Shangri-La buys land next to Nijo Castle

Good news coming out of Kyoto last week with word that Shangri-La Group has acquired a large development site on the northern side of Nijo Castle in Kyoto. The 4,700 sqm site is about 100 meters west of our restored machiya townhouse.

This could be home to the second Shangri-La Hotel in Japan. The first opened in Tokyo’s Marunouchi district in 2009.

The vacant lot was acquired by a Tokyo-based developer 2017 for an undisclosed amount. The previous owner had acquired it in 2013 with a 3 billion Yen revolving mortgage. Shangri-La had reportedly purchased the land via a special purpose company last month.

Kyoto has finally started to draw the attention of luxury accommodation providers. Other luxury international hotels in Kyoto include The Ritz Carlton Kyoto (2014), Four Seasons Hotel Kyoto (2016), Park Hyatt Kyoto (2019), and Aman Kyoto (2019). 

Location

Warayacho, Kamigyo-ku, Kyoto

Sources:
Kensetsu News, July 10, 2019.
The Nikkei Shimbun, July 11, 2019.

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