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Hotel Okura to purchase all JAL hotel operations

Date Posted: 2010-07-01

Japan Air Lines is reportedly on the verge of an agreement with Hotel Okura of Tokyo to purchase all of its hotel operations, rather than only its JAL Hotels Company.

The sale is expected to bring 5-6 billion to the JAL coffers as part of its corporate restructuring. Several of the JAL properties are in Okinawa. JAL Hotels wants to trim about 16,000 jobs from the group before the end of fiscal year 2010 next March, all part of the corporate goal of slashing 19,300 jobs within the next three years.

JAL Hotels operates 41 hotels in Japan and Okinawa, as well as another 17 in foreign countries. Most of those are in cities serviced by Japan Air ALines.

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