Japan's Hotels Record Fivefold Increase in Overseas Investment
Skift Take
- Japan's hotel sector has seen a significant increase in overseas investment, reaching $691 million year-to-date.
- Construction and finance costs have led to the cancellation or delay of hotel projects in Australia, resulting in a reduction of almost 1,000 planned hotel rooms.
- Macau experienced a 270% year-on-year increase in visitor arrivals in May, with Mainland China being the largest source of visitors.
The South China Morning Post said Japan’s hotel sector drew a fivefold increase in overseas investment to US$691 million a year to date. A 3.4 billion yen deal by Hong Kong-listed Golden Resources Corporation for Japan’s Ni Corporation is likely to close as soon as the end of this month. Ni Corp owns 133 parcels of land with a total area of more than 326,000 square meters in the ski resort town of Niseko and surrounding districts. The deal will also see Golden Resources gain 11 properties such as restaurants, sports facilities and car parks in Niseko and surrounding areas. The biggest hotel deal so far this year in Japan has been the acquisition of the 746 room Hyatt Regency Tokyo for US$419 million by KKR and Gaw Capital in March. Since the third quarter of last year, foreign investment in Japan’s hotel sector consistently accounted for 40% of the total investment in the segment.
The Australian Financial Review said rapidly rising construction and finance
