Hiramatsu

NTT Urban Development, the real estate development arm of the NTT communications group, is jointly developing several high-end hotels with restaurant and wedding planning company Hiramatsu.

Hiramatsu is known for their French and Italian restaurants, wedding planning, catering and wine businesses. In May 2015, they announced their foray into the hotel industry with the establishment of Hiramatsu Hotels & Resorts.

Meanwhile, NTT Urban Development has decided to pursue the development of hotels and resorts to cater to the explosive growth in the number of foreign tourists visiting Japan. On October 1, 2015, they established a hotel and resort division in their commercial department.

Hiramatsu have already announced the opening of three auberges (restaurant/inns) in Kashikojima (opening July 2016), Atami (opening September 2016), and Hakone (opening December 2016).

The luxury boutique hotels will have around 10 ~ 20 rooms each. The Kashikojima hotel will overlook Ago Bay and will feature local seafood, such as abalone and Japanese spiny lobster. It will have 8 guest suites. Revenue for this hotel is forecast to reach 240 million Yen (1.95 million USD) by the second year of operations.

Hiramatsu Kashikojima
Kashikojima. Land size: 14,256 sqm. Building size: 1,401 sqm.

The Atami hotel will be designed in the sukiya style commonly used in tea houses, but will also blend Japanese and European aesthetics. There will be 13 rooms. Revenue is forecast to be 500 million Yen (4 million USD) in the second year of operations.

Hiramatsu Atami
Atami. Land size: 11,079 sqm. Building size: 1,822 sqm.

Hiramatsu may invest around 3.2 billion Yen (26 million USD) in the Kachikojima and Atami hotels.

Room rates are expected to be around 50,000 ~ 60,000 Yen (400 ~ 490 USD) per person per night. They plan to target both domestic and international tourists, and hope that as many as 40% of their guests will be foreign tourists. The hotels may serve primarily French cuisine. 

Sources:
The Nikkei Shimbun, May 15, 2015.
Travel Voice, November 6, 2015.
NTT Urban Development News Release, November 4, 2015.

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