Virgin Hotels set for growth after Hard Rock Las Vegas purchase

Virgin Hotels set for growth after Hard Rock Las Vegas purchase

Tuesday, April 3, 2018 Posted by Craig Davies
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Second such hotel falling under the Virgin banner

Richard Branson has announced the extension of one of the arms of his Virgin empire, through the purchase of the Hard Rock Hotel and Casino in Las Vegas.

With an overhaul scheduled to be taking place over the coming months, during which the property is to remain open, and costing hundred of millions of dollars, the future of some of the properties entertainment venues is as yet unclear.

The deal, completed with a group of partners including Los Angeles based investment firm Juniper Capital Partners, is also to retain its casino floor, which will be managed by a partner.

Speaking about the deal to the Virgin website, Branson explained: “When I’ve come to Vegas over the years my favourite casino has been the Hard Rock.

“It’s great to walk around and see memorabilia of Johnny Rotten, the Rolling Stones, Bowie and other Virgin bands plastered on the walls.

“It’s got delightful and dedicated people working there and it has beautiful outdoor swimming pool areas and beautiful rooms but through lack of investment it’s slightly tired.

“So I’m really proud today to announce Virgin Hotels has bought the Hard Rock Hotel and we’ll be bringing it back to its old glory again under the Virgin brand.

“Virgin Hotels opened their first hotel in Chicago and Condé Nast voted it the best hotel in America. They know how to look after customers and their people. With some beautiful design work they’ll bring that magic to the Hard Rock.

“Virgin Atlantic has flown to Vegas for years and it’s only a hop and a skip from the airport to the Hard Rock. Close by the hotel we have the Virgin Hyperloop One test site operating out in the desert, Virgin Orbit getting ready to send satellites into space and Virgin Galactic is gearing up for powered flight. An exciting part of America for Virgin and its wonderful people. Exciting times too.”

Totally Gaming says: This deal doesn’t just see a strategic extension of the Virgin hotel portfolio, but also of the firm’s commitment within the borders of the United States. With this step marking just the second such hotel under the Virgin banner, it could soon be joined by a host of others, with a number said to be planned across the US, as well as in Edinburgh, Scotland.

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