LaSalle Investment Management has acquired “ibis Styles Tokyo Bay”. The transaction was made on behalf of LaSalle Asia Opportunity V, the fifth in the real estate investment manager’s flagship closed-end, pan-Asia opportunistic fund.
Located close to the Tokyo Disney Resort in Hinode, Urayasu City, Chiba Prefecture, the 216-room ibis Styles Tokyo Bay comprises eight floors above ground with a total floor space of 73,276 square feet. It is in an attractive tourist location that boasts excellent access to the theme parks around Maihama, with the nearest station, Shin-Urayasu Station, only a short 15-minute walk from the hotel.
The investment is anticipated to capitalize on rapid growth in inbound tourists to Japan over the next three to five years, supported by the increasing number of middle-income households in China and the rest of Asia region. In particular, hotels near major tourism attractions are expected to benefit from the trend the most, as visitors stay in and around key destinations.
Scheduled to open on July 2 this year, ibis Styles will be operated by AAPC Japan KK, the Japanese subsidiary of AccorHotels.
