Who is Buying the Hard Rock?
08:42 AM PT, Feb 24 2006
Everybody in town wants to know who is closing in on buying the Hard Rock. Something is sure about to happen. Current owner Peter Morton has canceled the Hard Rock's $1 billion expansion that was to include exclusive condominiums and bungalows. And, one Hard Rock insider told me of the sale: "It's a done deal." But insider is a relative thing on this one; the person had no clue who the buyer might be. Norm guesses that the buyer will be someone who already has a strong local presence. I am leaning more toward the buyer being a relative outsider (though certainly with local partners). But it is safe to say one thing: I am not the buyer. The guesstimate value being bandied is $750 million and I was just telling a friend that there is no way I would go over $650 million for it. So, we will see...
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