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Thakral Corporation has sold Hotel WBF Namba Motomachi
Singapore-based Thakral Corporation Ltd (“Thakral”) has divested Hotel WBF Namba Motomachi in Osaka, Japan at an undisclosed sum. Located minutes away from JR Namba Station and Namba Metro Station, the 111-key property features one breakfast restaurant and a club lounge for CLUB WBF members. The funds raised from the divestment will help to increase the company’s cash flows for reinvesting in other properties. After the completion of the divestment, Thakral will hold two business hotels and six commercial buildings with a combined area of around 430,000 square feet in Osaka. Thakral is currently looking to sell the remaining two hotels.
Central Pattana has Announced the Progress of the Development of Central Korat
Thailand-based Central Pattana (“CP”) has announced the development progress of Central Korat (“CK”). The mixed-use development consisting of the Central Korat shopping centre, Escent Korat Condominium (“EKC”), and Centara Korat Hotel (“CKH”) is valued at THB10 billion. With the success of EKC, CP has announced the plan for phase two of EKC, featuring 395 units. CKH featuring 218 guest rooms will be opening on 13 September 2022. The president of CP, Mr. Kree Dejchai, mentioned that CK development’s main strategy is to become the new central business district and tourist destination of Korat.
Tokyo to Resume Travel Subsidy Campaign
Tokyo will be resuming the travel subsidy programme, Motto Tokyo, in September to support the tourism industry in Tokyo. The joint initiative between Tokyo Metropolitan Government (“TMG”) and the Tokyo Convention and Visitor Bureau (“TCVB”) will provide discounts for fully vaccinated Tokyo residents for hotel stays within Tokyo. Individuals will receive JPY5,000 per night for up to 5 nights, with the condition that individuals have proof of at least three Covid-19 vaccination shots and the cost of the accommodations must be more than JPY6,000 per night. Individuals can also receive JPY2,500 for an excursion that costs more than JPY3,000.
Pan Pacific Collaborated with Tokyu Hotels to Launch Two New Hotels in Tokyo
Singapore-based Pan Pacific Hotels Group Limited (“PPHG”) has collaborated with Japan-based Tokyu Hotels Co., Ltd. (Tokyu Hotels) to launch two new hotels in the new mixed-use Tokyu Kabukicho Tower in Shinjuku, Tokyo. Slated to open in the first half of 2023, the 97-key Bellustar Tokyo, a Pan Pacific Hotel will occupy the uppermost floors from 39th to 47th, and feature a ‘sky spa’, a private gym, and various food and beverage outlets; the 538-key Hotel Groove Shinjuku, a Parkroyal Hotel will occupy the 18th to 38th floor and features private event rooms, the main restaurant, and a bar, and an open-air terrace featuring outdoor LED screens for events. The two hotels will be managed by Tokyu Hotels, combined with PPHG’s powerful global platforms.
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