From 60 to two restaurants: What happened to Planet Hollywood? These are the only two locations remaining

Planet Hollywood first opened its doors to the public on 22 October 1991, in New York City. Hollywood A-listers Demi Moore, Arnold Schwarzenegger, Sylvester Stallone, and Bruce Willis were on hand.

The movie-themed restaurant chain, whose locations were filled with authentic film memorabilia, quickly expanded around the United States and abroad. At its peak there were over 60 Planet Hollywood restaurants.

However, the chain hasn’t been able to replicate the success of other theme chains like the Hard Rock Café, which now has 165 restaurants worldwide, 25 hotels and 11 casinos. Planet Hollywood’s star has faded with only two restaurants and one hotel/casino left in the United States and one location in Doha.

Planet Hollywood’s shooting star

While Planet Hollywood locations attracted a lot of buzz at the outset, generating close to $15 million in their first year, they were also very expensive to open in the first place. This was a problem when foot traffic through the doors began to slow down and operating costs exceeded revenue.

That was due in part to the food being considered mediocre and overpriced. Also to the fact that celebrity sightings at the locations were few and far between, something that Hard Rock Café locations have less of a problem with as many of them host live concerts.

Planet Hollywood also faced increasing competition as more and more themed restaurants began popping up across the country.

The number of Planet Hollywood restaurants dwindles

The company ended up filing for bankruptcy in 1999, which whittled the number of locations down to 35. It filed for protection from creditors again in 2001 and most recently in April this year.

While the original New York City location closed in 2021, a new one was opened in Times Square in February this year. The only other restaurant is located in Disney Springs, Florida. Planet Hollywood also operates a casino and resort in Las Vegas, Nevada.

While those locations seem to be fairing well for the time being, there are currently no plans that have been announced about any expansion efforts in the United States.

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