Acquisition of Hotel Castle Inn Group
Nippon Sangyo Suishin Kiko (“NSSK”;http://www.nsskjapan.com/en) is pleased to announce the acquisition of Hotel Castle Inn Group (“Castle Inn Group”;http://www.castleinn.co.jp) through the Chubu/Hokuriku Region Vitalization Investment L.P. (“Chubu/Hokuriku Investment L.P.”).
Castle Inn Group owns and operates six hotels located in the Mie Prefecture of the Chubu Region, where there is a strong demand for hotels that accommodate business and leisure travelers. Castle Inn Group offers 826 guest rooms targeting primarily business travelers. The hotels are differentiated in the market through its affordable pricing and attractive amenities, such as onsen-style bathing facilities, ample and accessible parking spaces and comfortable rooms. Castle Inn Group has a stable and loyal customer base that has resulted in steady revenues and strong profit margins.
NSSK will deploy NSSK’s Value Up Program (“NVP”) in managing Castle Inn Group and implement global best practices with the initial focus on accounting, finance, governance, compliance, corporate identity and ESG. NSSK will also work closely with its hotel management operating partners. The implementation of these measures is expected to increase RevPAR (Revenue Per Available Room).