AHT’s Osaka hotel poised to reopen after $13.6m makeover

The hotel’s valuation jumped from JPY9.3b to JPY16.8b.

Ascendas Hospitality Trust (AHT)’s Hotel Sunroute Osaka Namba is poised to re-open its doors following a three-month makeover that cost $13.6m (or roughly JPY1.1b).

According to the company’s news release, the hotel was refurbished to give it a contemporary look and was repositioned to appeal to travellers for both leisure and business purposes.

The refurbishment involved substantial changes were made to the facade, lobby and restaurant. Also, more guest rooms were renovated to accommodate twin and double beds to cater to families and guests travelling in pairs or groups.

The company believes Hotel Sunroute Osaka Namba is well-positioned to benefit from the buoyant hospitality market in Osaka, a key commercial and leisure destination in Japan.

AHT asserts that the hotel exemplifies the company’s asset management thrust, as the hotel’s value was strongly boosted by the refurbishment as well as securing a better rent structure. Based on the latest valuation as at 31 December 2015, the hotel’s valuation leaped from JPY9.3b as at 31 March 2016 to JPY16.8b.