Savills Hotels announced the completion of the sale of the four ANA Crowne Plaza hotels in Hiroshima, Fukuoka, Kanazawa and Toyama, Japan. The hotel portfolio was acquired by Hoshino Resort Co., Ltd., one of the leading Ryokan/hotel operators in Japan at the end of August.
Savills acted as the exclusive agent for the owner during this transaction. The sale has been recognized as one of the largest hotel portfolio transactions in Asia for 2015, according to a Savills press release.
The ANA Crowne Plaza Hotels in Hiroshima, Fukuoka, Kanazawa and Toyama offer 1,229 guestrooms in total with more than 20 bars and restaurants altogether. Before the sale, the hotels were 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 run by IHG ANA Hotels Group Japan, Savills explained in the press released.
This deal once again highlights the current strength of Japan’s hotel market and tourism industry. Japan saw a historical number of international visitors in the first quarter. A total of 11.06 million tourists stopped by the country in the first half of 2015. This number jumped 46.9 percent from the same period in 2014.
Japan’s increased popularity among Asian tourists is a result of the currency policies and visa facilitation efforts by the Japanese government to make it a more desirable and easy to access destination.
Savills Hotels added that each of the cities the four ANA Crowne Plaza hotels are located in has seen a rise in popularity recently. Hiroshima is a city with a memorable history and is known for its World Heritage Sites.
Fukuoka happens to the center of business and tourism in the southwestern Japan. Kanazawa and Toyama are relatively new tourists spots but have seen an increase in visitors because of the new bullet train connection from Tokyo. These four hotels are well respected in their respective cities and have been reviewed highly by guests.
