Mori Trust announced on November 25 that they had acquired the site of Hotel Rantei in Kyoto from Kyoto Century Hotel for an undisclosed sum.

The traditional Japanese-style hotel has been closed since January, 2010, but will undergo a full refurbishment before being re-opened as a luxury hotel by 2013 - 2014. Once it is opened, they hope to attract wealthy domestic and foreign tourists.

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