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Acquisitions & Hotel Openings

Virgin Hotels to Open and Operate New San Francisco Property Developed by Paradigm Hotels Group

MIAMI, FL. March 1, 2017 - Virgin Hotels, the lifestyle hotel brand by Virgin Group founder Sir Richard Branson, has announced plans to open and operate a new hotel in San Francisco, California. Expected to open in the Summer of 2017, the San Francisco property will be managed by Virgin Hotels and developed by Paradigm Hotels Group.

Virgin Hotels CEO Raul Leal commented, "San Francisco is a dynamic, forward-thinking city that embodies so much of what Virgin Hotels stands for, and is already home to many fans of the Virgin brand. As a top domestic and international travel hub for both business and leisure alike, San Francisco is an ideal location for our next Virgin Hotel."

Located South of Market just steps from Yerba Buena Gardens, Virgin Hotels San Francisco will feature 196 Chambers and Grand Chamber Suites; multiple dining and drinking outlets, including the brand's flagship space, The Commons Club; a coffee shop; numerous meeting spaces; and a rooftop bar.

"We're thrilled to partner with Virgin Hotels as it continues its expansion around the world," added Jay Singh, Owner of Paradigm Hotels Group. "Virgin Hotels is a brand that knows what travelers want and it's exciting to bring this specific level of service to San Francisco."

Virgin Hotels San Francisco is a new build located at 250 Fourth Street, serving as neighbor to many cultural attractions within the area, as well as the Moscone Center. The hotel will also be in close proximity to the new Central Subway Station, which upon opening in 2019 will connect South of Market with Union Square and Chinatown.

Virgin Hotels Chicago opened in 2015, and the brand recently announced plans to open additional properties in New Orleans, Silicon Valley, Nashville, and Palm Springs. Hotels in Dallas and New York City are currently under construction, slated to open in 2018 and 2019, respectively.

About Virgin Hotels

Virgin Hotels is a lifestyle hospitality brand that combines heartfelt service, straightforward value and a seamless, personalized hotel experience with the track record of innovation and smart disruption that Sir Richard Branson's global Virgin Group has pioneered for over 40 years. Each property will intermix a passion for food and beverage with music and culture, fusing with the local landscape and providing a vibrant and inclusive environment for travelers and locals alike. Virgin Hotels Chicago, which was named the "#1 Hotel in United States" by Conde Nast Traveler's Readers' Choice Awards 2016. Virgin Hotels Chicago is now open and accepting reservations at virginhotels.com, with Nashville, Dallas, Palm Springs, New Orleans, New York, Silicon Valley, and others to follow. Virgin Hotels continues to explore hotel and office conversions as well as ground-up development in cities such as Boston, Los Angeles, Miami, Austin, Seattle, Washington DC, and London.

Contact:
Amanda Caskey
amanda@thedooronline.com
646-340-1723

Coming Up In The December Online Hotel Business Review




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Feature Focus
Hotel Law: Issues & Events
There is not a single area of a hotel’s operation that isn’t touched by some aspect of the law. Hotels and management companies employ an army of lawyers to advise and, if necessary, litigate issues which arise in the course of conducting their business. These lawyers typically specialize in specific areas of the law – real estate, construction, development, leasing, liability, franchising, food & beverage, human resources, environmental, insurance, taxes and more. In addition, issues and events can occur within the industry that have a major impact on the whole, and can spur further legal activity. One event which is certain to cause repercussions is Marriott International’s acquisition of Starwood Hotels and Resorts Worldwide. This newly combined company is now the largest hotel company in the world, encompassing 30 hotel brands, 5,500 hotels under management, and 1.1 million hotel rooms worldwide. In the hospitality industry, scale is particularly important – the most profitable companies are those with the most rooms in the most locations. As a result, this mega- transaction is likely to provoke an increase in Mergers & Acquisitions industry-wide. Many experts believe other larger hotel companies will now join forces with smaller operators to avoid being outpaced in the market. Companies that had not previously considered consolidation are now more likely to do so. Another legal issue facing the industry is the regulation of alternative lodging companies such as Airbnb and other firms that offer private, short-term rentals. Cities like San Francisco, Los Angeles and Santa Monica are at the forefront of efforts to legalize and control short-term rentals. However, those cities are finding it’s much easier to adopt regulations on short-term rentals than it is to actually enforce them. The December issue of Hotel Business Review will examine these and other critical issues pertaining to hotel law and how some companies are adapting to them.