Singapore-based Roxy-Pacific Holdings has acquired its second hotel asset in Japan, Tenmabashi Grand Hotel Osaka, for three billion yen (US$27.2 million).
Upon completion of the acquisition in October 2017, the 154-room Tenmabashi Grand Hotel Osaka will be self-managed by the group’s Noku Roxy hospitality management arm, which currently operates Noku Kyoto in Japan.
Chris Teo, managing director of Roxy-Pacific, commented: “Since its soft opening in April this year, Tenmabashi Grand Hotel Osaka has received warm reception due to the merits of its location and easy connectivity to public transportation.
“Our self-managed Noku Kyoto hotel has achieved high room rates and good yield – a testament of the effective business model that we hope to replicate in the Osaka hotel asset so as to bolster our recurring income streams for greater resilience.”
In the Noku Roxy hospitality brand asset pipeline are a 50-villa resort in the Maldives, and a separate resort in Phuket’s Chalong sub-district, which are planned for launch in the last quarter of 2017 and 2019 respectively.
