SHANGHAI Yuyuan Tourist Mart has reportedly snapped up Hoshino Resorts Tomamu, a ski resort on Hokkaido operated by Hoshino Resorts for 18.3 billion yen (US$148.3 million).
The Chinese company is apparently looking to tap into the booming demand among Chinese consumers for year-round resort facilities in foreign destinations.
Hoshino Resorts will continue to operate the facility after the deal has been completed.
Shanghai Yuyuan Tourist Mart manages a number of large commercial facilities in and around Yuyuan Garden, one of the most famous attractions in Shanghai. An arm of the Fosun Group, it also has extensive interests in the F&B, real estate and pharmaceutical sectors.
