Japan: Tokyo and Osaka offices, logistics and hospitality assets, and the cross-border capital buying them.
Gaw Capital Partners’ GCP Hospitality is taking managerial control of 14 hotels in Kyoto under a deal with IHG that will give the global lodging giant more than 1,000 additional rooms in Japan’s ancient capital. The 1,063-key collection comprises 12 properties to be converted to IHG’s Garner midscale brand, one Holiday Inn Express and one unbranded hotel, the companies said Monday in a release. The hotels are set to open in phases during the next 12 months after renovations and rebranding. The hospitality arm of Hong Kong-based Gaw will lead the management team, while IHG provides its brands, technology, marketing and distribution systems.
Japanese developer Hulic Co Ltd has confirmed it is the buyer of an eight-storey office building in Ginza from Singapore-listed Keppel REIT for JPY 11.5 billion (S$72.4 million). The deal, which marks a 28.4 per cent premium to Keppel REIT's November 2022 purchase price, ends the trust's four-year p