Richard Branson buys Hard Rock Casino and Hotel in Las Vegas for undisclosed sum
The hotel will continue to operate as part of the Hard Rock brand through 2019
Billionaire Richard Branson has revealed that he has bought the Hard Rock hotel and casino in Las Vegas. The hotel was purchased with a group of partners, including Los Angeles-based investment firm Juniper Capital Partners.
The hotel will continue to operate as part of the Hard Rock brand through 2019, according to an Associated Press report. It will then be renamed the Virgin Hotels Las Vegas.
The 1500-key hotel is expected to undergo expensive renovations over multiple phases, and it will remain open during the refurbishment phase.
The only Virgin Hotel is located in Chicago, it opened in 2015 after a string of delays. Announced in 2010, the four-star brand was originally intended to debut in the following year, although its opening date was then repeatedly pushed back.
“Virgin is all about fun, entertainment, not taking ourselves too seriously,” Branson said to Conde Nast Traveler. “Virgin Atlantic has had a lot of fun flying tons of people to Las Vegas from Britain for many years. Virgin America has done the same, and we wouldn’t have just come to Las Vegas unless we could’ve found the property that was very Virgin, and I think that’s what we’ve achieved.”