03 February 2022
Giuliano Esposito, Partner, said “We are excited to enter the Japanese hotel market, with this strategic acquisition in Nagoya. The hotel opened in 2019 and is ideally located close to the main Nagoya train station and provides significant upside opportunities, including increasing the room count as well as potentially leasing underutilised space. We are well-positioned to implement asset management and value-add initiatives to enhance the overall positioning and performance of the hotel.
Despite the current depressed hotel trading environment and new restrictions, we believe that Nagoya, as a predominantly domestic driven market, is poised to benefit from the rebound in corporate travel and growing international demand. Also, there are a significant number of development projects in the city which will continue to enhance Nagoya’s city infrastructure and attractiveness. In particular, the redevelopment of the main Nagoya train station, which will include a significant number of new large commercial buildings and underground walkways, is expected to benefit the hotel going forward.
Whilst the At Inn Hotel Nagoya represents our first acquisition in Japan, we are actively looking to increase our asset holdings in the country and across the region”