Unique concept could enter market by way of Miami-based Lionstone Group.
Virgin Hotels could enter the Atlanta market by way of Miami-based Lionstone Development, according to BisNow.
Lionstone CEO Diego Lowenstein told the outlet that the Atlanta plans are preliminary and that exact locations have not been solidified yet.
The boutique concept was created by Sir Richard Branson of Virgin Group, and seeks to “bring back the fun” to the hospitality industry, with “no hidden fees.”
Some unique elements the brand features are early check-in and late check-out, hotel units that separate rooms into mini-suites, and mini-bars with no outrageous mark-ups.
The first Virgin Hotel location opened in a historic Art-Deco building in Chicago’s Loop neighborhood in 2015.
An element of the company’s business strategy at its inception was to acquire distressed real estate properties at low price points during the recent economic downturn, but banks decided to hold those types of assets until the market for them rebounded. As a result, the first Virgin Hotel took longer than expected to complete.
What do you think of the concept? Tell us below…
One Response
+5 years and only one hotel open, one almost under construction and the rest non-starters. What’s wrong with the Development team at Virgin? It’s a very strong brand, but no results. Maybe they should just license their brand to some competent operators like Lowes.