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International investors hold stakes in major Okinawa hotels

Date Posted: 2008-01-12

Announcements that international investment firms will be pouring billions of yen into Okinawa hotel and resort properties in coming years are no surprise to local hoteliers, who themselves are being fronted by foreign money.
“There are lots of places that want investments,” a spokesman for the Okinawa Development Promotion Government Financial Institution says, “but none are as exciting as Okinawa.” The Institution revealed a few days ago that ¥420 billion will be invested in new hotels and resorts here during the next five years. More than 70% of that new money will come from overseas or mainland Japan.
Tourism is declining in mainland Japan, while increasing in Okinawa, and projections call for even greater local growth in the coming decade. “Okinawa is a very special place”, the Institution official declared, “and growth is expected to be more so in the foreseeable future.”
Lone Star Investment Fund has already made significant inroads in the Okinawa market, investing heavily in the Loisier Hotel, Naha Grand Castle Hotel, Okinawa Marriott Resort Hotel and JAL Private Resort Okuma. Another American giant, Morgan Stanley, has invested in Manza Beach Resort and Hotel, Okinawa Harborview Hotel and Ishigaki ANA Hotel Resort.
The Renaissance Resort Okinawa, Coco Garden Resort Hotel and Okinawa Nahana Hotel have had stakes taken by the Gimac Isshin investment company. Goldman Sachs Company has taken a chunk of Nikko Alivila Hotel, while Sun Marina has drawn investment from Raysome Research Company.

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