
Hard Rock International is in negotiations with investors to raise $250 million to develop its lodging business, according to Bloomberg.
Bloomberg quotes Executive Vice President Michael Shindler: “We can go to cities that we feel are important to the strategic growth of the hotel platform...Without the capital, some of the deal opportunities that might come to us might not be precisely in the market that we want to be in.”Hard Rock wants to develop in 50 cities, including London, Paris, New York, Los Angeles, Dubai, Hong Kong, Beijing, Tokyo and Shanghai, Bloomberg reports.They continue to quote Mr. Shindler: “We are always looking to create a capital base where we have a little bit more control of our own destiny in terms of new transactions, acquisitions of hotels or investment in hotels.”