ORLANDO-The 103-unit Hard Rock Café chain is making money but profits are declining at its London-based parent, Rank Group PLC.

Hard Rock posted six-month sales of $200.4 million, up 5% from the comparable 1999 period. Rank Group had total revenue of $1.25 billion, up 10% from the same period last year, but wound up with profits of $61.9 million, down from $118.36 million in the first half of 1999.

Rank feels its profit picture will improve in the next quarter because it no longer has a 50% stake in Universal Studios Orlando which is in the red. Rank sold its stock in Universal in June.

Hard Rock has restaurants in 38 countries. The company owns 55 cafes; 48 are franchised. The chain’s flagship unit is the 140,000-sf Orlando location.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.