Salter Brothers has partnered with Tokyo Century subsidiary TC Hotels & Resorts Beppu to invest in hotel and hospitality assets in Japan.
As part of the partnership, Salter Brothers Services has signed an asset management agreement for ANA InterContinental Beppu Resort & Spa, an 89-key luxury resort located in Kyushu
The partnership is a progression of Australian Salter Brothers’ pan-Asian expansion plan. The firm has nearly AUD$4 billion under management, of which some 85 percent is in real estate comprising 44 hotels across Australia, Asia and the US. TC Hotels & Resorts is the first Japanese partner with which Salter Brothers has concluded an asset management agreement.
What they said
Yoichiro Nakai, deputy president, executive officer at Tokyo Century said: “The hospitality market is shifting in Japan, and particularly with very strong growth forecast for inbound tourism, it is creating a number of opportunities. Partnering with Salter Brothers will bring together exceptional capital strength, reach and operational capability, providing our partnership with a competitive advantage in this market.”
Paul Salter, managing director at Salter Brothers added: “Salter Brothers is proud to be working with Tokyo Century in this new and exciting venture, partnering on hospitality opportunities in the Japanese market. In Japan, we are strongly focused on working with best-in-class ownership and management to unlock operational value-add, leveraging our pan-Asia hospitality investment experience and relationships with operating partners.”