|Founded||October 22, 1991New York City, New York, USin|
|Founders|| Keith Barish |
Number of locations
|Subsidiaries||Planet Hollywood Resorts International, LLC|
Bodybuilding and business career
Planet Hollywood International Inc. (stylized as planet Hollywood, planet Hollywood observatory and ph) is a themed restaurant chain inspired by the popular portrayal of Hollywood. The company is owned by Earl Enterprises corporation. Earl Enterprises was founded by Robert Earl.
It was launched in New York City on October 22, 1991, with the backing of Hollywood stars Sylvester Stallone, Bruce Willis, Demi Moore, and Arnold Schwarzenegger. The actors recruited were paid for their appearances and endorsements through an employee stock ownership plan.Further celebrity endorsement included actors Whoopi Goldberg, Jean-Claude Van Damme, Don Johnson, Melanie Griffith, Tom Arnold, Wesley Snipes, and Danny Glover; director John Hughes; and comedian Roseanne Barr.
Robert Earl had a history of opening theme-restaurants first in Britain (1970s) and in Orlando, Florida. In 1987, he sold this restaurant group (President Entertainments; 70 restaurants) to a larger company, Pleasurama PLC.For Pleasurama, Earl acquired control of Hard Rock Cafe International (eastern rights company) from co-founder Isaac Tigrett then in 1989 named as chief executive of the company. At the end of 1989, Mecca Leisure acquired Pleasurama. Mecca was then purchased by the Rank Organisation in 1990. While expanding Hard Rock Cafe from seven to 20 locations over the next two years, Earl met Bryan Kestner, with whom he had a shared vision of music, movies, and sports transcending language and other barriers.
Planet Hollywood was opened in late 1991 in New York City,at the base of two adjacent office buildings at 130 and 140 West 57th Street. Arnold Schwarzenegger, Sylvester Stallone, Bruce Willis, Demi Moore and Whoopi Goldberg were some of the actors who became investors/promoters. By the next year, three more locations were opened: London, southern California, and Chicago. In 1993, the company opened two new locations, Washington, D.C., and Cancun, Mexico, while arranging leases for five new locations. Each new unit, opening with a gala event, generated nearly $15 million revenue in their first operational year.
With its success, the company continued its aggressive expansion plan in 1994 while turning its attention to developing more theme-restaurant concepts, one of which was the Official All Star Café, a sports version of Planet Hollywood. Given the go ahead, they started recruiting professional sports figures and planning its stadium and home cuisine menu and planning its merchandise.
The brand's highest-grossing location unit was opened in Las Vegas in 1994 with double the usual seating to 500. This was followed later in the year by another 500-seater at Walt Disney World.
With expansion operating smoothly, Earl started working on other area of growth in 1995. Construction on the All Star Café's first location in New York City began in August 1995 near the Planet Hollywoodand opened on December 18, 1995. Development was started on a Marvel Comics-based restaurant concept and on a Planet Hollywood Squares television game show with King World and Roseanne Barr's production company based on the Hollywood Squares. With the success of the merchandise, stand alone retail stores, Planet Hollywood Superstores were opened around 1996.
As of the May 1998 IPO circular, the celebrities were only minor holders of stock with Earl and Barish owning 57.2 percent and a 24.2 percent stake owned by Ong Beng Seng.In April 1996, Planet Hollywood went public on the New York Stock Exchange at $18 a share. The company's share price reached an all-time high of $32 on the first day of trading; by 1999, it was down to less than $1. The company has gone bankrupt twice. In addition to going public, the company had MBNA issue Planet Hollywood VISA credit cards that gave cardholders priority restaurant seating. Planet Hollywood International and ITT Corporation formed a joint venture for Planet Hollywood casinos. The corporation and Marvel Entertainment Group agreed to launch the Marvel Mania comic book character-based restaurant concept. The company also had started to develop Chefs of the World concept, which would feature a "'star-studded' culinary staff".
