: Classifieds : MyJU :
Stories: News
Browse News Stories: « Previous Story | Next Story »

Kariyushi Urban Resort to see new life at Tomari Wharf

Date Posted: 2008-12-31

A 13-year landmark hotel resort that closed November 30th because of the ailing economy, fewer hotel guests and rent too high to make a profit, appears to be preparing for a return to the downtown Naha City scene.

The Okinawa Kariyushi Urban Resort Naha is in new negotiations with Naha City, Okinawa prefecture and the third sector business group Tomari Wharf Development Company to strike a deal that would permit it to reopen in the Tomarine Building on the edge of Tomari Wharf as early as July.

The Okinawa Kariyushi Urban Resort Naha part of the building included several restaurants, a banquet hall, a wedding hall and retail shops. Itís owner, Chokei Taira, also owns a hotel in Onna Village. Taira had tried repeatedly over the past several years to strike a revised rental agreement with the third sector company, Tomari Wharf Development Company, but the private company wanted instead to sell the building. Taira wanted a rent reduction that would have allowed him to stay open and make a profit, and had told the building owners there were not enough customers to justify the high rent.

The consortium refused, wanting instead for Taira to purchase the entire building. When his •1 billion offer was rejected, Taira instead closed the hotel that originally opened in 1995. The consortium wanted Mitsui Real Estate Company of Tokyo to buy the building for •3 billion, but that has not happened, leading the local owners back to the bargaining table with Taira. The Prefecture, Naha City and Tomari Wharf Development Company have decided to lower rental fees, making a deal palatable to Kariyushi Urban Resort and Taira.

Taira says heíll re-hire all staff members that were released at the end of November. Three companies had been in negotiations with the consortium, but Tairaís Kariyushi Urban Resort Company was found to be the best partner. Final negotiations are now under way.

Browse News Stories: « Previous Story | Next Story »

weather currency health and beauty restaurants Yellowpages JU Blog

OkistyleJU FacebookOkistyle

Go to advertising PDF?||?|o?L?qAE?|?}?OA?N?ga`OkiStyle?A??q?qM?oeu^?I`??N?gX?<eth>?<ETH>?ni^?IWanted!!Golden Kings ScheduleOkiNightSeeker