Shangri-La Group has formed a joint venture with Samty Group to open the luxury hotel in Kyoto, Japan.
The location of the proposed hotel is just north of the Nijo Castle, a UNESCO World Heritage Site and exceptionally popular tourist destination. The land was acquired by Shangri-La Group in September 2019 and at the beginning of April, Shangri-La Group and Samty Group entered into a sale and purchase agreement pursuant to which Samty Group acquired an indirect 80 per cent interest in the hotel.
Shangri-La Group’s Chief Executive Officer, Lim Beng Chee said, “We are thrilled with this new partnership with Samty Group. This project brings together Shangri-La Group’s hospitality expertise, and leverages Samty Group’s strong track record in real estate development in Japan, especially in the Kansai region where Kyoto is located. We look forward to working together, and we hope to begin welcoming guests to this new hotel by 2024.”
Shangri-La Group is one of the world’s premium developers, owners and operators of hotel and investment properties. They currently own and or manage over 100 hotels across the globe in more than 75 destinations under the Shangri-La, Kerry, JEN and Traders brands.
