Tokyo-based Wealth Management, a real estate investment company, is planning to develop a luxury hotel in Kutchan Town. It will invest in a special purpose company (SPC) that holds the trust beneficiary right of the development site and proceed with the project jointly. Considering the design period and construction period, it is expected to take three to four years to open.
Through the SPC, which is jointly funded by Wealth Management and external investors, Wealth Management will be involved in the development and operation of the hotel with its group companies.
The planned construction site covers an area of 5,946m2 in Kutchan Town, and is owned by a foreign corporation as land for luxury resort development. The detailed location has not been disclosed.
Negotiations are underway with luxury brand-name hotels that have not yet entered the Niseko area. The operation will be outsourced to Hotel W Management, a group company.
The company group develops business in various places centered on real estate finance and hotel management. It will open Fauchon Hotel Kyoto (59 guest rooms), the first Fauchon hotel in Japan, in March 2021.
(Excerpt from an article on November 14, 2020)
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