Rank’s Hard Rock Hotels and Resorts (HRHR) division has formed a 50:50 joint venture with international hotel operator, Sol Meliá to develop the Hard Rock Hotel concept throughout Europe and the Americas.

Under long term management or franchise agreements, the deal will develop a portfolio of hotels in both urban and resort locations. A team from HRHR will be responsible for the concept, design and branding of the hotels and the sourcing of contracts, whilst Sol’s responsibility will be the management of the new sites, including the sales, marketing and distribution operations.

HRHR will contribute to the joint venture the management contract for the 381-room Hard Rock Hotel scheduled to open in Chicago late this year, part of a total commitment by the group to supply contracts over 1,300 rooms in the US and Caribbean before the end of June 2006. Sol will contribute management contracts for a minimum of three hotels – to be located in Europe and the Americas – prior to the end of June 2007.

A separate agreement will see Becker Ventures – majority owner of the Hard Rock Hotel in Chicago – providing up to US$1bn to finance the development of the hotels to be managed by the joint venture. Becker will fund 50 per cent of all HRHR’s development costs up to US$1m per year.

HRHR currently has four hotels – in Orlando, Florida; Bali; Pattaya and Las Vegas. In addition to the Chicago development, work is also underway on hotels in Tampa and Hollywood. Both of the latter are linked to casino developments scheduled to open in the summer of next year.

Sol operates a total of over 350 hotels in 30 countries, under the Meliá, Tryp, Sol and Paradisus Resorts brands. Details: www.hardrockhotels.com