Red Planet to invest 22 billion yen into new hotels in Japan

Published on : Friday, December 7, 2018

Red Planet Japan Inc. has announced the formation of a joint venture with funds managed by Green Oak Investment Management K.K., the Japanese arm of Green-Oak Real Estate, that will develop Red Planet branded hotels in select city centres throughout Japan.

 

 

Green-Oak shall invest up to 5 billion yen into the venture, while RPJ shall invest up to 555,555,555 yen and, with non-recourse debt, the venture shall have total capital of approximately 22.2 billion available to finance up to six new hotels in Japan over the next two years.

 

 

Red Planet Japan plans to build hotels across major Japanese city centers, commencing with a 160 room hotel in Hiroshima.

 

 

Both parties expect to expand the scope of the venture over the following two years to keep pace with the rapidly-growing Japanese travel market.

 

 

Red Planet Japan’s Chief Executive Officer, Tim Hansing, said that this partnership enables major expansion of our hotel footprint across Japan’s urban centres, solidifying our position as the leading Asian budget hotel chain to meet increasing demand from, above all, the booming tourism surge into Japan. They are particularly pleased to be able to showcase our guest-facing technology which is transforming the stay experience. None of ┬áthe competitors have been able to implement anything like this.

 

 

Simon Gerovich, Chairman of Red Planet Japan, commented that having created the brand, infrastructure, and technology platform to realise substantial increases in revenues, margin expansion, and profits, we are now accelerating the pace of our roll-out. They regard this venture as the first of a series of asset developments with GreenOak over the coming years. The market is substantial, and growing rapidly, and they are well poised to scale up our presence accordingly.

 

Tags: , ,

Leave a Reply

Your email address will not be published. Required fields are marked *

arrow2Follow TTW
 
facebook-logo  twitter-logo  LinkedIn_logo  stumbleupon-logo   rss_logo 
ttw_blogger_logo  ttw_blogger_logo  ttw_blogger_logo

ADVERTISEMENT

  • 02 AIME 2019
  • 03 AIME 2018
  • 05 ameistanbul 2019
  • 06 aviation-festival-asia 2019
  • 07 thehotelshowsaudiarabia 2019
  • 07 WTM Africa 2019
  • 10 Asia Pacific 2019
  • 10 Hotel Management Thailand 2019
  • 11 Bar and Restaurant Investment 19
  • 11 Digital Travel 2019
  • 11 MALT 2019
  • 12 kitf 2019
  • 13 Food Hospitality2019
  • 14 SWTF 2019
  • 16 IITM 2019
  • 17 AITF 18
  • 18 UITT 2019

TRAVEL INDUSTRY EVENTS

    1. TTF Bengaluru

      February 15 - February 17
    2. THE HOLIDAY SHOW

      February 16 - February 17
    3. CONNECTIONS LUXURY

      February 17 - February 20
    4. AIME

      February 18 - February 20
    5. ACE OF MICE

      February 20 - February 22
Get our toolbar!
Review www.travelandtourworld.com on alexa.com