The company planned to expand by 30 to 40 percent each year in annual revenue and the number of restaurant locations. Additional competitors also started up, including Country Star chain, Harley-Davidson Café, Robert De Niro's Tribeca Grill and Thunder Roadhouse. Some speculated that the company had thinned its resources too much, and, with the trend of novelty location visits dropping, store revenue would continue to drop.
In September 1997, Planet Hollywood International Inc. announced its Cool Planet Cafe ice-cream shop chain which would open 10 locations in 1998.ITT Corporation and Planet Hollywood were in discussion early September 1997 for a Planet Hollywood hotel near Times Square. The corporation then formed on September 24, 1997, a joint venture for an Official All Star Hotel.
In the fourth quarter of 1997, the company recorded a $40 million loss. Too much focus on diversification showed that the original chain was neglected with mediocre food, high menu prices and below normal service.In early November 1998, Barish resigned as board chairman while retaining his board director post and filing to sell some of his company's stock. Earl replaced him as chairman. Barish was replaced by William Baumhauer as president. The franchise in Cape Town, South Africa, had a bomb attack in August 1998. $244 million in losses were recorded in 1998.
The first Marvel Mania opened in January 1998 near Universal Studios Hollywood.With MTV Networks, Planet Hollywood opened its first Sound Republic in London in mid-1998. In July 1999, the company started its Planet Movies by AMC. In August 1998, the first Cool Planet Cafe opened in Santa Monica, California.
In March 1999, Barish resigned as board director and sold shares that week.At a May, 1999, shareholder's annual meeting, the company indicated that a delayed-payment agreement was in negotiation and that they were renovating some and are considering closing other outlets.
Causing little change on the company's net profit/loss line, Baumhauer resigned in June, 1999, with the company having $359 million in debt on the booksto return to his previous employer, Unique Casual Restaurants. By July, 1999, Planet Hollywood had sold its Orlando HQ for cash and leased it back for 15 years. On October 12, 1999, the company filed for Chapter 11 bankruptcy in an attempt to reorganize. They closed or sold poorly performing Planet Hollywood restaurants and Official All Star Cafes. It moved to focus to its original theme concept, stopping operation of Planet Movies by AMC and sold its Sound Republic units.
Schwarzenegger severed his financial ties with the business in January, 2000.Planet Hollywood exited Chapter 11 bankruptcy on May 9, 2000, with the approval of its reorganization plan. New celebrities were sought out for their restaurants while renewing relationships with early recruits. The plan included capital and debt restructuring including a cash infusion plus new products and improvements to decor and the menu. Planet's first website was launched with entertainment news and chat rooms. Earl, Prince Al-Waleed bin Talal and Ong Beng Seng had led restructuring plan which left the company with 35 locations, 25 of which were franchised.
Barred due to its bankruptcy, Planet Hollywood International had relisted in May 2000 on the NASDAQ.In September, 2000, the Official All Star Cafe in Times Square was closed with the Planet Hollywood taking over its 600-seat location. While this All Star location was profitable, Planet Hollywood was more profitable. The company was also coming out of Chapter 11 bankruptcy.
In October, 2001, Planet Hollywood International filed again for Chapter 11 bankruptcy. Blaming the economic slowdown from the September 11 attacks, the company had $135 million in debt.
In July, 2010, Earl hired a CEO and president, David Crabtree, for Planet Hollywood and its parent company from Westgate Resorts.Planet Hollywood Resorts International, LLC signed on Wyndham Hotel Group to develop franchises for Planet Hollywood Resorts in September, 2010.
In September 2008, Planet Hollywood International Inc. acquired Buca, Inc., the owner of the Buca di Beppo national restaurant chain.
In August 1998, the Planet Hollywood restaurant in Cape Town, South Africa, was the target of a terrorist bombing killing two people. The perpetrators of the bombing stated it was in retaliation for American air-raids conducted in Sudan and Afghanistan.
