About Hard Rock Hotels Panama City
Hard Rock Hotels are a group of hotels managed by globally recognized brand Hard Rock International for its live performance venues, memorable dining experience, and collectible music-related merchandise and fashion. The hotel chain started as Hard Rock Café in London in 1971 by shaggy-haired Americans Isaac Tigrett and Peter Morton London. The Seminole Tribe of Florida now owns it after a successful acquisition of its parent company in 2007. Hard Rock International’s headquarters was relocated to Davie, Florida in April 2018 from Orlando Florida. It currently operates 25 hotels, 12 casinos, and 185 cafes in 74 countries worldwide.
Among its most popular properties is the Hard Rock Hotel & Casino, Las Vegas where Morton spent $80m during its opening in 1995. Another $100m was allocated for its expansion in 1999, which almost doubled the capacity of the hotel. By 2006, the property, including the rights to several brand locations in Texas, Mississippi, California, Texas, Vancouver and Australia, were sold to Morgans Hotel Group for $770m.
Hard Rock Hotel & Casino, Las Vegas underwent another significant expansion amounting to $750m a year after. The meeting space was extended while its room capacity increased by another 875 rooms. The economic downturn during the global financial crisis, however, forced Morgans to surrender management rights to its partner Brookfield Asset Management in 2011. Just last year, Richard Branson acquired the property in Las Vegas intending to transform it under the Virgin Hotels Brand.
