Virgin announces hotel chain launch

The company said it was looking for four star properties of 150-400 guestrooms, in major North American cities.

“I’ve had great fun turning quite a lot of different industries on their heads and making sure those industries would never be the same because Virgin took them on,” said Sir Richard Branson.

Virgin plans to capitalize on its 25 years’ experience in the travel sector through leveraging its loyalty systems and reputation as “a leader in design and hospitality” in businesses ranging from airlines to fitness clubs to super luxury retreats.

Cities on Virgin Hotels’ target list include major urban markets in North America (e.g. New York, San Francisco, Miami, Los Angeles, Boston, Washington DC). Although the initial focus is on North America, its longer term ambitions are global.

“We are keen to discover a range of interesting, authentic and high quality 150–400 room properties in appealing neighborhoods that will meet the expectations of travelers in the “creative class” — a culture and mindset that represent the values of our target guests.

The company promised a flexible approach to working with partners, operating as a third party manager, partner with ownership, or acquiring properties directly. To this end, Virgin Group has established a property venture with entrepreneur Alberto Beeck and hospitality and real estate investor Diego Lowenstein. The venture aims to acquire up to $500M in properties over the next three years.

The hotels will feature “contemporary style and functionality, an efficient yet personalized experience, ample communal space and a signature restaurant.” Communal spaces will build on the model established by Virgin Clubhouses around the world.

www.virginhotels.com