Virgin's Richard Branson Creates Iconic Hotel Brand

According to a USA Today

, Virgin Media's Billionaire head Richard Branson is looking to cut into the high-end hotel market. The first locations on the list are New York, Miami, and Los Angeles. Branson collaborated a partnership with other investors to form Virgin Hotels, which plans to spend as much as $500 million on luxury hotels over the next three years, reports Bloomberg. Virgin Hotels wants to transform larger properties with 150-400 rooms into hip retreats for "the high income, well-educated, metropolitan, creative class". Virgin seems to hope to compete with hotel chains such as The W and Kimpton. One of the headlines on Virgin Hotels' online brochure for developers is "Fancy getting into bed with a Virgin?" The hotels plan to be state of the art luxury. For example you may be able to

, book your room on Facebook, or another concept Branson might have up his sleeve. the online brochure adds, "Virgin Hotels expects to establish itself in the USA first in prime cities before eventually going global, the online brochure says." VMED is trading 1% higher today at $22.15 Get free trades at