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ANA domestic hotels sold to America’s Morgan Stanley

Date Posted: 2007-04-20

All Nippon Airways took another step toward focusing strictly on the airline business, selling its 13 domestic hotels. Okinawa hotel properties are included in the package.

The InterContinental Tokyo, ANA’s flagship hotel, topped the list of hotels sold to Morgan Stanley, the American financial brokerage giant. The deal, which is projected to net ¥130 billion profit to ANA, is effective June 1st. Morgan Stanley, which already owns more than 80 hotels worldwide, reportedly paid about ¥280 billion for the 13 hotels. ANA’s board of directors approved the deal late last week.

The hotels are in Okinawa, Hokkaido, Toyama, Osaka, Hiroshima and other prefectures.

ANA will continue operating 18 other hotels it sold last Fall. The Harborview Hotel in Naha City, the Manza Beach Resort, and Ishigaki ANA Hotel and Resort were involved in that deal. The Laguna Garden Hotel in Ginowan, which ANA operates as a franchise, was also a part of the agreement.

The shift out of hotel management will give ANA a chance to invest in new aircraft purchases, as well as focusing on airline business.

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