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 - 21:00 GMT
Popular Holidays Browse all
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
Stay at the luxurious Dreams resort with various benefits including a room upgrade to make your holiday extra special
- Huge Savings when staying in Preferred Club rooms or suites
- Enjoy moonlit themed parties, great music shows and outdoor cinema screenings on the beach
- A wide choice of a la carte themed restaurants and chic bars ensure there is something to suit everyone
- The Explorer's Kids Club has a fully supervised children's programme with various different activities
Ideal for trendy couples - stay at a chic and sleek hotel in the heart of vibrant Havana and then Stay next to Cuba's famous Varadero beach
- Exclusive Couples offer - Welcome Cocktail, 1 hour free Wifi Access in Havana plus a bottle of wine on arrival, 30-minute massage and a Romantic Dinner in Varadero
- Book now and get a free upgrade to the sea view at Blau Varadero - limited availability
- Be swept away by the amazing views of Havana from Capri's rooftop pool
- Blau Vardero offers something for everyone with as little or as much as you want to do on offer including a spa
Indulge in the finer things in life at a luxury five-star retreat and enjoy rocking the night away
- The location on Cancun's tranquil southern shore, provides the perfect rejuivinating base for exploring Cancun.
- The resort is home to one of only two Jack Nicklaus Signature Golf Courses in Cancun.
- Enjoy the array of activities including surfing, golf, dolphin swims, tours, spa treatments and much more.
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...
Combine exploring the old dimes of Havana with a refreshing beach retreat in Vardero on an unforgettable twin centre...
Situated just minutes from the Bugibba promenade, Sunflower hotel enjoys an excellent location in the popular area of...
The Gloria Hotel & Apartments is a stunning suite and apartment hotel that is ideally located in the heart of Dubai. It...