On May 11, the Toyo Keizai Online publication reported that China’s sovereign wealth fund is considering the sale of the landmark Meguro Gajoen hotel and office property in Tokyo.
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Luxury boutique hotel for Kumamoto
Ryugu, the Kumamoto Prefecture-based operator of Hotel Ryugu, is planning to open a luxury resort on Maejima Island.
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Takanawa Gateway City plans announced
On April 21, East Japan Railway Company (JR East) announced the construction plans for the area around the recently opened Takanawa Gateway Station. A total of four high-rises and one low-rise building will be completed by 2024 ~ 2025.
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Japan’s first hotel-condominium* to be built in Hakone
On April 8, The Sankei Building Company, Tokyu Land Corporation, and Relo Vacations announced a hotel-condominium project for the Sengokuhara district in Hakone. This is the first hotel-condominium project in Japan to utilize the Home-Sharing Business Act (aka the Minpaku law) introduced in June 2018.
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Hilton to open flagship-branded hotel in Kyoto
Earlier this month, Hilton announced the signing of an agreement with Tokyo Tatemono to open the first flagship-branded hotel in Kyoto in 2024. The Hilton Kyoto will be located in the Kawaramachi Sanjo district.
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Luxury ryokan to be built in Ginza
Hulic, a major real estate company, recently announced plans to redevelop a prominent corner block in Ginza into a luxury ryokan-style hotel with an opening scheduled for 2025.
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Metabolist hotel remains closed
A hotel by a famed metabolist architect on Sado Island, Niigata, looks to remain closed indefinitely. The Sado Grand Hotel was designed by Kiyonori Kikutake (1928 – 2011), one of the founders of the Metabolist architectural movement, and built in 1967.
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Multi-block redevelopment for eastern side of Shibuya Station
On March 24, Tokyo Tatemono announced that a city planning decision had been made for the Shibuya 2 Chome Project. Nicknamed the Shibuya Regeneration Project, it spans three large blocks just east of Shibuya Station, with a total lot size of 2.9 hectares.
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Historic 103-yr old hotel in Kobe sold
On March 7, Sanyo Electric Railway announced the sale of the historic former Maiko Hotel in Kobe City.
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Hyatt Regency Tokyo on the market for 100 billion Yen
On February 28, the Nikkei Shimbun newspaper reported that the Odakyu Electric Railway company is considering the sale of the Hyatt Regency Tokyo hotel. The total sale proceeds of the hotel, along with partial ownership of a neighboring office building, could be in the 100 billion Yen (approx. US$870 million) range. Several funds have already expressed interest.
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