Luxury apartments and hotel planned for Yokohama high-rise
A high-rise tower containing luxury rental apartments and an internationally-branded hotel is set to open in Yokohama in 2027. On April 10, Sumitomo Realty & Development announced details of what’s planned to go in its 40-story mixed-use project located in the Kitanaka district near Bashamichi Station.Read more
Hiramatsu hotel portfolio sold to fund
On March 27, LoadStar Capital announced the formation of a special purpose company to acquire six luxury hotels from restaurant operator Hiramatsu and real estate developer NTT Urban Development Corporation.Read more
Hotel acquisition targets semiconductor factory staff
Kyoritsu Maintenance, an operator of hotels, aged-care, and student accommodations, is planning to acquire a 68-room resort hotel from Minamiaso Village in Kumamoto. The goal behind the purchase is to provide a hotel targeting the staff and family of the new semiconductor factories being built nearby.Read more
Domestic developer making moves in condo-hotel market
Daiwa House Industry plans to enter Japan’s relatively untapped hotel-condo market by 2026, according to the Nikkei Shimbun newspaper.Read more
Asakusa hotel on leasehold land sells at 65 million Yen per key
Despite being on leasehold land, this recently-built hotel in Asakusa sold last week for 65.5 million Yen per key (approx. US$460,000). The Nomura Real Estate Master Fund entered into an agreement to acquire the Mimaru Suites Tokyo Asakusa hotel on December 14 for 2.36 billion Yen (US$16.57 million) with delivery to take place in April 2024.Read more
Mandarin Oriental opening three boutique hotels in Setouchi
Japan’s island-filled Setouchi region will be home to three boutique Mandarin Oriental hotels between 2027 and 2030. Currently, the sole Mandarin Oriental hotel in Japan is located in Tokyo.Read more
Niseko hotel tax to max out at 2,000 Yen
On November 8, Niseko Town announced plans to introduce an incremental hotel tax that will be amongst some of the most expensive in Japan. The incremental tax will range from 200 ~ 2,000 Yen per person, per night and could be introduced as early as November 2024.Read more