Weekly Hotel Industry Asia Pacific News Roundup from HVS
JHR is Acquiring Two Hotels Each in Okinawa and Tokyo for a Total of JPY 56.2 Billion
Japan-based Japan Hotel REIT Advisors Co., Ltd. (“JHR”), majority-owned by Singapore-based SC Capital Partners Pte. Ltd., revealed its acquisition of 4 residentialorcommercialproperties for a overall of JPY 56.2 billion. These consistof 2 full-service residentialorcommercialproperties in Okinawa and 2 in Shinjuku, Tokyo. The Okinawan residentialorcommercialproperties are the 352-key Okinawa Harborview Hotel, including 5 on-site dining alternatives and twelve conference spaces with a capability of up to 1,000 individuals, and the 448-key Southern Beach Hotel and Resort Okinawa, which uses 3 on-site dining alternatives, 2 swimming swimmingpools, and 7 conference areas for up to 520 individuals. These hotels were obtained for JPY 21.5 billion and JPY 16.2 billion, respectively. The Tokyo homes are the 75-key Mimaru Tokyo Shinjuku West and the 169-key Hotel Amanek Shinjuku-Kabukicho, gotten for JPY 9.7 billion and JPY 8.8 billion, respectively. The Okinawan deals are anticipated to close on 31st July, while the Tokyo deals will close on 12th July. The sellers of the residentialorcommercialproperties are concealed.
MRA Acquires the Randor Hotel Hiroshima Prestige in Hiroshima for JPY 2.58 Billion
Marubeni REIT Advisors Co., Ltd. (“MRA”), the property management business for Japan-based United Urban Investment Corporation (“United Urban”), gotten the ten-storey, 43-key Randor Hotel Hiroshima Prestige in Hiroshima, Japan, from an concealed seller for JPY 2.58 billion in early June2024 The residentialorcommercialproperty is situated a 5-minute walk from Hiroshima Station and is close to anumberof traveler areas, consistingof Hiroshima Castle and the Hiroshima City Museum of Contemporary Art.
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