New, hip Virgin Hotels has $500M for acquisitions

Virgin Group is getting into the hotel business, and with $500 million for acquisitions, Virgin Hotels is looking for “interesting, authentic and high quality 150-400 room properties in appealing neighborhoods” in U.S. cities as a starting point.

In a brochure [pdf] for prospective hotel partners who “fancy getting into bed with Virgin,” Virgin Hotels says its ambitions are global, but its first move will be to target North American cities such as New York, San Francisco, Miami, Los Angeles, Boston and Washington, D.C.

Virgin’s push into the hotel business — beyond Virgin Holidays + Hip Hotels – with its own new brand targets the “creative class,” namely “high income, well-educated metropolitan” travelers.

And, what kinds of new tech bells and whistles will properties in the Virgin Hotels fold feature?

It’s unclear for now, but Virgin Hotels teases property owners with a vow “to redefine the customer journey, from pre-arrival to check-out…”

“Our target guest is more than comfortable with technology and craves customization and efficiency — so our properties will provide simple yet intuitive systems to help them get the most out of their stay (both in-room and throughout communal spaces),” Virgin Hotels says.

Virgin Hotels has plenty of money in the kitty for acquisitions.

Virgin Group established a property venture with Alberto Beeck and Deigo Lowenstein with the goal of acquiring up to $500 million worth of properties within three years.

The president and chief operating officer of Virgin Hotels is Raul Leal, formerly the president of Desires Hotels, described as a lifestyles collection.

Will properties within the Virgin Hotels portfolio be able to put heads in beds?

Virgin Hotels says Richard Branson’s Virgin Group has 60 million customers, and Bloomberg BusinessWeek named it the fourth best-marketed brand in the world.

That just may do it.