Foreign capital buys two popular hotels in Okinawa
Two of Okinawa’s most popular resorts are in the hands of new owners, the GreenOak Investment Management company of the United States.
The Renaissance Resort Okinawa in Yamada, Onna, and Coco Garden Resort Okinawa in Ishikawa, Uruma City, were sold by Ishin Hotels Group to the American investment firm. GreenOak owns many hotels in Tokyo, as well as in other western countries. This is GreenOak’s first venture into Okinawa. Officials say nothing will change, as the managing company, H.P.D. Corporation, and employees remain in place. The resort brand names will also remain.
The positive tourism influx has led many investments to hotels in Okinawa. The Renaissance started in 1988 and Coco Garden in 1989. H.P.D. Corporation in Osaka is in charge of managing both hotels. According to a fund related official, Renaissance has one of the highest occupancy rates of hotels in Okinawa and its unit value per room tends to be high. The Renaissance also has a reputation for high profitability. Thanks to a variety of original activities like swimming with dolphins, marine entertainment and chartered cruises, they have attracted repeat domestic and overseas customers. Although Coco Garden Resort Hotel is a small-scale hotel with 96 guest rooms, its occupancy rate is stable, and is popular among local residents too.