Global investment firm KKR and hotel giant Marriott International have announced their entry into the Japanese mid-range hotel market with the launch of Four Points Express by Sheraton.
The move follows KKR’s acquisition of Unizo Hotel Company and a portfolio of 14 hotels in Japan from Unizo Holdings.
These 14 hotels will transition to the new Four Points Express by Sheraton brand, marking Marriott’s debut in the affordable mid-range segment in Japan and Asia Pacific.
The 14 hotels are scheduled to open in the second half of this year and are strategically located in key tourist destinations in ten Japanese cities.
This expansion adds more than 3,600 new rooms to KKR and Marriott’s portfolios in Japan.
Rajeev Menon, President, Marriott International Asia Pacific excluding China, said: “There is growing consumer demand for reliable yet affordable accommodation in the region. Our goal is to be wherever our guests want us to be, with the right property in the right place and at the right price.
“This collaboration with KKR will expand our ability to do just that – starting in Japan, with the opportunity to expand our mid-market presence in the region.”
“Our new mid-range brand offers hotel owners an affordable transition opportunity with an efficient operational design, access to Marriott International’s extensive distribution systems and the support of our powerful, award-winning Marriott Bonvoy travel program.”
Four Points Express by Sheraton aims to appeal to price-conscious consumers looking for reliable and easy accommodation.
The new mid-range brand will be integrated into Marriott’s loyalty platform, Marriott Bonvoy, which has more than 200 million members worldwide.
The company plans to leverage Marriott’s global sales organization and digital platforms, including its website and mobile app Marriott Bonvoy, to drive direct bookings.
Kensuke Kudo, Managing Director of KKR Real Estate, said: “We are pleased to introduce the Four Points Express by Sheraton brand in Japan as a strategic partner with Marriott International, one of the world’s leading hotel companies.”
“By combining KKR’s real estate investment and operational expertise with Marriott’s extensive hospitality experience, we aim to provide outstanding yet affordable accommodation experiences to international and domestic travelers across Japan.”
Reports recently surfaced that Marriott International is increasing its focus on India and plans to open 12 new hotels this year.
“KKR and Marriott Debut in Mid-Range Hospitality in Japan” was originally created and published by Hotel Management Network, a brand owned by GlobalData.
The information on this website has been included in good faith for general information purposes only. It does not constitute advice on which you should rely and we make no representation, warranty or guarantee, express or implied, as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our website.