US fund to acquire Ooedo Onsen Monogatari
Boston-based private investment firm Bain Capital announced the sale of Ooedo Onsen Monogatari to US fund Lone Star Group. The transfer of the management rights is expected to take place by the end of February.
Landmark hotel in Atami closes its doors
Atami’s Hotel New Akao closed its doors for good on December 17, ending 48 years of operations. With demand not expected to return in the near future and an aging building, the decision was made to shut down.
Construction starts on Nihonbashi high-rise
Construction has now started on a 52-story mixed-use development alongside Nihonbashi River. The 284-meter tall tower will include 100 luxury residences on the top four floors. A further 50 apartments will be included in the 7-story low-rise building alongside the river.
Hotel New Otani offering month-long stays for 2.8 million Yen
The Hotel New Otani in Tokyo is now offering long-term stays in their New Edo Residence rooms. So far, two former hotel rooms on the 21st floor in the Garden Tower have been refurbished and converted into a 77 sqm suite and a 55 sqm deluxe room.
Luxury hotels fill gap in Kyoto's high-end hospitality sector
With domestic tourism recovering, luxury hoteliers are focusing their attention on the historic city of Kyoto.
New hotel for Akasaka-Mitsuke
Mori Trust is planning a 26-story mixed-use hotel and office tower for the corner of the Akasaka-Mitsuke intersection in Tokyo. Construction is scheduled to start in August 2022 with completion expected by February 2025.
Modernist city hall priced too cheaply, critics say
The former Yokohama City Hall, designed by famed architect Togo Murano and built in 1959, is still awaiting a final decision regarding its fate with some arguing that it has been priced too low.