Moon Beach Hotel, one of the pioneering Okinawan resorts, has been sold to a conglomerate after going bankrupt. The hotel opened in 1975 on the western side of Okinawa and later many other resort hotels went up on the same coast. Moon Beach was a casualty of the bubble economy, with debts of 7 or 8 billion yen, which became impossible to pay back.
The company that has bought the hotel, Moon Beach Resort, has 20 Okinawan investors, including Orion beer, Okinawa Electric, Nago International Tourism, Ryukyu Bank, Okinawa Bank and Kaiho Bank.
