Kintetsu Group Holdings, headquartered in Osaka, announced that it will sell eight locations, one-third of all hotels it owns, to a new company established with an American investment fund.
It seems that the aim is to improve the finances that have deteriorated due to the effects of the new coronavirus.
According to the announcement, "Kintetsu Group Holdings" will sell eight of the 24 hotels owned and operated by the group to a new company to be established with the American investment fund "Blackstone Group" in October. ..
Eight locations will be sold, including "Miyako Hotel Kyoto Hachijo" in Kyoto, "Hotel Kintetsu Universal City" in Osaka, and "Kobe Kitano Hotel" in Kobe.
The name of the sold hotel will not be changed, and the Kintetsu Group will continue to operate it while utilizing the management know-how of the investment fund.
The number of railway users of "Kintetsu Group Holdings" has decreased significantly due to the influence of the new coronavirus, and "KNT-CT Holdings", a subsidiary of Kinki Nippon Tourist, has insolvency exceeding its assets. I have fallen into.
The sale price of the hotel has not been announced, but it is estimated to amount to tens of billions of yen, and it seems that the aim is to improve the deteriorated finances.