Virgin Hotels

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Virgin Hotels
Founded New York City, USA (2010 (2010))
Headquarters Miami, United States
Number of locations
1 (9 planned)
Key people
Raul Leal - CEO
Owner Virgin Group
Website virginhotels.com

Virgin Hotels is a brand of hotels created by Sir Richard Branson's Virgin Group, launched in 2010.[1] The current Virgin Hotels company, based in Miami, United States, is currently seeking hotel opportunities and is preparing its first hotels.[2]

History

In October 2011 Virgin Hotels bought the 27-story Old Dearborn Bank Building in the Loop area of Chicago for $14.8 million from Urban Street Group LLC.[3] On January 15, 2015 the first Virgin Hotel opened.[4] One element of Virgin Hotels' business plan was to acquire distressed properties in North America cheaply during the property downturn, but banks decided to hold distressed real-estate assets until the market for them rebounded rather than sell them so the company fell well behind its planned timetable.[5]

Development

Further hotels are being planned in New York City and Nashville.[6] The 300 room New York site will be located on the corner of 29th Street and Broadway.[7] The 240 room Nashville property is to be located at One Music Row.[6] The Dallas hotel, which began construction in 2017, is located in the Design District, near Downtown Dallas. The San Francisco hotel is currently under construction on 4th street.

The entrance at Virgin Hotels Chicago, the first Virgin Hotels hotel

The British-based Virgin Hotels Group Limited owns the Virgin Limited Edition portfolio of properties that include luxury resorts such as Necker Island.[8]

The group aims to have hotels in 20 locations by 2025.[4] When asked about the operation, Virgin's Richard Branson said "There won’t be hidden charges, and you won’t get charged $10 for a chocolate bar you know you can buy at a store for $2."[9] Branson has said the brand is geared toward the female business traveler.[10]

In January 2018, rumours arose regarding Virgin's early negotiations toward purchasing the Hard Rock Hotel and Casino in Las Vegas.[11] As of March 2018, Hard Rock Hotel and Casino is expected to be rebranded as Virgin Hotels Las Vegas by the end of 2019.[12]

Locations

Virgin Hotels anticipates it will have nine hotels, all in the United States, by 2020. In January 2018, Virgin Hotels announced its plan to unveil the first United Kingdom Virgin Hotel in Edinburgh, Scotland, expected to launch in 2020.

Current

Planned

Opening in 2019

  • Virgin Hotels Dallas (Dallas, Texas) (under construction)
  • Virgin Hotels Las Vegas (Las Vegas, Nevada) (Hard Rock Hotel & Casino)
  • Virgin Hotels Nashville (Nashville, Tennessee)
  • Virgin Hotels New Orleans (New Orleans, Louisiana)
  • Virgin Hotels New York City (New York, New York)
  • Virgin Hotels Silicon Valley (Silicon Valley, California)

Opening in 2020

  • Virgin Hotels Palm Springs (Palm Springs, California)
  • Virgin Hotels Edinburgh (Edinburgh, Scotland)[13]

References

  1. ^ "Virgin Hotels in deal with John Buck Co. to enter Chicago market". Chicago Real Estate Daily. 2011-10-24. Retrieved 2013-05-12.
  2. ^ "Virgin Hotels buys Old Dearborn Bank Building in East Loop". Chicago Tribune. 2011-10-24. Retrieved 2013-05-06.
  3. ^ "In brief: Franklin Center - 22 W. Washington - Virgin Hotels". Chicago Real Estate Daily. 2011-11-28. Retrieved 2013-05-12.
  4. ^ a b c http://www.ttgdigital.com/news/virgin-hotels-first-property-opens-in-chicago/4694905.article
  5. ^ Karmin, Craig (2014-04-20). "Richard Branson's Virgin Hotels Are Slow to Launch: Entrepreneur Plans a Third U.S. Hotel, but First Is Unfinished". The Wall Street Journal. Retrieved 2015-01-21.
  6. ^ a b "Virgin Hotels - coming to Nashville". Virgin Group. 20 April 2014. Retrieved 20 April 2014.
  7. ^ "Virgin Hotel to open in New York in 2016". USA Today. 4 June 2013. Retrieved 20 April 2014.
  8. ^ "About Us". Virgin Limited Edition. Retrieved 2013-05-12.
  9. ^ Earle-Levine, Julie (2015-01-13). "Richard Branson Enters the City Hotel Scene". The New York Times. Retrieved 2015-01-20.
  10. ^ Karmin, Craig (2015-01-13). "Richard Branson Pitches Virgin Hotels as Female-Friendly: First Property to Open in Chicago; Safety Features, Well-Lit Vanities Court Women". The Wall Street Journal. Retrieved 2015-01-20.
  11. ^ "Sources: Virgin Hotels could possibly buy Hard Rock in Las Vegas", by Nikki Bowers, Las Vegas Now
  12. ^ [1] "Sir Richard Branson on Virgin's Takeover of Hard Rock Vegas Hotel: It'll Be 'Tasteful, Fun'", by Andrea Bennett, Conde Nast Traveler.
  13. ^ "Richard Branson chooses Edinburgh for first UK Virgin hotel". www.scotsman.com. Retrieved 2018-02-02.

External links

  • Virgin Hotels
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