On March 7, Sanyo Electric Railway announced the sale of the historic former Maiko Hotel in Kobe City.
Settlement of the building and land is expected to take place on March 24. Details on the sale price and buyer have not been disclosed, but the railroad company is reporting an extraordinary gain of 6.74 billion Yen (approx. US$58.4 million) for its financial year ending March 2022, and a consolidated net profit of 5.7 billion Yen. This would be 14 times the net profit reported in 2021.
The European-style villa was built in 1919 as the guest house for industrialist Kyutaro Kusakabe (1871-1953). Kusakabe had amassed a fortune in the maritime industry and the house was built to entertain foreign guests and as a personal holiday home. The 3-story, white-brick Secession-style house has stained glass windows with nautical motifs, curved columns, wood paneling, and fireplaces. The land size is a little over 15,000 sqm and the building size is 2,083 sqm.
It has been chosen as one of the 100 Modern Houses of Hyogo. Sanyo acquired the home and land in 1963 and converted it into the Maiko Hotel. In recent years it had been used as the hotel restaurant and wedding reception facility but was closed in 2019 due to the age and deterioration of the building and decreasing customers.
Sanyo Electric Railway News Release, March 7, 2022.
The Kobe Shimbun, March 7, 2022.
The Nikkei Shimbun, March 8, 2022.
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