This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies.  Find out more here  Close
Hard Rock plans global hotel push
February 1 2013

The company’s Chairman Jim Allen said Hard Rock could triple its number of hotel properties during the next three to five years.

  • Hard Rock, which has approximately 20 hotels in its portfolio, is eyeing 25 to 50 markets for hotel development, Chairman Jim Allen said.
  • “We believe there is tremendous opportunity in Asia,” Allen said.
  • The company last month submitted an application to develop the Hard Rock Hotel & Casino New England in West Springfield, Massachusetts.
By Shawn A. Turner
HNN contributor

ORLANDO, Florida—Hard Rock International is pushing forward with its global growth initiative.

Hard Rock, which now has 18 properties in its portfolio, could triple that number over the next three to five years, Chairman Jim Allen told

Allen said in the United States alone there are between 25 and 50 markets that would make sense for a Hard Rock hotel. There are also between eight and 15 markets that could support a Hard Rock hotel/casino project. Hard Rock has 180 properties in its portfolio, including restaurant locations, and the company has intentions of bumping that number up to between 250 and 300 over three to five years.

Jim Allen
Hard Rock International

While the company will evaluate opportunities on a region-by-region basis, Allen said Hard Rock is looking to expand to U.S. markets including New York, Miami, northern New Jersey, Texas and Kentucky. In particular, Allen said the New York market seems to have absorbed supply well.

There are also opportunities to increase the number of Hard Rock properties worldwide, he said.

“We believe there is tremendous opportunity in Asia,” he said, adding that the company might also weigh growth in the Caribbean and South America.

Globally, Hard Rock has secured relationships with development partners in 58 countries, Allen said.

Massachusetts proposal
Hard Rock’s growth plans are evident in the company’s announcement last month that it submitted an application to the Massachusetts Gaming Commission for the proposed development of the Hard Rock Hotel & Casino New England in West Springfield, Massachusetts, an area about 90 miles outside of Boston. The project, which includes a 400- to 500-room hotel, is valued at between $700 million and $800 million.

Massachusetts passed a law in 2011 to allow three resort casinos to be built, one in each region of the state.

The 38-acre development site also would include a live music venue, a music memorabilia exhibition and a meeting facility, along with a 200,000-square-foot casino. It would take between 22 and 24 months to finish construction on the project if Hard Rock’s application is accepted, Allen said.

The densely populated market area and gaming’s proven success in Massachusetts drew Hard Rock to the project, he said.

Allen said financing the project shouldn’t present a problem for Hard Rock. “We have the ability to write the equity check ourselves,” he said.

He added: “We’re enjoying positive reception in the financial markets.” Still, financing overall for the industry is uneven and largely split into the haves and the have-nots, Allen said.

As for overall performance in the hotel industry, Allen views it the same as he does the supply outlook: It varies by market.

“We certainly see markets where (revenue per available room is) up—and up considerably,” he said.

Login or enter a name   Post Your Comment  Check to follow this thread via email alerts (must be logged in)
(4000 characters max)

Comments that include blatant advertisements or links to products or company websites will be removed to avoid instances of spam. Also, comments that include profanity, lewdness, personal attacks, solicitations or advertising, or other similarly inappropriate or offensive comments or material will be removed from the site. You are fully responsible for the content you post. The opinions expressed in comments do not necessarily reflect the opinions of Hotel News Now or its parent company, STR and its affiliated companies. Please report any violations to our editorial staff.

Industry CEOs’ opinions on Marriott/Starwood
Sharing economy might be in Choice’s future
Industry outlook: A crash or soft landing?
Modular construction and hotel design
Top CEOs: Both good, bad signs for hotels
Yotel: Owners see big return from small rooms
Global growth, ligher model in Loews' plan
Extended Stay America's Lopez, Part I
Extended Stay America's Lopez, Part II
ALIS 2016: LIIC members share opinions
Consultants share trends, advice for 2016
STR: Largest brands, companies by chain scale
Global growth, lighter model in Loews’ plans
Hotel Stock Index drops 12.1% in January
Energy roars at heart of unique Yas Viceroy
The history of F&B staples invented in hotels
Past threats offer insight into Zika’s impact
Contact Us
Hotel News Now
18500 Lake Rd.
Suite 310
Rocky River, Ohio 44116
Copyright © 2004 - 2016 Hotel News Now, a division of STR, Inc. All Rights Reserved.   Privacy