Hyatt Hotels has just announced a 50-50 joint venture with Kou Sundberg and the team at Kiraku to roll out a new brand for hot spring resorts in Japan. The brand will be called Atona and the first resort is scheduled to open in 2025.
PAG has been named as the likely purchaser of the Huis Ten Bosch theme park in southern Japan in a deal valued at USD730m. The property is majority owned by Japanese travel company HIS which has been under financial pressure for some time.
Has e-commerce demand in Japan peaked? Is the longer-term outlook for the logistics sector as rosy as the near-term outlook? This FT article is worth a read for those invested in, or looking to invest in, the logistics sector in Japan. And is bricks-and-mortar retail likely to make a comeback over the coming years? At Nikota, we think well-located, non-discretionary retail assets are certainly worth keeping an eye on. After being forgotten by almost all global investors for several years due to pressures in their home markets, these retail assets in Japan are starting to look attractive on a risk-adjusted basis.
As competition in the e-commerce sector heats up, Amazon has announced a meaningful expansion of its logistics network in Japan with the addition of numerous delivery stations and large fulfilment centres. The expansion will enable the firm to strengthen its network, and provide same-day and next-day deliveries to all major areas.
Tokyu Corporation and L’Catterton Real Estate have formally announced their plans for the redevelopment of the Tokyu Department Store site in Shibuya, Tokyo. The project, called the “Shibuya Upper West Project”, will feature a high-end mall, luxury hotel, and residences. The combination of Tokyu’s development expertise in Japan, and L Catterton Real Estate’s strong track record in delivering iconic mixed-use projects globally, along with its affiliation with the LVMH Group, has got the market talking. The lead architect will be the internationally acclaimed Snøhetta, and Swire Hotels from Hong Kong, known for their creative and contemporary luxury properties, will operate the hotel. This is definitely one of the most exciting upcoming projects in Tokyo!