Record Japan hotel portfolio deal closes
Hoshino Resort has purchased four ANA Crowne Plaza hotels in Hiroshima, Fukuoka, Kanazawa and Toyama in Japan. The sales price was $326.5 million.
The sale is recognized as one of the largest hotel portfolio transactions in Asia this year. Savills acted as the exclusive agent for the owner. Real Capital Analytics lists Morgan Stanley as the seller.
The portfolio consists of ANA Crowne Plaza Hotels in Hiroshima, Fukuoka, Kanazawa and Toyama, totaling 1,234 rooms.
Currently they are managed by IHG ANA Hotels Group Japan LLC, a joint venture between IHG and ANA (All Nippon Airways), under the ANA Crowne Plaza brand. After the acquisition, the operation of the hotels will continue to be entrusted to IHG ANA Hotels Group Japan.
The acquisition shows the growing growth of Japan’s hotel and tourism market. The number of international tourists visiting Japan this year from January to July recorded a historical high of 11.06 million, up 46