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Kariyushi Group ready to purchase Ishigaki hotel

Date Posted: 2012-06-15

The Kariyushi Group of Okinawa is expanding, signing a contract to purchase the Karuizawa Club Hotel IshigakI Island in Ishigaki City.

The Okinawa company will purchase all shares in the hotel company, and the building, from the current operating company. Kariyushi Group will take over the hotel name, and will retain the 50 staff members currently employed at the southern island hotel. Kariyushi Group says it remains committed to continuing the hotelís business.

Negotiations for the property were conducted between Kariyushi Group and Aetos Group, an American investment fund. The contract process was completed a week ago.

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