Virgin Hotels takes over Hard Rock Hotel and Casino in Las Vegas
The Hard Rock Hotel and Casino in Las Vegas is to be overhauled over the next several months after it was purchased by billionaire Richard Branson.
The Virgin Hotels founder and private partners said that they had bought the hotel-casino and that the side would continue to operate as part of the Hard Rock brand through 2019 and then would become Virgin Hotels Las Vegas.
Located in the Las Vegas Strip, the hotel is expected to undergo “hundreds of millions of dollars” worth of renovations” and will have around 1500 rooms and suites.
The 23-year -old property will also feature a 60,000-square-foot casino, swimming pools, new restaurants, lounges and bars and the Commons Club.
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"Las Vegas has long held a special place in my heart," said Sir Richard Branson, founder of the Virgin Group. "Virgin Atlantic and Virgin America have enjoyed flying to Las Vegas for years and I've always known that Virgin Hotels could thrive there as well. I'm really looking forward to painting the town Virgin red."
Virgin Hotels CEO Raul Leal added: "Las Vegas is a dynamic city – the people, the excitement, the entertainment. To me, it's always been the perfect city for our next Virgin Hotel.
“We are dedicated to delivering the best in design, entertainment, heartfelt service and culinary excellence and we can't wait to welcome visitors to what is sure to be an awe-inspiring Las Vegas experience.
Virgin Hotels purchased the property with a group of partners including Juniper Capital Partners, Fengate Real Asset Investments, Dream Hard Asset Alternatives Trust, Cowie Capital Partners and other private investors.
Branson is adding the hotel to the Virgin brand which also includes his airline and commercial space venture Virgin Galactic.