Construction of a 225-meter tall tower to replace the former Hotel Okura South Wing building in Roppongi will start in 2024, with completion scheduled for 2028.
570 total views, 2 views today
Righa Royal Hotel to be sold to Canadian fund
Osaka’s Rihga Royal Hotel will be acquired by BentallGreenOak (BGO), a Canadian real estate investment firm. Although the price was not disclosed, it is estimated to be somewhere around 50 billion Yen (approx. US$385 million). Operations by Royal Hotel are expected to continue post-sale.
1,228 total views, 12 views today
Japan’s luxury hotel market emerges from pandemic pause
The chances of picking up prime hotel or resort asset deals in Japan may be over as the industry swings back into full gear.
Major developer, Mitsui Fudosan, has reported that its revenue from hotel operations has recovered to around 90% of pre-pandemic levels. Demand from tourists from North America and Europe has been particularly strong, making up for the decline in business trips.
5,828 total views
ORIX to open luxury ryokan in Atami next winter
ORIX Real Estate Corporation is developing a luxury ryokan in Atami’s Izusan district, with the hotel scheduled to open next winter. Atami Izusan Karaku sits on a 6,100 sqm site overlooking Sagami Bay and a 7-minute drive from Atami Station.
752 total views
Luxury resort villa project planned for Atami
On December 16, Acao Spa & Resort announced plans for a 16 billion Yen (US$117 million) oceanfront luxury resort and artist colony in Atami.
1,262 total views, 2 views today
Expected rental yields on Tokyo real estate assets hit 23-year low
Investors are expecting lower rental yields from office and residential assets in Tokyo. According to the Japan Real Estate Institute’s investors survey published on November 2022, the expected rental yield on Class A office space in Tokyo’s Marunouchi and Otemachi district was 3.2% as of October 2022, down from a 3.3% expected yield in April.
1,244 total views
Daiwa sells resort hotel unit
On December 8, Daiwa House Industry announced the sale of its resort hotel business to G.K. Ebisu Resort. The sale price of the shares was 55.6 billion Yen (approx. US$407 million).
2,825 total views, 2 views today
Atami hotels sold to US fund
The landmark Hotel New Akao in Atami has been sold to Shirakami, an affiliated company of Fortress Investment Group. The sale is for Hotel Acao Annex (former Hotel New Akao) and Hotel Acao (former Royal Wing) and approximately 7% of Acao Spa & Resort’s landholdings.
1,098 total views
Ultra-luxury hotel for Torch Tower
On November 8, developers Mitsubishi Estate and Tokyo Century Corporation announced that Dorchester Collection will be operating an ultra-luxury hotel in the 390-meter tall Torch Tower near Tokyo Station. The hotelier is owned by the Brunei Investment Agency and operates The Beverly Hills Hotel, Plaza Athénée in Paris, and The Dorchester in London, to name a few.
1,532 total views, 2 views today
Mandarin Oriental Hotel coming to Takamatsu City
The Mandarin Oriental Hotel Group is planning to open a new hotel in Takamatsu City, according to Kyodo News. The opening is scheduled to coincide with the 2025 World Exposition to be held in Osaka.
1,325 total views, 2 views today