Hoshino Resorts Inc. has announced plans to acquire the Grand Hyatt Fukuoka in June, aiming to initiate a recovery plan for the hotel from the new coronavirus-induced downturn. Fukuoka Jisho, which currently owns the hotel and neighboring Canal City, would take over the ANA Crowne Plaza Hotel in exchange. While the ANA Crowne Plaza’s appraisal price is lower than that of the Grand Hyatt by some ¥500 million, healthier operations of the Grand Hyatt are expected to bring positive impacts to Canal City, too. Source: Nikkei
Disclaimer: Fukuoka Now posts summaries of Kyushu area news for those who cannot read Japanese. These are mostly summaries of publicly posted news from the Japanese media. Errors might occur during translation, those are ours. Images are sourced separately and are for illustrative purposes only. Use this form to send feedback. Please share links to this page, it helps us.