Planet Hollywood International, Inc. is a theme restaurant inspired by the
popular portrayal of Hollywood and was launched in New York on October 22,
1991, with the backing of Hollywood stars Sylvester Stallone, Bruce Willis,
Demi Moore, and Arnold Schwarzenegger. Further celebrity endorsement included
actress Whoopi Goldberg, actor Don Johnson and his then-wife Melanie
Griffith, the late director John Hughes, comedienne Roseanne Barr, and actors Tom
Arnold, Wesley Snipes, and Danny Glover. History
Planet Hollywood was the idea of Bryan Kestner, a former actor who had some
small parts in movies produced by Taft-Barish. After approaching his
boss, Keith Barrish, Kestner suggested a theme restaurant modeled after Hard
Rock, which would instead feature movie memorabilia. His idea of calling it
"Cafe Hollyrock" was never used, instead Keith Barrish and Robert Earl, came up
with the actual name of "Planet Hollywood.". The similarity of the two
restaurants caused a lawsuit in which Hard Rock sued for $1.5 billion.
Although not successful, the similarities can be seen. Kestner
received minimal shares in the company for his idea, but it was actually Keith
Barish, financier, real estate developer and film producer[1] and Robert Earl,
former President and CEO of Hard Rock Cafe who took this idea and developed
Planet Hollywood. Kestner's involvement with development of the company was
limited to attending grand opening parties, which he was eventually asked
to not attend at Earl's prompting. After Planet Hollywood's filing of numerous
bankruptcies, Ketsner's shares were worthless and he had to file bankruptcy
as well. Still to this day, Kestner receives no money from the restaurant or
corporation. Furthermore, it was Earl who 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 Cafe 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 locations have closed worldwide,
leaving about 8 currently open. In 1997, Planet Hollywood entered a
joint partnership with AMC Theaters to establish and 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 opened on February 18, 1998 near Universal Studios Hollywood with
Marvel being a co-owner with Universal Studios Hollywood and Planet Hollywood.
However, Planet Hollywood had financial problems due to expanding too quickly
and had to close it. Planet Hollywood Resort and Casino in
Las Vegas had its grand opening the weekend of November 16, 2007, in the
remodeled Aladdin Hotel & Casino. 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 included over 1,200 1-4 bedroom units and a four story
penthouse of 28 luxury condominiums from 4,000 to 10,000 square feet. The
building is a key subject in the documentary film The Queen of
Versailles. The resort and casino were sold in 2010
to Caesars Entertainment, and the separate Towers project was sold to
Centerbridge Partners' Resort Finance Associates in 2011.
In September 2008 Buca, Inc., the owner of the Buca di beppo national restaurant
chain, was acquired by Planet Hollywood International Inc.
Restaurant locations = United States=
Las Vegas, The Forum Shops at Caesars, Nevada
New York, Times Square, New York Orlando, Disney Springs, Florida
= International= Disneyland Paris, Disney Village, France
London, Haymarket, England Niagara Falls, Falls Avenue, Canada
Resort locations = United States=
Las Vegas, Las Vegas Strip, Nevada = International=
Goa, Utorda Beach, India Merchandise stores
= United States= Las Vegas, The Forum Shops at Caesars,
Nevada New York, Times Square, New York
Orlando, Disney Springs, Florida Orlando, Disney's Hollywood Studios,
Florida = International=
London, Haymarket, England Niagara Falls, Falls Avenue, Canada
Disneyland Paris, Disney Village, France Former locations
= United States= = International=
See also = Theme restaurants=
Bubba Gump Shrimp Company Buca di Beppo
Rainforest Cafe T-Rex Cafe
= Former theme restaurants= Official All Star Cafe
Fashion Cafe References
External links Corporate home page