Deals
KKR, Gaw Look to Sell Tokyo Hyatt Regency for Over $640 Million
- Investment firms bought the property less than two years ago
- Hotels remain prized assets during Japan’s tourism boom
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KKR & Co. and Gaw Capital Partners are in talks to sell the Hyatt Regency hotel in Tokyo to Japan Hotel REIT Investment Corp. for more than ¥100 billion ($640 million), according to people familiar with the matter.
The two investment firms bought the hotel in the Shinjuku area for an estimated ¥60 billion less than two years ago, and a quick sale reflects the heated interest in Japan’s hotels amid a tourism boom coupled with a weak yen and low borrowing costs.