Global investment firm KKR and hospitality giant Marriott International have announced their entry into Japan’s midscale hotel market with the launch of Four Points Express by Sheraton.
The move follows KKR’s acquisition of Unizo Hotel Company and a portfolio of 14 hotels in Japan from Unizo Holdings.
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These 14 hotels will be converted to the new brand, Four Points Express by Sheraton, marking Marriott’s affordable midscale segment debut in Japan and Asia Pacific.
Set to open in the second half of 2024, the 14 hotels are located in major tourist destinations across ten Japanese cities.
This expansion will add over 3,600 new rooms to the portfolios of both KKR and Marriott in Japan.
Marriott International Asia Pacific excluding China president Rajeev Menon said: “There’s a growing consumer demand for reliable-yet-affordable accommodation in the region. Our goal is to be everywhere our guests want us to be, with the right property in the right location, at the right price point.
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By GlobalData“This collaboration with KKR will expand our ability to do exactly that – starting in Japan, with opportunity to grow our midscale presence in the region.
“Our new midscale brand will offer hotel owners an affordable conversion opportunity with an efficient operational design, access to Marriott International’s expansive distribution systems and the backing of our powerful award-winning Marriott Bonvoy travel programme.”
Four Points Express by Sheraton aims to cater to value-conscious consumers seeking reliable and simple accommodation.
The new midscale brand will be integrated into the Marriott Bonvoy loyalty platform, which has more than 200 million members worldwide.
It plans to utilise Marriott’s Global Sales Organization and digital platforms, including Marriott.com and the Marriott Bonvoy mobile app, to drive direct bookings.
KKR real estate managing director Kensuke Kudo said: “We are delighted to be strategic partners with Marriott International, one of the world’s pre-eminent hotel companies, to launch the Four Points Express by Sheraton brand in Japan.
“By combining KKR’s real estate investment and operational expertise and Marriott’s deep hospitality experience, we look to deliver outstanding-yet-affordable lodging experiences to international and domestic travellers across Japan.”
Recently, reports emerged that Marriott International is deepening its focus on India with plans to launch 12 new hotels this year.
