Two Okinawa hotels sold to foreign investors

The U.S. investment company Morgan Stanley will purchase the controlling stake in the Loisir Hotel & Spa Tower Naha form the Lone Star Group, the current owner, and also a U.S. investment company.

According to the agreement, the Lone Star Group will hand over their shares in the company on August 30th. Representatives of both companies say there will be no change in the operating company, and the name will stay the same Loisir Hotel & Spa Tower Naha. Solare Hotels and Resorts Co., Ltd. of Tokyo will continue to operate the hotel from day-to-day, and the sale has no effect on employees of the hotel.

The ownership of the Okinawa Port Hotel in Naha, currently a part of the Ishin Hotels group of Tokyo, is also changing hands. The Ishin group has sold, July 1, its controlling stake in the hotel to IPC, which is an investing company based in Singapore.

The daily operation of the hotel will change to nest Hotel Japan (“n” in the “nest” has no capital), which is currently running hotels in Kumamoto and Sapporo. The name of the hotel will change to “nest Hotel Naha,” and restart as a new business from Oct. 2013. However, the change does not affect current employees, according to a spokesman for the new owner and the operating company.