After being sold to the Virgin Group owner, Sir Richard Benson back in February 2018, the Hard Rock Hotel and Casino Las Vegas officials have stated that the facility will close its doors to the public during the process of rebranding which is set to begin this February. The facility will be rebranded as Virgin Hotels Las Vegas which will probably open its doors to visitors by the beginning of 2021. However, the reconstruction process may be completed even sooner.
As announced back in the spring of 2018, the twenty-four-year-old facility Hard Rock Hotel and Casino was sold to Virgin Hotels. The Virgin Hotels company was founded by the Virgin Group owner and founder, Sir Richard Benson back in October 2010. The story starts when Virgin Hotels purchased the Old Dearborn Bank Building located in Chicago for around $14 million from the Urban Street Group LLC.
Back in January of 2915, the very first Virgin Hotels-owned and operated hotel facility opened its doors. Four years later in February 2014, the company opened its second facility located in San Francisco very close to Yerba Buena Gardens. Since its beginnings, one of the major Virgin Hotels’ business plans was to acquire different properties across North American during the downturn. However, this business plan was stopped by banks which decided to hold these kinds of properties and real-estates until the real-estate market rebounds.
Purchasing Hard Rock Hotel and Casino Las Vegas
However, this did not stop Virgin Hotels from expanding across many other locations in the states. The company plans on building hotels in Nashville and New York. When it comes to its New York-located facility, the site is located near Broadway while its Nashville property is situated at One Music Row. The Virgin Hotels-owned, Dallas hotel is located near Downtown Dallas while the latest facility operated by the company opened its doors in San Francisco in February of 2019.
Moreover, the United Kingdom-based Virgin Group also owns other properties including casinos and luxury resorts among others. The company aims to have facilities in at least twenty locations by the end of 2025 while it hopes to have nine hotels across the United States by the end of 2020. When it comes to the purchase of the Hard Rock Hotel and Casino, it is planned to be both rebranded and renovated. The property is located on the corner of Paradise and Harmon Road.
Some of the main facility’s features include a massive hotel tower, casino floor, beach alongside a swimming pool, six restaurants, several cocktail lounges, a spa, poker room, retail stores, a massive music venue and much more. As reported recently, the facility earns more than thirty percent of its gross revenues from its gaming facilities which Virgin Hotels plans to renovate as well.
The most recent plans for the Las Vegas-based Hard Rock Hotel and Casino also include renovations of other areas including hotel rooms and restaurants. As it was reported, the renovations will probably take place this February. The owner also plans to temporarily close the facility for at least four months and to re-open sometime after the presidential campaign 2020.
The Official Statement by the Virgin Hotels’ CEO
Commenting on the news about temporarily closure of Hard Rock Hotel and Casino for rebranding, the Virgin Hotels’ CEO Richard Bosworth stated that the facility should re-open as Virgin Hotels Las Vegas in January of 2021 even though it may be ready sooner. He also stated that the renovation plans include investing around $200 in the facility’s nightlife, gaming, and dining areas.