hollywood action roles. Two of the notable characters he has portrayed...
, Bruce Willis
Bruce Willis
Walter Bruce Willis , better known as Bruce Willis, is an American actor, producer, and musician. His career began in television in the 1980s and has continued both in television and film since, including comedic, dramatic, and action roles...
, Demi Moore
Demi Moore
Demi Guynes Kutcher , known professionally as Demi Moore, is an American actress. After minor roles in film and a role in the soap opera General Hospital, Moore established her career in films such as St...
, and Arnold Schwarzenegger
Arnold Schwarzenegger
Arnold Alois Schwarzenegger is an Austrian-American former professional bodybuilder, actor, businessman, investor, and politician. Schwarzenegger served as the 38th Governor of California from 2003 until 2011....
.
History
Robert Earl (businessman)
Robert Ian Earl is the founder of the Planet Hollywood chain of fast-food restaurants and an Everton F.C. director.-Everton Football Club:On October 20 2006 Earl the sandwich king bought shares in Everton from major shareholders Paul and Anita Gregg, they resigned from the board following the sale....
, former President and CEO of Hard Rock Cafe
Hard Rock Cafe
Hard Rock Cafe is a chain of theme restaurants founded in 1971 by Americans Peter Morton & Isaac Tigrett. In 1979, the cafe began covering its walls with rock and roll memorabilia, a tradition which expanded to others in the chain. In 2006, Hard Rock was sold to the Seminole Tribe of Florida, and...
and Keith Barish, financier, real estate developer and film producer (Sophie’s Choice, The Fugitive, Running Man, Nine ½ weeks, Monster Squad). Planet Hollywoods were modeled after the Hard Rock formula. Earl recruited many former Hard Rock veterans to open new PH stores. Movie star "owners" received stock options at rock bottom price in exchange for their endorsement, thus they could be billed as legal owners.
In 1994, Planet Hollywood founded the Official All Star Café
Official All Star Café
The Official All Star Café was a chain of sports themed restaurants developed by Planet Hollywood. Planet Hollywood recruited Wayne Gretzky, Joe Montana, Shaquille O'Neal, Ken Griffey, Jr., Andre Agassi and Monica Seles to invest in the concept...
sports-themed restaurant chain. In April 1996, Planet Hollywood went public. The company's share price reached all time high of $32 on the first day of trading and went down to less than $1 by 1999. The company has gone bankrupt twice. Nearly 100 stores have closed worldwide, leaving fewer than 20 Planet Hollywood restaurants currently open.
In 1997, Planet Hollywood entered a joint partnership with AMC Theaters to develop Planet Movies by AMC
Planet Movies by AMC
Planet Movies by AMC was a joint-venture formed in 1997 between Planet Hollywood and AMC Theaters to develop entertainment properties surrounding AMC-operated megaplex theatres and Planet Hollywood-operated theme restaurants...
. In 1998, Planet Hollywood entered the ice cream business when it launched Cool Planet. The business was scrapped later that year. Schwarzenegger severed his financial ties with the business in early 2000. Schwarzenegger said the company had not had the success he had hoped for, claiming he wanted to focus his attention on "new U.S. and global business ventures" and his movie career.
Marvel Mania Restaurant opened on February 18, 1998 near Universal Studios
Universal Studios
Universal Pictures , a subsidiary of NBCUniversal, is one of the six major movie studios....
, California with Marvel being a co-owner with Universal Studios Hollywoodand Planet Hollywood. However, Planet Hollywood had financial problems due to expanding too quickly and had to close Marvel Mania.
Resort
Planet Hollywood Resort and CasinoPlanet Hollywood Resort and Casino
Planet Hollywood Las Vegas, previously known as The Aladdin, is a casino resort on the Las Vegas Strip, in the unincorporated locale of Paradise, Nevada, United States. Westgate Resorts operates the condo portion of the property, known as PH Towers by Westgate.Planet Hollywood is owned by Caesars...
in Las Vegas
Las Vegas Strip
The Las Vegas Strip is an approximately stretch of Las Vegas Boulevard in Clark County, Nevada; adjacent to, but outside the city limits of Las Vegas proper. The Strip lies within the unincorporated townships of Paradise and Winchester...
had its grand opening the weekend of November 16, 2007, in the remodeled Aladdin Hotel & Casino.
In addition, Planet Hollywood partnered with Westgate Resorts
Westgate Resorts
Westgate Resorts is a real estate company and timeshare company. The company began when David A. Siegel started Central Florida Investments , the parent company of Westgate Resorts, in the early 1970s, as a real estate development firm. The firm started out of David Siegel's garage, but has since...
on the new PH Towers A Westgate Resort, connected to the existing resort, which opened on January 1, 2010. The 52-story luxury vacation ownership and condominium tower includes over 1,200 units ranging in size from one to four bedrooms. The top four stories comprise 28 luxury condominiums ranging in size from 4000 to 10000 sq ft (371.6 to 929 ).
Locations
International
According to the official site, new branches in IndiaIndia
India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
and Kuwait
Kuwait
The State of Kuwait is a sovereign Arab state situated in the north-east of the Arabian Peninsula in Western Asia. It is bordered by Saudi Arabia to the south at Khafji, and Iraq to the north at Basra. It lies on the north-western shore of the Persian Gulf. The name Kuwait is derived from the...
will be opening soon.