TravelNewsAsia.com
Thu, 1 Aug 2019

Red Planet Sells Hotel in Japan; Retains Management Rights

A joint venture between JASDAQ-listed hotel operator Red Planet Japan and GreenOak Investment Management K.K. has entered into a contract to sell a Red Planet hotel currently under construction in Hiroshima, Japan to AXA Investment Managers - Real Assets for JPY4.6 billion.

Red Planet shall operate the 160-room hotel upon completion of construction in August 2020.

Red Planet Hiroshima Nagarekawa is the first hotel under a joint venture signed in November 2018 between Red Planet Japan and GreenOak to develop up to six new hotels in key cities across Japan by September 2020.

Red Planet Hiroshima Nagarekawa. Click to enlarge.

The Hiroshima hotel is in a prime location in the bustling Nagarekawa ward, in the heart of Hiroshima. Hotel's guests will have easy access to public transportation, with three tram stations within short walking distance. The Hiroshima Peace Memorial is just a kilometre away.

Simon Gerovich, Chairman of Red Planet, said, "The Hiroshima hotel acquisition, development, and sale are in line with our strategy to continue rapid expansion in Japan through financial partnerships. The superbly-located Red Planet Hiroshima Nagarekawa is our sixth hotel in Japan, and serves to strengthen our brand recognition in Japan."

Exclusive interviews: Future of Thailand's Cape & Kantary Hotels, Interview with Group Director - Travel Industry, Interview with Captain Lyn Evans About Cape Panwa Hotel Phuket Raceweek and Pictures of Cape Panwa Hotel Phuket Raceweek 2019.

See latest HD Video Interviews, Podcasts and other news regarding: Red Planet, Hiroshima, Japan.

Subscribe to our Latest Travel News Daily Email Free of Charge by simply entering your email address to the right. You can also receive the daily news service by WhatsApp, stay updated with our RSS Feed Free Travel News RSS Feed and even add the travel news to your website. Have questions? Please read our travel news FAQ.
     
Latest Travel News
Advertising
Advertising
Copyright © 1997-2019 TravelNewsAsia.com