Mitsui Fudosan Co. has entered into an agreement with hotel operator Bvlgari. JLL Hotels & Hospitality Group has advised on the contract negotiation process on behalf of the owner.
The first Bvlgari hotel in Japan, Bvlgari Hotel Tokyo, will be fully integrated into a large-scale, mixed-use development to be located at Tokyo Station, one of Japan’s most prestigious business districts.
“In line with the Japanese government’s efforts to improve Tokyo’s competitiveness and position as a global city, we have seen an increasing number of large-scale redevelopments comprising of luxury hotels, that adds significant premium value to these projects,” said Tomohiko Sawayanagi, international director, head of Japan, JLL Hotels & Hospitality Group. “Known for its reputation for Italian excellence and magnificent jewelry creations, the first Bvlgari-branded hotel is uniquely different from the existing and upcoming luxury hotels in Tokyo.”
Scheduled to open at the end of 2022, the hotel will occupy the top seven floors (levels 39 to 45) of an ultra-skyscraper planned for construction in the Yaesu 2-Chome North District, as part of the redevelopment project plan approved by the Tokyo Metropolitan Government in January this year.
“Tokyo has recorded strong year-on-year growth of inbound visitors in 2017 and this positive performance is expected to continue. With the surge in tourism, Tokyo will start seeing an increase in luxury hotel developments like this,” added Sawayanagi.
