Planet Hollywood, a theme restaurant inspired by the popular portrayal of Hollywood, was launched in New York on October 22, 1991, with the backing of Hollywood stars Sylvester Stallone, Bruce Willis, Demi Moore, and Arnold Schwarzenegger. Planet Hollywood was the brainchild of Robert Earl, former President and CEO of Hard Rock Cafe and Keith Barish, financier, real estate developer and film producer (Sophies Choice, The Fugitive, Running Man, Nine weeks, Monster Squad). Planet Hollywoods were modeled after the Hard Rock formula. Earl recruited many former Hard Rock veterans to open new PH stores. Movie star 'owners' received stock options at rock bottom price in exchange for their endorsement, thus they could be billed as legal owners. In 1994, Planet Hollywood founded the Official All Star Caf sports-themed restaurant chain. In April 1996, Planet Hollywood went public.