Restauranteur planning big expansion into luxury hotel business

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Hiramatsu, a famous French and Italian restauranteur, announced bold plans for their newly created hotel brand.

In July, they opened The Hiramatsu Hotels & Resorts Kashikojima in Mie Prefecture. The small-luxury resort has just 8 guest suites and is targeted towards wealthy individuals with a net worth of over 100 million Yen. Room rates, which include meals prepared by renowned chefs, range from 65,000 ~ 80,000 Yen/night (640 ~ 790 USD) per person. The hotel was fully booked for the months of July and August, and reservations for 2017 are already starting to fill up. Currently the restaurant in the resort is only open to hotel guests, although they are considering opening it up to non-guest bookings.

Utilising their network of food suppliers and with a focus on sourcing local produce, the combination of fine dining and luxury accommodation sets the hotel apart from its nearby competitors.

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The Hiramatsu Hotels & Resorts Kashikojima

At the end of this month, their second resort – a 13-suite luxury hotel on a hectare of land in Atami – is scheduled to open. Their third resort in Hakone’s Sengokuhara area is scheduled to open in late December. The Hakone property will have 17 suites and be on a 6,600 square meter block of land.

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The Hiramatsu Hotels & Resorts Atami is located 3 kilometres south of Atami Station and overlooking Sagami Bay. It was the site of the former Apex guesthouse. The generously sized suites range form 57 ~ 164 square meters and room rates range from 87,000 ~ 212,000 Yen/night (860 ~ 2,090,USD) for two guests.

They are also developing a resort on a 23,000 square meter site in Ginoza, Okinawa in mid-2018.

Hiramatsu is planning to open 15 ~ 20 small-luxury hotels each with around 12 guest suites over the coming years, before branching out into larger resort hotels with around 50 rooms or more. They are aiming for hotel revenues to reach 30 billion Yen (approx. 296 million USD) over the next 10 years.

Hiramatsu’s entrance into the small-luxury hotel market is going to further add to the strong competition for ryokan and resort development sites across the country. Other strong players include Hoshino Resorts and HULIC who have both been aggressively seeking and acquiring properties.

Hiramatsu opened in 1982 as a French restaurant in Nishiazabu, Tokyo. The restaurant group now operates numerous restaurants and wedding function facilities across Japan as well as a flagship restaurant in Paris.

Source: TravelVision, August 29, 2016.