HULIC pays 60 billion Yen for Odaiba Hilton
Last December, real estate companies HULIC and Fuyo General Lease acquired the Hilton Tokyo Odaiba hotel for 60 billion Yen (approx. 552 million USD). The seller was US investment firm Elliott Management Corporation.
Aetos Capital acquired the hotel in 2007 from Japan Airlines for 25 billion Yen, before reselling it to Elliott. In 2015, Elliott transferred the operating rights to Hilton Worldwide and the hotel was renamed to Hilton Tokyo Odaiba.Read more
Shikoku Railway Co to develop guesthouses in Kyoto
Shikoku Railway Company (JR Shikoku) is planning to open traditional-style guesthouse accommodation in Kyoto to cater to the growing demand from foreign tourists.
Their first project is a group of three townhouses under construction on a 170 sqm block of land just south of Kyoto Station and 14 minute walk to Tofuku-ji Temple. The total project cost is estimated at 150 million Yen (approx. 1.4 million USD).Read more
Niseko's luxury hotel and villa boom continues
There is no end in sight to the current construction boom in the ski resort town of Niseko in Hokkaido, with a number of luxury resorts and private villas under development. Spacious homes and apartments can easily fetch upwards of several hundred million Yen (several million USD). Rising construction costs and a labor shortage, however, are putting a strain on developers.Read more
Sheraton to open in Kagoshima City in 2022
Nangoku Corporation, a general trading company located in Kagoshima City, announced that they have signed an agreement with Marriott International for a Sheraton-branded hotel to be built as part of a large redevelopment of a city block. This will be the 2nd Sheraton to open in Kagoshima Prefecture and the 10th in Japan.Read more
Imperial Hotel up for potential redevelopment?
A nearby acquisition by Mitsui Fudosan has some industry experts suggesting that the 1100-room Imperial Hotel near Hibiya Park in downtown Tokyo may be slated for future redevelopment.
The hotel includes the main building that was built in 1970 along with a 31-storey office/hotel building at the rear that was completed in 1983. By the time of the 2020 Summer Olympics, the main building will be 50 years old. With a booming tourism industry, many of Japan’s top hoteliers are expanding, refurbishing or redeveloping their older hotels.Read more
Japan’s first Hilton Curio Collection hotel to open in Karuizawa
Tokyu Land Corporation has entered into a franchise agreement with Hilton Hotels & Resorts to open Japan’s first Curio Collection by Hilton hotel in Karuizawa.
KYUKARUIZAWA KIKYO, Curio Collection by Hilton is the rebrand of the former Kyu-Karuizawa Hotel that was acquired by Tokyu in March 2017. It is scheduled to re-open in spring of 2018. The 39-year old hotel sits on a 5,800 sqm site located 1.2km north of Karuizawa Station. Almost 90% of the 50 rooms are over 40 sqm (430 sq ft) in size.Read more
Marriott to open W Hotel in Osaka in 2021
On January 10, Sekisui House and Marriott International announced plans for Japan’s first W Hotel. The 337-room W Osaka will open in the Shinsaibashi district in 2021. Room rates have yet to be decided, but it is expected that this will be one of the priciest hotels in Osaka city.
The building will be 117 meters tall with 27 floors and will be designed by Pritzker Prize-winning architect Tadao Ando.Read more