![]() ![]() ![]() Nation's Restaurant News reported, "The growth of Hard Rock Cafes has slowed, at least in the domestic markets." However, the company's consolidation under Rank management and its expanding interest in hotels and casinos indicate potential for strong growth. Rank purchased Morton's share for $410 million however, Morton is still active in the development of new Hard Rock enterprises, including hotels and casinos. The company is now held by the London-based Rank Organisation, but until 1996 functioned as two distinct corporations-one owned by Rank and one by cofounder Peter Morton. Hard Rock Cafes' 1997 sales totalled approximately $400 million. The highly charged and informal atmosphere is enhanced by displays of rock memorabilia and a reputation for attracting musicians and other celebrities. Hard Rock Cafe operates and franchises restaurants serving high-quality, moderately priced American-style food and beverages.The Hard Rock Cafe was part of the first wave of popular theme restaurants, focusing on the worldwide fascination with rock 'n roll and its celebrities. ![]()
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