Seibu Holdings, a major private railway company, has officially announced that it will sell 31 facilities such as hotels and ski resorts to foreign funds in order to improve its financial condition, which has deteriorated due to the effects of the new coronavirus.
According to the announcement, Seibu Holdings will operate "The Prince Park Tower Tokyo" in Minato-ku, Tokyo, 15 Prince hotels in Sapporo and Hiroshima, as well as ski resorts and golf courses such as "Naeba Ski Resort". , A total of 31 locations will be sold to government-affiliated funds in Singapore.
After the sale, the group companies will continue to operate and maintain the brand names such as hotels.
Seibu Holdings is in a difficult business situation, with the number of railway and hotel passengers declining due to the impact of the new Corona, and the company expects an operating deficit for the second consecutive year in the one-year financial results until next month.
This time, by selling about 40% of the hotels and leisure facilities owned in Japan, we expect a total of about 150 billion yen, and we are planning to improve the deteriorated finances.
At a press conference, Seibu Holdings President Takashi Goto said, "Since we were able to improve our finances in a short period of time by selling assets, we would like to increase profits by promoting redevelopment of well-known areas such as Karuizawa and Hakone." Said.