RED PLANET JAPAN CONCLUDES THE ACQUISITION OF LAND FOR RED PLANET HIROSHIMA NAGAREKAWA
TOKYO – Red Planet Japan Inc. (3350:JP) today announced it has completed acquisition of the land plot for the new Red Planet Hiroshima Nagarekawa hotel set to open in June 2020. The 160-room budget hotel will be Red Planet Japan’s ninth property, adding to its portfolio of six hotels in Japan and two under development at ultra-prime locations in Manila set to open in 2019 and 2020.
Red Planet’s Chief Executive Officer, Tim Hansing, said, “The completion of this acquisition bodes well for Red Planet Japan’s expansion plans in Japan. Red Planet Japan is accelerating its roll-out, and the acquisition of this great site in the bustling Nagarekawa area of Hiroshima is a pivotal step in the development of our Pan-Asian circuit offering.”
Hiroshima, a world-class destination on its own, is also a major gateway for Western Japan, with easy access from Bangkok, Beijing, Hong Kong, Manila, Seoul, Shanghai, and Taipei for Asia’s 800 million millennials. Red Planet Japan is creating nationwide coverage for the rapidly-increasing tourists who return to Japan time after time, and the new hotel complements the current portfolio of hotels in Tokyo, Sapporo, Nagoya, and Okinawa.
Simon Gerovich, Chairman of Red Planet Japan, added, “Our scalable business model based on cutting-edge client-facing and internal IT systems results in enhanced efficiencies that translate into increases in revenues, profit margins, and our bottom line. With rising scale across Asia, not only can we reap rewards from operational efficiencies, but we can also open the door to new business opportunities such as management contracts, franchise agreements, and joint ventures.”
Red Planet Japan currently operates 704 rooms across Japan, with a further 575 rooms being constructed in Manila, another 212 rooms in Sapporo, and 160 rooms in Hiroshima before the end of 2020. Red Planet Japan’s new hotels shall boost the number of rooms operating under the Red Planet brand in Asia to 6,552 over the next two years.
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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 subsequently opened in October 2017. In June 2018, Red Planet opened Red Planet Sapporo Susukino South, its first property in Sapporo. Red Planet Sapporo Susukino Central and Red Planet Hiroshima Nagarekawa are currently under development and are expected to open by 2019 and 2020, respectively. Red Planet Japan has also acquired development sites in Manila, Philippines, with two hotels sequenced to open by 2020. The Company is listed on the Tokyo Stock Exchange under the ticker symbol 3350.
About Red Planet Hotels
Red Planet Hotels, founded in 2010, is a privately-owned regional hotel group focused on Asia’s expanding budget hotel sector. The company owns and operates 30 hotels in Indonesia (7), Japan (5), the Philippines (13), and Thailand (5) for a total of 4,783 rooms. Eight additional hotels, comprising 1,769 rooms, will open across Japan, Thailand, and the Philippines in 2019 and 2020. These hotels will open using 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