Who is Buying the Hard Rock?
February 24, 2006 | 8:42
am
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...


