TOKYO - JASDAQ-listed Red Planet Japan Inc. (3350:JP) and GreenOak Investment Management K.K. today announced that they acquired a prime site on Horikawa Dori in Kyoto. Red Planet Japan’s eighth hotel in Japan will have 191 guest rooms and is scheduled to open in November 2021.
The Kyoto hotel will be the second hotel under a joint venture between Red Planet Japan and Bentall GreenOak to develop up to six new hotels in key cities across Japan by 2021.
The new Kyoto hotel site is just 250 metres from Nijo Castle and a short walk from the Kyoto Imperial Palace. The hotel’s guests shall have easy access to public transportation along Horikawa Dori, with several subway stations within short walking distance.
Simon Gerovich, Chairman of Red Planet, commented, “This site acquisition builds on our strategy to continue rapid expansion in Japan through financial partnerships. We remain unique in Japan as a brand which acquires, develops, and operates its own hotels. This superbly-located Kyoto hotel will be our eighth hotel in Japan, and serves to strengthen our brand recognition in Japan.”
Dan Klebes, Managing Partner of Bentall GreenOak and President of GreenOak Investment Management K.K., added, “Our joint venture with Red Planet is now developing new hotels in Kyoto and Hiroshima, and we aim to acquire further prime plots in key gateway cities across Japan. We expect in-bound visitation by, especially, regional tourists to continue unabated over the coming years, supported by increasing airlift capacity from across Asia”.
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About Red Planet Japan, Inc. Red Planet Japan, Inc. is the JASDAQ-listed Japanese operation of Red Planet Hotels Limited. The company commenced operations in Japan in August 2013 with the opening of Red Planet Okinawa Naha, followed by the opening of Red Planet Tokyo Asakusa in 2015. Red Planet Nagoya Nishiki and Red Planet Sapporo Susukino South subsequently opened in October 2017 and June 2018, respectively. In September 2019, the hotel group opens Red Planet Sapporo Susukino Central, its second property in Sapporo. Red Planet Hiroshima is currently under development and shall open in August 2020. Red Planet Japan has also acquired its parent company’s Thailand-based operations and development sites in Bangkok, Thailand and Manila, Philippines, with three hotels sequenced to open by 2020 and 2021. The Company is listed on the Tokyo Stock Exchange under the ticker symbol 3350.
For more information, please visit: www.redplanetjapan.com
About Red Planet Hotels Red Planet Hotels, founded in 2010, is a privately-owned regional hotel company focused on Asia’s expanding budget hotel sector. The company operates 30 hotels in Indonesia (7), Japan (5), the Philippines (13), and Thailand (5) for a total of 4,779 rooms. These hotels employ Red Planet’s robust and scalable technology platform, providing both advanced reservation software, ensuring a fast and efficient booking process, and local attraction guides for customers. Red Planet comprises a stylish budget hotel offering, with all its properties centrally located and equipped with high-speed Wi-Fi. Red Planet’s companies based in Jakarta (Red Planet Indonesia - PSKT:IJ) and Tokyo (Red Planet Japan - 3350:JP) are listed on the Indonesian and Japanese stock exchanges, respectively.
For more information, please visit: www.redplanethotels.com