Virtual reality displays, such as head-mounted displays (HMD), afford us a superior spatial awareness by leveraging our vestibular and proprioceptive senses, as compared to traditional desktop displays. Since classical times, people have used memory palaces as a spatial mnemonic to help remember information by organizing it spatially and associating it with salient features in that environment. In this paper, we explore whether using virtual memory palaces in a head-mounted display with head-tracking (HMD condition) would allow a user to better recall information than when using a traditional desktop display with a mouse-based interaction (desktop condition). We found that virtual memory palaces in HMD condition provide a superior memory recall ability compared to the desktop condition. We believe this is a first step in using virtual environments for creating more memorable experiences that enhance productivity through better recall of large amounts of information organized using the idea of virtual memory palaces.