Capital Hotel 1000 Reopens in Rikuzentakata

Capital Hotel 1000 Reopens in Rikuzentakata 
Tokyo, Oct 25, 2013 - (JCN Newswire) -  Capital Hotel 1000 (read Capital Hotel
Sen, in Japanese) first opened in northeastern Japan's Rikuzentakata City
in 1989. Being the only hotel in the city, it served as an important landmark
until March 11, 2011 when it was destroyed by the Great East Japan Earthquake.
Capital Hotel 1000, however, has since been rebuilt, with the doors of a new
and improved hotel is scheduled to be opened on November 1. A special ceremony
to commemorate the reopening of the hotel is being held on October 25 in
Rikuzentakata, Iwate Prefecture. 
The reopening of this important symbol for Rikuzentakata was made possible
through support from a number of sources, including government financing and
public subsidies as well as a loan from Kesennuma Shinkin Bank and investment
provided by the Mitsubishi Corporation Disaster Relief Foundation. 
As a gateway to the Minaminsanriku area of Iwate Prefecture, Capital Hotel
1000 now provides a panoramic view of Rikuzentakata from its new location on a
hill. The new hotel is of steel frame and is equipped with 40 rooms to
accommodate 80 guests at full capacity. In addition, the new hotel boasts
state-of-the-art banquet and wedding facilities that can host up to 160 guests,
and a large public bath overlooking the Pacific Ocean. 
The hotel will employ 21 persons, including 8 from the old hotel and 6 new
recruits, who recently graduated from a local high school. Surrounded by an
abundance of nature and delicious seafood, as well as readily available fresh
fruits and vegetables that gives the local food its character, Capital Hotel
1000 also embodies the spirit of selfless hospitality typical of Rikuzentakata.
As the hotel looks forward to welcoming new guests, Capital Hotel 1000 also
takes pride in serving as a symbol of recovery and economic revitalization in
the region. 
The Mitsubishi Corporation Disaster Relief Foundation was established by
Mitsubishi Corporation in March 2012 to assist in job creation and support the
revival of industry in the areas affected by the disaster. The Foundation has
been providing scholarships for students affected by the earthquake and giving
support to NPOs engaged in restoration efforts, but the reconstruction of
Capital Hotel 1000, in collaboration with Kesennuma Shinkin Bank, is the first
such project supported by the Foundation directly. Dividends from the
investment in this project will be donated to Rikuzantakata as a contribution
towards furthering the city's recovery efforts. 
Kesennuma Shinkin Bank, already working through the provision of loans to
bolster the management base of local businesses, called on Mitsubishi
Corporation to support this initiative based on the conviction that support
from the Foundation would complement the Bank's intimate local knowledge
and extensive network. This kind of support stands to help generate and sustain
employment opportunities and make a contribution to overall economic
revitalization in the region. 
About Mitsubishi Corporation 
Mitsubishi Corporation (MC; TSE: 8058) is a global integrated business
enterprise that develops and operates businesses across virtually every
industry including industrial finance, energy, metals, machinery, chemicals,
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from natural resources development to investment in retail business,
infrastructure, financial products and manufacturing of industrial goods. With
over 200 bases of operations in approximately 80 countries worldwide and a
network of over 500 group companies, MC employs a multinational workforce of
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