A Tokyo-based real estate company has purchased a historic restaurant in Otaru, Hokkaido, with plans to restore the 120+ year old building and develop a hotel on an adjoining lot.
Furniture company Nitori Holdings is entering the boutique hotel industry with the acquisition of a historic hot spring hotel in Hokkaido’s port city of Otaru. The sale price has not been disclosed.
Ginrinsou has long been considered one of Hokkaido’s leading onsen inns. The three-story ryokan sits on a prominent hilltop location overlooking Otaru’s port district and Ishikari Bay. An additional five-story concrete building was added to the ryokan at a cost of 400 million Yen, bringing the total floor space up to 3000 sqm. Nightly room rates at the 14-room ryokan are around 37,000 Yen per person.
A Sapporo-based real estate developer is planning a small luxury hotel within the grounds of a historic villa in Hokkaido’s Otaru City. The boutique hotel is scheduled to open in July 2017. It will be connected to the historic residence next-door which is operated as a restaurant.
A leading Chinese television production and distribution company recently announced that they will be developing a luxury resort condominium in Otaru, Hokkaido. The project will be marketed to wealthy Chinese.
HaiRun Movies & TV plan to build a 9-storey building containing 22 condominium apartments, a restaurant, pool, sauna, and party room. Each apartment will have its own private open air bath (rotenburo).