The Hard Rock Hotel and Casino in Las Vegas will close for four months during the phased, eight-month-long renovation, according to Vital Vegas‘ Twitter page.
Hard Rock renovation to Virgin expected to start late summer or early fall. “Huge act” will perform at The Joint at the end of June, to be announced closer to Super Bowl.— Vital Vegas (@VitalVegas) December 20, 2018
Vital Vegas obtained the news from someone who attended the Hard Rock employee meeting Wednesday.
Ever since it was announced that the hotel/casino was purchased by Sir Richard Branson and J.C. Hospitality, it was known that the site would be renovated and rebranded as Virgin Hotels Las Vegas.
“I don’t think anybody expected that they would close completely for any period of time,” said Vital Vegas’ Scott Roeben. “It’s a very expensive proposition to do that. I think it shows how serious the new owners are in really doing it right and making sure everything is right before they launch.”
Virgin Hotels purchased the property with a group of partners, including Los Angeles-based investment firm Juniper Capital Partners. The terms of the purchase from Brookfield Asset Management were not disclosed.
“They’ve taken what sounds like a lot of steps to make that transition as painless as possible for the employees. It’s going to be painful anyway because it’s a disruption to their livelihood, but from day 1, the new managers have said we’re going to help you as much as we can both financially and in other ways.”
The only Virgin Hotel opened so far is in Chicago. Others are planned for several cities, including New York, Dallas, and Washington D.C.
EDITOR’S NOTE: A previous version of this story listed Brookfield Asset Management as one of the buyers. The story has been updated to reflect J.C. Hospitality was the buyer. Brookfield Asset Management was the seller.