As of February 2020 [update] , following the closure of several dozen locations, there are seven restaurants and four hotels operating:
|Products||Cool Planet Ice Cream|
|Owner||Planet Hollywood International|
Cool Planet Cafe is a joint venture chain of ice cream shops owned by Planet Hollywood International with a movie theme. Host Marriott Services is partnering on developing an additional 10 locations in a joint venture with Planet Hollywood.
Cool Planet Ice Cream,which was launched with its ice cream shops, was made by Dreyer's and was available in grocery stores with flavors like Blue Berry-More and Die-Hard Chocolate.
Planet Hollywood International founded the Cool Planet Cafe in September 1997 with the announcement of Whoopi Goldberg from the Planet Hollywood's star stable as the main promoter of the chain; its private label Cool Planet Ice Cream and planned to open 10 Cool Planets in 1998.The company then partnered with Marriott Services Corp. for the cafes in June 1998 with plans to open nine locations where Marriott already has operations with no locations finalized. Termi-Nutter sundaes was mentioned as being part of the menu.
In August 1998, the first Cool Planet Cafe opened in the Third Street Promenade retail district of Santa Monica, California. At that time, the Host Marriott joint venture had scheduled five locations to be opened by July 1999 and two more by December 1999.
This section is empty. You can help by adding to it. (June 2021)
Hard Rock Cafe, Inc. is a chain of theme restaurants founded in 1971 by Isaac Tigrett and Peter Morton in London. In 1979, the cafe began covering its walls with rock and roll memorabilia, a tradition which expanded to others in the chain. In 2007, Hard Rock Cafe International (USA), Inc. was sold to the Seminole Tribe of Florida and was headquartered in Orlando, Florida, until April 2018, when the corporate offices were relocated to Davie, Florida. As of July 2018, Hard Rock International has venues in 74 countries, including 185 cafes, 25 hotels, and 12 casinos.
Rainforest Cafe is a jungle themed restaurant chain owned by Landry's, Inc. of Houston. It was founded by Steven Schussler. The first location opened in the Mall of America in Bloomington, Minnesota, on February 3, 1994. By 1997, the chain consisted of six restaurants, all in the United States. The first international location opened in London, England in June 1997. In 1998, it was planned to build 12 additional restaurants in the United States, seven in Mexico, and five in the UK, for a total of 22 restaurants by 2008.
Universal Orlando Resort, commonly known as Universal Orlando or simply "Universal," formerly Universal Studios Escape, is an American theme park and entertainment resort complex based in Orlando, Florida. The resort is operated by Universal Parks & Resorts, a division of Comcast's NBCUniversal. Universal Orlando is the second-largest resort in Greater Orlando, after the Walt Disney World Resort which is nearby, covering 541 acres of land.
Disney Springs is an outdoor shopping, dining, and entertainment complex at the Walt Disney World Resort in Lake Buena Vista, Florida, near Orlando. The complex opened on March 22, 1975, and has been expanded and renamed over the years. In 2013, plans were announced for a three-year renovation and expansion of the complex, and on September 29, 2015, the name officially changed to Disney Springs.
ESPN Zone was a theme restaurant and entertainment center chain in the United States that included arcades, TV studios, and radio studios, operated by the Disney Regional Entertainment subsidiary of Walt Disney Parks and Resorts using the Disney-owned ESPN brand. While the ESPN Zone name is no longer used, similar, still-operating restaurants include the ESPN Club at Disney's BoardWalk Resort and the ESPN Grill at ESPN Wide World of Sports, both located within the Walt Disney World complex in Bay Lake, Florida.
Disney Village is a shopping, dining, and entertainment complex in Disneyland Paris, located in the town of Marne-la-Vallée, France. Originally named Festival Disney, it opened on April 12, 1992, covering an area of approximately 18,000 square metres (190,000 sq ft) inside what was then known as Euro Disney Resort.
