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Virgin Hotels to Acquire Luxury Properties in Key U.S. Cities

British billionaire Richard Branson is looking to expand his Virgin Group into the luxury hotel sector in North America.


September 27, 2010

Old U.S. Mint, in San Francisco, a city targeted by Virgin Hotels.

Old U.S. Mint, in San Francisco, one of the U.S. cities targeted by Virgin Hotels for its North American launch.

British billionaire Richard Branson is looking to expand his Virgin Group into the luxury hotel sector in North America.

A provider of services ranging from mobile phones and music to air transportation, Branson now wants to enter the competitive hotel market, according to Agence France-Presse.

According to its website, Virgin Hotels aims to acquire up to $500-million dollars in properties in a number of top U.S. destinations favoured by meeting and event planners, including New York, San Francisco, Los Angeles, Boston, Washington, D.C., and Miami, during the next three years.

“We are keen to discover a range of interesting, authentic and high quality, 150- to 400-room properties in appealing neighborhoods,” says the website.

“Our ambitions are global, but as a first move, we are focusing on North America,” notes the site.

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