Planet Hollywood International stock certificate 2001
Nice collectible with the company's simplified logo in color (upgraded from the previous year where it was black and white). Issued and not cancelled. Dated 2001.
Planet Hollywood International, Inc. is a theme restaurant inspired by the popular portrayal of Hollywood. It 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.
Planet Hollywood was the idea of Bryan Kestner, a former actor who had some small parts in movies produced by Taft-Barish. Kestner approached his boss, Keith Barish, with the idea of a theme restaurant modeled after Hard Rock Cafe, which would instead feature movie memorabilia. Barish was a financier, real estate developer and film producer, whose credits include Sophie's Choice, The Fugitive, The Running Man and 9½ Weeks. The similarity of the two restaurants led Hard Rock Cafe to sue Planet Hollywood's creators for $1.5 billion; the suit was not successful. After Planet Hollywood's filing of numerous bankruptcies, Ketsner's shares were worthless and he had to file bankruptcy as well.
In April 1996, Planet Hollywood went public. 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. 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 Ice Cream. 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.
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 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.