Hotel Okura and Trinity Investments Unveil Plans to Create Nikko Style, a New Upscale Lifestyle Hotel Brand in Japan
NIKKO STYLE to target travelers seeking new, creative experience; to fill void in underserved select service hotel category as Japan rides wave of inbound tourism
TOKYO & HONOLULU (November 2, 2017) — Hotel Okura Co., Ltd. (“Okura”), a leading Japanese hospitality company, and Trinity Investments, LLC (“Trinity”), a Hawaii-based private real estate firm with an extensive background in hospitality, are pleased to announce an exclusive joint venture (the “Joint Venture”) to create NIKKO STYLE, a fresh new upscale select service hotel brand that will be introduced throughout Japan.
NIKKO STYLE will be operated by Okura Nikko Hotel Management Co., Ltd., a subsidiary of Okura. The new hotel brand will launch under Okura Nikko Hotel Management’s esteemed Nikko Hotels International umbrella and cater to both business and leisure travelers looking for a new lifestyle experience at affordable cost. The Joint Venture intends to capitalize on the transformational tourism shift occurring in Japan by filling the significant void in the select service category in the country, but also distinguishing itself from other select service hotels with upscale lifestyle features and the renowned Okura attention to detail. Current plans entail opening NIKKO STYLE hotels in the major metropolitan and regional areas throughout Japan, including Tokyo, Yokohama, Nagoya, Kyoto, Osaka, Kobe and Fukuoka, as well as Hokkaido and Okinawa. Following the establishment of the brand and operations in Japan, the Joint Venture plans to take the product into select markets in Asia, North America and Europe.
NIKKO STYLE will offer a comfortable and inviting atmosphere that encourages guests to work, relax and socialize. Whether local residents or international travelers, guests are welcome to meet, gather and connect through interactive culture, cuisine and creative experiences. The hotel will also feature the latest technological innovations so travelers can stay connected at all times. Benefitting from strong brand recognition and established sales, marketing and distribution channels, the Joint Venture is supported by a sustainable competitive advantage.
Toshihiro Ogita, President of Okura, stated: “NIKKO STYLE will be our first lifestyle brand targeted at a new class of premium business and leisure guests. We are delighted to partner with Trinity and its rich traditions in the global hotel business. We look forward to working with Trinity to offer sophisticated new hospitality services and exceptional hotel experiences that meet the discriminating tastes of premium guests.”
Sean Hehir, President and CEO of Trinity, remarked: “Japan’s hotel inventory is arguably the most underserved amongst developed countries worldwide, with little segmentation by major brand companies into the upscale select service space where branding and value-driven price points will be highly attractive to the country’s new visitor demographic. This collaboration with our long-standing partner Hotel Okura on NIKKO STYLE will serve to fill this void, allowing for the rapid penetration of a new but familiar brand throughout Japan and then, utilizing our respective companies’ worldwide networks, into selective gateway cities in other Asian countries, North America and Europe.”
About Trinity Investments, LLC
Trinity Investments, LLC is a private real estate investment firm with a 20-year history of generating value-added returns over a diversified array of geographic locations and asset types. Since its inception, Trinity has consummated more than $4.5 billion worth of real estate investments worldwide, including $2 billion worth of lodging transactions. Currently Trinity and its partners own The Ritz-Carlton Kapalua, The Westin Maui Resort & Spa, and the Le Meridien Mexico City. Trinity previously owned and operated The Kahala Hotel & Resort and the Kea Lani Resort, among others.
Trinity also possesses 20 years of experience working in and establishing long-term relationships in Japan. In 1998, Trinity formed Tozai Asset Management Co., Ltd., which is now a full-service real estate firm with 30 employees. In 2003, together with Marubeni Corporation, Trinity launched the first foreign-sponsored J-REIT, United Urban Corporation, which is now the 5th largest J-REIT in Japan.
Headquartered in Honolulu, Hawaii, Trinity maintains offices in Tokyo and Mexico City.