JV to Create Upscale Hotel Brand in Japan
- Nov 27, 2017
Hotel Okura Co. and Trinity Investments LLC have formed an exclusive joint venture to create Nikko Style, an upscale hotel brand that will be introduced throughout Japan. Trinity is seeking to raise up to $300 million in equity to initially fund the Nikko Style chain. The first hotel under the brand is expected to open by 2020.
Plans of the joint venture include bringing the brand to 20 or 30 cities throughout the country, including Tokyo, Yokohama, Nagoya and Kyoto. Additionally, long-term plans include expanding the brand to other parts of Asia, North America and Europe.
The Nikko Style hotels will focus on strengthening the hotel market in Japan by creating an atmosphere that encourages work, relaxation and socializing, and by targeting travelers seeking a more creative experience.
“Japan’s hotel inventory is arguably the most underserved amongst developed countries worldwide, with little segmentation by major brand companies into the upscale select-service space where branding and value-driven price points will be highly attractive to the country’s new visitor demographic,” said Sean Hehir, president & CEO of Trinity in prepared statements.
Image courtesy of Hotel Okura Co.