New owner to renovate, rename Okinawa Miyako Hotel
A company related to the American investment bank Morgan Stanley is purchasing the land, building and management rights to Okinawa Miyako Hotel in Naha City. According to people familiar with the new owners’ planning, the hotel will be closed in February, renovated and in 6 months turned into Novotel, a high-end chain of hotels based in France.
Okinawa Miyako Hotel opened in 1974. Its current owner is Kintetsu Real Estate in Osaka, and it is managed by Kintetsu Miyako Hotels. The building has 15 floors and 307 guest rooms.
Miyako Hotels will continue operating the hotel through Jan. 22, 2018, and the ownership of the land and building will change to the new owners at the end of January. The owners local arm “Ryukyu Hotel Management” will take over the management. The current hotel staff of 124 full and part time employees will be offered employment under the new management.
Ryukyu Hotel Management company used to own Riga Royal Gran Okinawa in Naha, but sold it to Tokyo-based real estate company Ken Corporation this spring. The new hotel will be the new owners’ only hotel in Okinawa.