Far East Hospitality joint venture buys upcoming Japanese hotel for $100.5m

It will be branded under a Far East Hospitality hotel brand.

Far East Hospitality entered a joint venture with Boo Han Holdings (BHH) to buy a plot of land and hotel to be constructed thereon in Japan for $100.5m.

According to an announcement, the hotel project is located on a 2,542 sqm plot of land in Ariake, Tokyo. The hotel will be branded under a Far East Hospitality hotel brand.

The vendor, Shimizu Corporation, will construct the hotel on the land and deliver it to the new joint venture company, Tokutei Mokuteki Kaisha (TMK), on the completion of the sale.

“The purchase of the Hotel Project presents a prime investment opportunity and will provide the Group with brand exposure in this major international gateway city,” Far East Hospitality said.

The hotel project is located a short car ride from Central Tokyo, Tokyo Disneyland Resort, and Haneda Airport. It is also within walking distance from Tokyo Big Sight, the largest convention centre in Japan.

“The Group expects the hotel, when completed, to benefit from its close proximity to Central Tokyo, Tokyo Disneyland Resort, Haneda Airport, Tokyo Big Sight, and the Ariake Arena,” Far East Hospitality added.