marriott international
KKR and Marriott International announce new hotel brand Four Points Express by Sheraton and enter Japan’s midscale hotel market
14 hotel renovations bring Marriott’s first mid-priced hotel in Asia Pacific ……
KKR, one of the world’s leading investment companies, and Marriott International (Headquarters: Maryland, U.S.; Chief Executive Officer and CEO: Anthony Capuano) have completed the acquisition of 14 UNIZO Holdings-affiliated hotels in Japan. We announced that the hotel will be renovated and reopened as Four Points Express by Sheraton. The initiative marks Marriott’s entry into the affordable midscale hotel market and marks the first arrival in Asia Pacific of the Four Points Express by Sheraton brand, which will be launched globally in 2023. means.
The 14 hotels are located in 10 cities in Japan, including famous tourist destinations such as Hakodate, Morioka, Utsunomiya, Yokohama, Nagoya, Kanazawa, Kyoto, Osaka, Kobe, and Hakata. Renovations are expected to be completed in the second half of 2024, adding more than 3,600 new rooms to Marriott and KKR’s respective hotel portfolios in Japan.
Four Points Express by Sheraton offers value in reliability, simplicity, design and guest experience in a convenient location in Japan, at a price point that is affordable to a wide range of customers. Going forward, we aim to align with these brand standards, contribute to the franchise by designing to meet guest needs, and providing effective pricing strategies to promote Marriott’s sustainable growth.
Rajeev Menon, President, Asia Pacific (excluding China), Marriott International, commented: “Consumer demand for reliable, affordable lodging is growing in the region. Our goal is to find the right locations and price points wherever our guests need them. This collaboration with KKR expands our possibilities to achieve this goal and gives us the opportunity to increase awareness of Marriott’s midscale hotels in the region, starting with Japan. This new midscale brand offers hotel owners an affordable new opening opportunity, as well as efficient operational design, access to Marriott
International’s extensive distribution system, and award-winning You can enjoy the support of Marriott Bonvoy, a powerful travel program with
Kensuke Kudo, Managing Director of Real Estate at KKR, said: “Japan’s international and domestic tourism has rebounded strongly
post-coronavirus and is currently maintaining its pace. Demand for midscale hotels is rapidly increasing, providing high-quality, comfortable accommodations at great prices. We are pleased to partner with Marriott International, one of the world’s leading hotel companies, to launch Four Points Express by Sheraton in Japan. By combining Marriott’s real estate investment and operations expertise with Marriott’s deep hospitality experience, we aim to provide international and domestic travelers with an exceptional, yet affordable lodging experience across Japan. ”
The new midscale brand will be eligible for Marriott Bonvoy®, Marriott’s award-winning loyalty platform. Marriott Bonvoy is a travel program with more than 200 million members worldwide, accepting hotel reservations directly through Marriott’s worldwide global sales force and powerful digital channels, including Marriott.com and the Marriott Bonvoy app.
This investment is part of KKR’s Asia Pacific real estate strategy. The transaction marks KKR’s latest real estate investment in the Asia-Pacific region, which includes an investment in an iconic full-service hotel located in Shinjuku, and an investment in a leading Japanese real estate management company, KJR Management (formerly Mitsubishi Corporation), which manages two REITs.・UBS Realty Co., Ltd.), a multifamily property in Tokyo, and office assets across Japan, and further accelerates KKR’s investment momentum in Japan’s real estate sector.
Please note that details regarding this transaction are not disclosed at this time.
About KKR
KKR (NYSE: KKR) is a global investment management company providing alternative asset management, capital markets, and insurance solutions. We take a long-term, disciplined investment approach, deploying world-class talent to support the growth of our portfolio companies and communities, and aim to generate attractive investment returns. KKR sponsors investment funds that invest in private equity, credit and real assets, and has strategic partners that manage hedge funds. Managed by KKR’s insurance subsidiary, Global Atlantic Financial Group, it provides retirement, life insurance, and reinsurance products. Statements regarding KKR investments may include activities by KKR sponsored funds and insurance subsidiaries. For more information about KKR, please visit www.kkr.com. For more information about Global Atlantic Financial Group, please visit
www.globalatlantic.com.
About Marriott International
Marriott International (NASDAQ:MAR) is headquartered in Bethesda, Maryland, USA and operates more than 30 major brands and approximately 8,900 properties in 141 countries and territories. Marriott operates hotel and franchise and resort ownership programs around the world. We also offer an award-winning travel program, Marriott Bonvoy(R). For more information, please visit https://www.marriott.com. The latest company news is available from http://www.marriottnewscenter.com and also on Facebook, X and Instagram.
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