Marriott International and KKR have announced the launch of each company's foray into the midscale hotel space in Japan, following KKR's completion of its acquisition of Unizo Hotel Company and a portfolio of 14 hotels in Japan from Unizo .
The 14 hotels will be converted into Four Points Express by Sheraton.
This marks Marriott's entry into the affordable mid-range in Japan and the brand's debut in the Asia-Pacific region following its global launch in 2023.
The portfolio of 14 hotels is located in major tourist destinations in 10 cities in Japan, including Hakodate, Morioka, Utsunomiya, Yokohama, Kanazawa, Nagoya, Osaka, Kyoto, Kobe and Hakata.
The properties are expected to open in the second half of 2024, adding more than 3,600 new rooms to KKR and Marriott's respective hotel portfolios in Japan.
Four Points Express by Sheraton hopes to offer value-conscious consumers an affordable and reliable hotel experience in convenient locations throughout Japan.
“There is growing consumer demand for reliable yet affordable accommodation in the region,” said Rajeev Menon, president of Marriott International, Asia Pacific excluding China.
“Our new midscale brand will offer hotel owners an affordable conversion opportunity with an efficient operational design, access to Marriott International's extensive distribution systems and the support of our powerful, award-winning Marriott Bonvoy travel program,” he added. the Marriott executive.
“Domestic and international tourism in Japan has recovered strongly since the pandemic and continues to accelerate. As demand for mid-range hotels grows rapidly, we see a tremendous opportunity to offer comfortable, high-quality accommodations at a great price,” said Kensuke Kudo, managing director of real estate at KKR.
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