<$BlogRSDUrl$>

Wednesday, May 30, 2007


HARD ROCK'S END By LOIS WEISS - Business News | Financial | Business and Money 

HARD ROCK'S END By LOIS WEISS - Business News | Financial | Business and Money



There will be no Hard Rock Hotel in midtown Manhattan as was originally planned.



THE Hard Rock Hotel New York at 235 W. 46th St. is in contract to be sold to Walton Street Capital for approximately $200 million.


"This will be the end of the Hard Rock," confirmed a city spy. "The plan was to convert it, but it will never be done and it will remain the Paramount [Hotel]."


In 2004 we broke the news that a group that included Ian Schrager and the then Morgans Hotel Group had sold the Paramount to Becker Ventures and Hard Rock Café International for about $130 million with all the fixtures.

However, it was always expected that a multimillion-dollar conversion would take place to make the edifice a suitable rockin' memorabilia-ville. But that investment never occurred, and a venture with Sol Melia Hotels ended last fall even though reservations are still directed to its non-working link.


The chain, including the memorabilia, casinos, café and hotel brands were just sold to the Seminoles of Florida.

|




This page is powered by Blogger. Isn't yours?