Richard Branson to launch Virgin branded luxury hotels
Business tycoon and billionaire, Richard Branson, has decided to expand his Virgin brand by introducing luxury hotels to his collection which will appeal to younger and up-and-coming travellers in major cities in the United States.
Richard Branson is launching the Virgin brand into the business of luxury hotels with the opening of Virgin Hotels aimed at younger, up-and-coming travellers.
The British business tycoon and billionaire is the owner of the brand which comprises airlines, music, media channels, broadband, telecommunications, and even space travel.
Charles Quinn, from hotel investment advisory firm, CBRE Hotels, said the new hotel group will appeal to "the guys walking around with the shirt untucked and no ties, very similar to Mr. Branson. Virgin is a hip brand, no matter how you slice it."
As the travel industry recovers from the recent global recession, the timing seems to be right for the new venture into the luxury hotels industry in the United States.
Industry tracker, Smith Travel Research, says that the U.S hotel industry's revenue increased by eight per cent in August this year compared to the same time in 2009 and the average hotel rate increased 1.5 percent to $98.69 per night.
With these rising figures, luxury hotels are also benefiting from the economic turnaround. North American Vice President for Starwood Hotels, Carlos Becil, said: "As we have begun to recover from the economic downtown, luxury brands are enjoying the strongest revenue per available room of any segment."
Branson will be developing the new U.S hotels in major cities such as New York, Los Angeles and Chicago with the aim to buy up to $500million worth of properties with 150 to 400 rooms over the next three years.
Thompson Hotels' co-founder, Stephen Brandman, said: "Branson has all the capabilities of hitting a home run. However, it's not that easy. A recognized name doesn't necessarily ensure success."
Thompson runs hotels in New York, Los Angeles and Chicago and has recently opened its 10th hotel in Toronto, Canada. Brandman believes that the success of the new Virgin Hotels will depend on a number of factors including the location of the properties and the response from competitors.
Talk to a specialist
Call 020 7644 1770 to speak with our award-winning travel consultants.
Opening hours 09:00 - 20:00 GMT
Popular Holidays Browse all
Experience the exclusivity of Ras Al Khaimah from a luxury retreat at this stunning beachfront resort
Relax and unwind at this stunning resort without having to dig deep in your pocket.
- A fantastic all-inclusive programme with great the entertainment options including kids and teen club
- Luxury and comfortable accommodations with a spectacular views of the crystal blue Arabian Gulf
- Enjoy the secluded, glorious location on the beautiful, tranquil and pristine Marjan Island
Spend wonderful days exploring India's most iconic landmarks, diving deep into a world of wonder with a wealth of spectacular sights to discover
- Enjoy a traditional rickshaw ride in Old Delhi, see the majestic Taj Mahal in Agra, experience a feast to remember with a traditional Rajasthani family dinner in vibrant Jaipur and much more
- Includes entrance fees at all monuments as per the itinerary
- An English-Speaking local Guide will take you around the sightseeing & excursion tours as per the itinerary
Stay close to all the action in a fabulous resort that's part of a beautiful ecological reserve and sits right next to Xcaret, Cancun's number one theme park.
- Exclusive discount to the eco-archaeological Xcaret Park
- Enjoy access to 11 Restaurants and 10 Bars & access to 5 Swimming Pools
- Limitless all-inclusive fun and thrills for everyone in a beautiful eco-reserve facing a glorious beach
Do the castaway experience in style and live your Robinson Crusoe dream
- Lose yourself in over 3 km of pristine beaches and aquamarine lagoons
- Beautiful bungalows nestled in the tropical gardens or on the beach, right over the lagoon
- Sample mouth-watering delights at a wide selection of dining options from flavours of the Orient to Mediterranean delights
One of the most sought-after locations in the magical city of Dubai is the artificial island of Jumeirah. Enjoy the...
Varadero is a showpiece of Cuba's natural beauty; stunning white beaches, turquoise waters and clusters of lofty palm...
Get the best of Havana and Varadero with this fabulous combination of city and beach in two of Cuba's finest hotels, the...
Situated just minutes from the Bugibba promenade, Sunflower hotel enjoys an excellent location in the popular area of...
The 4* Ramada Deira hotel boasts comfortable, modern and grand interiors and facilities, as well as easy access to the...
Located in the city centre business district, the DoubleTree by Hilton Ras Al Khaimah combines stylish accommodation and...