Salter Brothers, Tokyo Century partner to acquire in 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."