Australian-owned global fund manager Salter Brothers is expanding its services to the Japanese market through a strategic partnership with TC Hotels and Resorts Beppu Corporation (TCH&R-B), a wholly owned subsidiary of Tokyo Century Corporation.
The partnership, which will cover both new and existing assets, commences immediately with Salter Brothers assuming asset management of the 89-room luxury ANA InterContinental Beppu Resort and Spa, on the southern Japanese island of Kyushu.
As one of the largest owners of international branded hotels in Australia, Salter Brothers brings experience in refurbishing, rebranding and repositioning of existing assets to a market where international brands have traditionally been underrepresented.
Tokyo Century Corporation Deputy President, Executive Officer, Yoichiro Nakai, said the partnership will put the company in a strong position amid a changing market.
“The hospitality market is shifting in Japan, particularly with the very strong growth forecast for inbound tourism, creating a number of opportunities,” Nakai said.
“Partnering with Salter Brothers, brings together exceptional capital, reach and operational capability, providing our partnership a competitive advantage in this market.”
A listed company based in the capital city, Tokyo Century Corporation is a leading Japanese provider of leasing services and specialist finance, active across a range of sectors from real estate to transport, with a presence in over 30 countries.
With 41 assets under management across Australia, Asia and the US, Salter Brothers intends to leverage its relationships with key global operators in the Japanese market.
“Salter Brothers is proud to be working with Tokyo Century in this new and exciting venture, partnering on hospitality opportunities in the Japanese market,” said Salter Brothers Managing Director, Paul Salter.
“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.”