REIT sells 302-room Osaka hotel for 7.75 billion Yen
Ichigo Hotel REIT has sold a 302-room hotel in Osaka to an unnamed buyer for 7.75 billion Yen (US$50 million), 2% more than the REIT paid for it eight years ago. The sale price works out to be around 25.66 million Yen per key.Read more
Tokyo developer buys site near Furano ski slopes
A Tokyo-based developer has acquired land near Furano’s Kitanomine ski slope with plans to develop a hotel or hotel-condominium.Read more
Over 50% of households in Tokyo will be single-occupants by 2050
By 2050, the share of single-occupant households in Tokyo is expected to reach a record high of 54.1%, according to the National Institute of Population and Social Security Research.Read more
Construction giant enters data center business
Construction giant Obayashi Corporation announced its entry into the urban data center market with the establishment of a new development and operational firm called MiTASUN.Read more
University acquires Hilltop Hotel
Meiji University has acquired the historic Yamanoue Hotel (Hilltop Hotel) adjoining its campus in central Tokyo. The university announced the acquisition on November 15.Read more
Kyoto hotel revenues increase while domestic guest numbers decline
According to the Kyoto City Tourism Association, the average operating ratio across the 109 hotels surveyed was 76.7% in September. This was a 1 point increase from last year but is 6.2 points below the level seen in 2019. The operating ratio for ryokan-style hotels was 70.7%, up 9.6 points from 2019.Read more
Lingerie company pondering sale of Omotesando building
Lingerie company Wacoal Holdings is looking to offload its non-core real estate assets, as reported by the Nikkei Shimbun. And one of those assets might be the Spiral Hall building in Minami Aoyama, according to publication, Seventie Two.Read more