Harrah's Taking Over Planet Hollywood

[stacy123]

Harrah's entertainment is set to take over management of the Planet Hollywood Resorts hotel starting at midnight tonight. They are in the process of purchasing the property.

Harrah's is replacing Sheraton Operating Corp who currently manages the property.

Harrah's will not only be in control of managing the hotel but they will also be taking over the management of some of Planet Hollywood's food and beverage operations.

At this time, the rooms at Planet Hollywood's hotel will not be a part of Harrah's customer reward system.

Planet Hollywood will continue to operate it's casino.

Chairman and Chief Executive Officer of Hrrah's Entertainment, Gary Loveman says that they are still in conversations with Planet Hollywood and it's lender group to purchase the resort.

"We continue to work on a plan that would allow Harrah's to own and manage the entire casino-resort property," Loveman said in a statement. "In the meantime, we are pleased to take on the management of the Planet Hollywood hotel for the current owners."

[ClassyTouch]

I read about that. I wonder if they will change anything or leave as is? It will interesting to see.

I am glad they took it over instead of them closing it.