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Airline group to sell local hotel

Date Posted: 2006-09-29

The Hotel Nikko Naha Grand Castle is for sale.

The cash-strapped Japan Air Lines group is looking for a buyer, but says “even if we sell this hotel, workers will keep their jobs. That is sales condition number one.” The JAL group spokesman says “a second condition is that we continue to operate the hotel after the sale.”

Japan Air Lines group owns 44 hotels in Japan and another 14 overseas. In some cases, the airline doesn’t own the land or buildings, but is simply the operator. Nikko Naha Grand Castle is different, as JAL group has the stock it is now offering for sale.

The hotel is organizing with local land and buildings owners Shuri Kankou Company. JAL group is discussing the Kankou organization taking over, perhaps by year’s end.

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