graphic
News > Deals
Next: a Planet Holly. hotel
September 25, 1997: 1:35 p.m. ET

Theme restaurant chain in venture to buy New York's Hotel Pennsylvania
graphic
graphic graphic
graphic
NEW YORK (CNNfn) - First it was the New York Stock Exchange, and now Planet Hollywood has extended its reach to another part of the Big Apple.
     The theme restaurant chain, which earlier this week moved its stock listing (PHL) from the Nasdaq to the NYSE, said Thursday it has formed a joint venture to buy New York City's Hotel Pennsylvania for about $159 million.
     The hotel includes about 795,000 square feet on Manhattan's West Side opposite Madison Square Garden.
    
Hotel Pennsylvania

     Planet Hollywood International will team up with Vornado Realty Trust and Singapore's Hotel Properties Ltd. to acquire the property.
     The Hotel Pennsylvania will be refurbished as part of Planet Hollywood's plan to create a sports-themed hotel and entertainment complex at that location.
     The complex will fall under the company's Official All Star banner. Planet Hollywood already operates sports-themed restaurants under that name.Back to top
-- Randy Schultz

  RELATED STORIES

Planet hits the Big Board - Sept. 22, 1997
  RELATED SITES

Planet Hollywood - New York

Planet Hollywood - Barcelona

Note: Pages will open in a new browser window
External sites are not endorsed by CNNmoney




graphic

© 2009 Cable News Network. A Time Warner Company. All Rights Reserved. Terms under which this service is provided to you. Privacy Policy. Advertising Practices.
Live Quotes automatically refresh, but individual equities are delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET.
* : Time reflects local markets trading time. † - Intraday data delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. Disclaimer
Copyright © 2009 BigCharts.com Inc. All rights reserved. Please see our Terms of Use.
MarketWatch, the MarketWatch logo, and BigCharts are registered trademarks of MarketWatch, Inc.
Intraday data provided by Interactive Data Real-Time Services and subject to the Terms of Use.
Intraday data is at least 20-minutes delayed. All times are ET.
Historical, current end-of-day data, and splits data provided by Interactive Data Pricing and Reference Data.
Fundamental data provided by Morningstar, Inc..
SEC Filings data provided by Edgar Online Inc..
Earnings data provided by FactSet CallStreet, LLC.
Home | Contact Us | Advertise with Us | Corrections | Career Opportunities | Site Map
RSS | Email Delivery | Portfolio | Podcasts | Mobile | Widgets | User Preferences | Special Sections
| Magazine Customer Service | Download Fortune Lists | Reprints | Conferences | Business Leader Council