One of the most successful entrepreneurs and billionaire, Sir Richard Branson, who is widely known for his Virgin brand, is now planning to expand his empire into the hospitality industry, with his proposed plans of building of building a brand new luxury hotel under the banner, Virgin Hotels. Mr. Branson has been one of the most prolific businessmen with acute sense of the markets and the latest trends.
Mr. Branson unveiled his plans at the inaugural flight of Virgin America’s new Canadian route, Los Angeles to Toronto. As of now, the details on the Virgin Hotels project are still under wraps, though Mr. Branson has stated that, a formal announcement will be made soon. The hospitality industry has witnessed a tremendous rebound since the global economic downturn of the year 2009 and even during the recession period, this highly lucrative vertical flourished, with a few exceptions. Now, with a host of luxury hotel brands already in place, it would be quite interesting to see the business model that Virgin Hotels acquire to give a stark competition to the already established luxury hotel big hitters.
According to Sir Richard Branson,
“It will be the hippest most comfortable new hotel in any city. Anyone’s who anybody will know to go there.”
Via Hotel Chatter