Disney Parks, Experiences and Products, Inc., formerly Walt Disney Parks and Resorts Worldwide, Inc. and informally known as Disney Parks, is one of The Walt Disney Company's six major business segments and a subsidiary. It was founded on April 1, 1971, exactly six months before the opening of Magic Kingdom at Walt Disney World Resort in Bay Lake, Florida, just outside of Orlando.
Planet Hollywood Las Vegas is a casino hotel on the Las Vegas Strip in Paradise, Nevada. It is owned and operated by Caesars Entertainment. The property was previously the site of an earlier resort known as the Aladdin, which operated from 1962 to 1997. It was demolished in 1998, to make room for a new resort that would also be named Aladdin. The new Aladdin resort opened in August 2000, but suffered financial difficulties and was eventually purchased in 2003 by a partnership of Planet Hollywood and Starwood, which renamed it as Planet Hollywood in 2007.
Universal Studios Florida is a theme park located in Orlando, Florida. Primarily themed to movies, television, and other aspects of the entertainment industry, the park opened to the public on June 7, 1990. It is owned and operated by NBCUniversal and features numerous attractions and live shows. Universal Studios Florida was the first component of the larger Universal Orlando Resort to open, and it ranked ninth in the world and sixth in the U.S. among amusement parks for attendance in 2017, hosting an estimated 10.2 million visitors.
Bertucci's is an American chain of restaurants offering pizza and Italian food. It also offers delivery, take-out and private dining. Bertucci's was founded by Joey Crugnale in Davis Square, Somerville, Massachusetts, in 1981. The company expanded rapidly during the 1990s. Bertucci's locations are primarily found in the Northeast, but range as far south as Virginia. N.E. Restaurant Co. Inc. bought out Bertucci's in 1998, adopting the Bertucci's Co. name in 2001.
Robert Earl is a British-American businessman who is the founder and CEO of Planet Hollywood, Chairman of the Planet Hollywood Resort & Casino in Las Vegas, and host of Robert Earl's Be My Guest television program which airs weekly on the Cooking Channel.
Jimmy Buffett's Margaritaville is the name of a United States-based hospitality company that manages and franchises a casual dining American restaurant chain, a chain of stores selling Jimmy Buffett-themed merchandise, and casinos with lodging facilities.
Buca di Beppo is an American restaurant chain specializing in Italian-American food. The name roughly translates as "Joe's Basement" from Italian. The chain of 81 establishments is owned by Buca, Inc., which in turn is owned by Planet Hollywood.
Earl of Sandwich is a restaurant franchise based in Orlando, Florida, United States. It was founded by The 11th Earl of Sandwich, his younger son Hon. Orlando Montagu, and businessman Robert Earl, founder of Planet Hollywood.
Universal CityWalk is the name shared by the entertainment and retail districts located adjacent to the theme parks of Universal Parks & Resorts. CityWalk began as an expansion of Universal's first park, Universal Studios Hollywood, and serves as an entrance plaza from the parking lots to the theme parks. CityWalk can also be found at Universal Orlando Resort in Florida and Universal Studios Japan in Osaka, Japan.
Disney Regional Entertainment was the subsidiary of Walt Disney Parks and Resorts which developed and operated unique local entertainment concepts. It previously operated the Club Disney, DisneyQuest, and ESPN Zone chain entertainment concepts.
The Official All Star Cafe 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. Restaurants featured "stadium cuisine" and sales of professional sports merchandise and souvenirs.
Star Wars: Galaxy's Edge is a themed area inspired by the Star Wars franchise, located within Disneyland Park at the Disneyland Resort in Anaheim, California, and Disney's Hollywood Studios at the Walt Disney World Resort in Orlando, Florida. The area encompasses 14 acres (5.7 ha) at each park. Galaxy's Edge is set within the village of Black Spire Outpost, on the remote frontier planet of Batuu, and features attractions, shops, restaurants, and entertainment offerings.
|Wikimedia Commons has media related to Planet Hollywood .|