Tokyu Fudosan Holdings has acquired the Kyu-Karuizawa Hotel for an undisclosed price at the end of March. The seller was an offshore company.

Tokyu is expanding into the luxury hotel market in anticipation of growing demand from foreign tourists. They are also planning to open a hotel in Okinawa in a joint venture with NTT Group. The Hyatt Regency Seragaki Island Okinawa is scheduled to open in mid-2018.

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