Stars celebrate Planet Hollywood comeback: from the phenomenon to a billion dollar grave-and back?

From the phenomenon to the million grave – and back? The Planet Hollywood restaurant chain, popular in the 1990s, celebrated its reopening in New York with great star bid. In Manhattan, Hollywood greats such as Arnold Schwarzenegger (77), Whoopi Goldberg (69) and Alec Baldwin (66) look at the opening party on Tuesday evening (March 11).

“With the comeback of this restaurant, New York ‘can travel back to the future”, on the occasion of this event. But why had the restaurant chain disappeared from general memory in the past 20 years? A look back at the rise and decline of Planet Hollywood.

When Planet Hollywood’s first branch was opened in New York City in 1991, the concept of founder Robert Earl (73) quickly developed into a popular crowd puller. Earl had previously managed the business of the hard rock café chain as President and CEO and experience with such business models.

Thema restaurants such as the Hard Rock Café or the Rainforest Café were extremely popular in the 1990s and not only offered customers a meal, but also an unforgettable experience. With Planet Hollywood, Earl relied on a completely new combination of food, entertainment and Hollywood glamor at the beginning of the nineties. But he quickly had some stars on board.

At that time, the new restaurant chain was supported by well -known actors such as Bruce Willis (69), Demi Moore (62), Whoopi Goldberg, Sylvester Stallone (78) and Arnold Schwarzenegger. Earl made them of the company’s co -owners and in return they were present at the opening parties of new branches. Fans could hope for every visit to run into one of their big idols or to sniff a little Hollywood glamor at events in the restaurants with red carpet, stars and press.

The planet Hollywood branches with original props, costumes and other objects from popular Hollywood films were decorated. Each branch had a specially compiled collection – the most famous exhibits include, for example, the Delorean from “Back to the Future”, the lightsaber of Luke Skywalker from “Star Wars” or the iconic “Terminator” leather jacket by Arnold Schwarzenegger.

But the quick success made Planet Hollywood cocked. The restaurant chain expanded too quickly in the following years and opened many other branches worldwide – including three in Germany. If she still had a stock market value of three and a half billion US dollars in the mid-1990s, the chain got into economic difficulties in the following years and had to register bankruptcy in 1999 after losses in the double-digit million range had arisen.

The once such successful concept had proven to be unable to viable on a large scale (until 1999 around 95 branches in 31 countries). In addition, customers criticized the rather average meal, which also did not get better even due to the film props on display. Over time, there was apparently the commitment of the stars that were still committed at the beginning – and thus also an important part of the business idea.

Despite the bankruptcy, Planet Hollywood never completely disappeared from the gastronomy area. The chain is currently operating several restaurants and hotels worldwide at different points of view. In addition to the newly opened restaurant in New York, Planet Hollywood is also available in the Disney Springs shopping center in Orlando, Florida, at the airport in Los Angeles and in Doha, Qatar. The opening of a branch at Disneyland Resort in Hong Kong is also planned for 2025.

Apparently Planet Hollywood is to adapt more to the zeitgeist. For example, in the new restaurant branch in New York there are no longer memories from films on the walls, but instead high -resolution screens that take visitors into other worlds and show them films and music videos. “You can suddenly be in a beautiful forest or you are playing in an old cowboy city and Lil NAS. And then it goes on to Jelly Roll and then Taylor Swift,” explains founder Robert Earl in the “New York Post”.