Hyatt, ORIX to develop Hyatt Centric, Hyatt House in Japan

Kanazawa Castle, Kanazawa, Japan

A Hyatt Hotels affiliate has entered into a management agreement with ORIX for a Hyatt Centric hotel and Hyatt House hotel in Kanazawa, Japan’s north coast in the Hokuriku region. The hotels, which are expected to open in mid-2020, will mark Hyatt’s first joint development and first Hyatt House hotel in Japan.

Hyatt Centric Kanazawa will occupy the entire 14-story left tower with close to 250 guestrooms. Combined with the Hyatt Centric, Hyatt House Kanazawa will occupy floors three to seven of the 15-story right tower with about 90 apartment-style suites for extended-stay and long-term guests. 

FREE DAILY NEWSLETTER

Like this story? Subscribe to IHIF!

The hospitality industry turns to IHIF International Hotel Investment News as the must-read source for investment and development coverage worldwide. Sign up today to get inside the deal with the latest transactions, openings, financing, and more delivered to your inbox and read on the go.

Next to JR Kanazawa Station, the key stop on Japan’s newest bullet train route, the hotels will be near many of the country’s historical sites. Additionally, the hotels will be close to Kanazawa’s tourist attractions, including the city’s 16th century castle, traditional gardens and natural hot springs.

As of June 30, Chicago-based Hyatt Hotels’ portfolio included 731 properties in 56 countries across 13 brands. 

Hyatt recently announced further expansion plans across the Asia Pacific region. As part of a management agreement with Lotte Tour Development, the Grand Hyatt Jeju, which is the group’s sixth Grand Hyatt in Korea, will be developed in Jeju City, Jeju Island, South Korea. The 1,600-guestroom hotel is expected to be the second largest Grand Hyatt hotel in the world.

Suggested Articles

The latest report from STR shows negative year-over-year results in the three key performance metrics during the week of July 7-13.

Ritesh Agarwal, the company's 25-year-old founder and CEO, has signed a $2 billion primary and secondary management investment round.

By year's end, the Turkish hotel company will have five properties along the Red Sea and Mediterranean.