Hong Kong investor looking to buy hotels in Okinawa
The First Eastern Investment Group, a major investment company in Hong Kong and major shareholder in LCC airline Peach Aviation, is eyeing on investing in hotels and entertainment businesses in Okinawa. The chairman of the First Eastern Investment Group, Victor Chu, had an interview with the Ryukyu Shinpo newspaper while he recently visited Okinawa for a Peach Aviation board meeting.
According to Chu, the company’s main interest is to invest in existing hotels in Naha and Ishigaki, and in a planned construction of a new hotel. The plan is for these hotels to specialize in catering tourists from China. Currently, the company is doing extensive market research in order to determine potential targets.
Chu says he has already inspected some hotels on Okinawa last year. He observed that, “As an increasing number of Chinese tourists visit Okinawa, we are planning to install Chinese style coffee shops and hire Chinese speaking staff to the hotels.”
The First Eastern Investment Group holds about 30 percent stake in the Peach Aviation, and has invested in about 200 companies and properties around the world. About 100 of the 200 are in China. The rest is equally divided between Europe, Middle East and the U.S.
Peach Aviation recently announced the starting of regular flights between Hong Kong and Naha from February.