The
pair will pursue both new and existing assets and Salter Brothers will
begin asset managing a luxury resort in southern Japan.
MELBOURNE,
Australia — Australian global fund manager Salter Brothers is partnering with
Tokyo-based TC Hotels & Resorts Beppu Corporation (TCH&R-B), a wholly
owned subsidiary of Tokyo Century Corp., to acquire hotels in Japan.
Melbourne-based
Salter Brothers has 41 assets under management in Australia, Asia, and the U.S.
It is one of Australia’s largest owners of international-branded hotels.
The
partnership will cover both existing and new hotel assets. Salter Brothers said
this plays to its strengths of refurbishing, rebranding and repositioning
existing assets with international operators in the Japanese market, especially
because international brands have traditionally been underrepresented in the
country.
“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,” said Paul Salter,
managing director of Salter Brothers.
The pair
also announced that Salter Brothers Services will assume asset management of
the 89-key ANA InterContinental Beppu Resort & Spa luxury resort located on
the southern Japanese island of Kyushu, effective immediately. The hotel opened
in 2019.
Publicly
traded Tokyo Century Corp. provides leasing services and specialty finance in
over 30 countries.
Tokyo
Century Group has been managing the Hotel Indigo Karuizawa (which opened in
2022) with the operation of IHG Japan Management LLC. It is also codeveloping a
luxury hotel within Torch Tower, a Tokyo skyscraper that will be the tallest
building in Japan, with Mitsubishi Estate Co. Ltd. The hotel, scheduled to open
in 2028, will be the first in Asia operated by the luxury brand Dorchester
Collection.
“The
hospitality market is shifting in Japan, particularly with the very strong
growth forecast for inbound tourism, creating a number of opportunities,” said
Yoichiro Nakai, deputy president and executive officer for Tokyo Century.
“Partnering with Salter Brothers brings together exceptional capital, reach and
operational capability, providing our partnership a competitive advantage in
this market."