Tokyu to sell five golf and ski resorts

On July 1, Tokyu Land Corporation announced the planned sale of five golf and ski resorts to several buyers, including a hotel operator. The sale price has not been made public. The sale is part of Tokyu’s ongoing revision of its resort business with the aim of improving capital efficiency. 

The four golf properties, including the Kansai Country Club in Kyoto Prefecture, will be sold to a subsidiary of hotel operator Resol Holdings, with the transfers to take place from February 2023 onwards. 

The fifth property, the Grandeco Snow Resort in Fukushima, will be sold to this July. The ski field covers 58 hectares with 10 courses and 5 lifts. It opened in 1992. The buyer has not been named but is said to be a domestic corporation that develops ski fields and resorts. Tokyu will end operations of the Urabandai Grandeco Tokyu Hotel in March 2023.

After this sale, Tokyu will own 15 golf courses and 7 ski resorts.

Source: Tokyu Land Corporation News Release, July 1, 2022.

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