Hotel in Nozawa Onsen takes heat for height
A high-rise hotel planned in the historic Nozawa Onsen village is causing a stir, according to a recent article in the Shinano Mainichi Shimbun newspaper. News of a 36-meter tall, 100-room hotel has sparked a debate on its scenic impact.Read more
REIT acquires two Mimaru hotels
ORIX JREIT is acquiring two serviced-apartment style hotels in Osaka and Kyoto for 7.85 billion Yen (approx. US$50 million). The price per key is 132.5 million Yen (US$840,000) for the Osaka hotel and 68.9 million Yen (US$440,000) for the Kyoto hotel.Read more
Hoshino REIT acquires KAI Poroto in Hokkaido
On January 8, Hoshino Resorts REIT acquired the Hoshino Resorts KAI Poroto hotel in Hokkaido for 3.06 billion Yen (approx. US$19.8 million). The 42-room luxury hot spring ryokan opened in March 2020.Read more
Shirahama beachfront onsen to go up for sale in January
A town-owned onsen hotel in Wakayama Prefecture’s Shirahama district will go up for sale next month, with an appraised value of just 7.6 million Yen (approx. US$50,000).Read more
Rents have doubled in this Hokkaido city
The real estate market in Chitose City, Hokkaido, is going through a sudden and drastic change with residential rents and land prices doubling and vacancy rates plummeting.Read more
Pullman Hotel announced for former Nakagin Capsule Tower site in Ginza
An interesting update for the site of the former Nakagin Capsule Tower building in Ginza, with the Pullman Tokyo Ginza hotel to be built in its place.Read more
Seto Island Sea chosen as location for Hilton’s second LXR hotel
Hilton is planning to open a luxury 60-room hotel on a waterfront site in Miyajima, Hiroshima, in 2028. Hirogin Holdings, parent company of Hiroshima Bank, and Hilton announced the project on December 4.Read more