Seibu Prince to Buy Ace Hotel Parent for $90 Million
Skift Take
Japan's Seibu Holdings will acquire NY-based Ace Group International for $90M, gaining 8-hotel portfolio including NYC, Kyoto, Brooklyn, Athens locations plus creative agency Atelier Ace. Plus more hotel deal and development news items.
The Japan Tourism Agency said in July 2025, there was a 1.4% decline in total overnight stays. Business and resort hotels registered a strong performance but could not offset the decline in foreign visitation. Total overnight stays were 56.4 million in July, down 1.4% year-over-year. Japanese domestic travel was down 1.1%, but foreign visitation fell 2.5%. Traditional ryokan, resort hotels, and business hotels reported higher occupancy levels compared to July 2024, while city hotels had a slight downturn in performance. The Japan Tourism Agency said these results suggest we are seeing a return to more normal pre-Covid travel behavior.
The Philippines Department of Tourism is urging the resumption of its e-Visa program for Chinese nationals, aiming to stimulate demand and ease travel restrictions. The DOT said this is an obstacle to the recovery in Chinese visitation, but Chinese experts called this contradictory, saying the Philippines’ provocative
