The first Virgin-branded hotel has opened in Chicago’s Loop district in the 26-storey Old Dearborn Bank Building, originally designed by architecture firm Rapp and Rapp.

The Art Deco building, a Chicago landmark, offers 250 guestrooms in addition to four restaurants – three of which are set to open between February and April of this year. The property’s spa is opening in Q2 of 2015 and “will be a wellness lounge designed with beauty, comfort and mingling in mind,” according to the hotel’s website.

“It’s been a long-held dream to start beautiful, comfortable, fun hotels for guests and give them what they want and need while being gentle on their wallets,” said Richard Branson, Virgin Group founder.

The Virgin hotel brand’s concept revolves around eliminating fees and surcharges. Thus Virgin Hotels has eliminated early check-in fees, late check-out fees, room service delivery charges, business centre transactions “and other services that have caused frustration for travellers,” reads a statement by Virgin Hotels.

“It’s an exciting time for our team as we get to unveil our new approach to room design, service and entertainment within the hotel industry,” said Raul Leal, CEO of Virgin Hotels.

In terms of the bedroom design, all rooms are divided into two spaces by sliding doors, complete with a peephole. A large number of electricity outlets can be found by the bedside and Virgin Hotels is in the process of patenting an ergonomically-designed bed.

Original features of the building remain intact, including a 1920s oak cigar bar that serves as the hotel’s front desk. Ornate brass elevator doors and the original mail slot and chute that serves all floors has been preserved.

Virgin Hotels has plans to open a second location in Nashville in Q3 of 2016 and a third property in New York City in Q4 2017. Two additional locations will be announced by the end of 2016, with the brand hoping to have 20 locations by 2025.

In December 2014, Virgin also announced the launch of Virgin Cruises, partnering with global investment firm Bain Capital for the venture, intended to shake up the cruise industry.