Affiliates of Hyatt and Takenaka Corporation have entered into a management agreement for a 70-room Park Hyatt hotel in Kyoto, Japan. The Park Hyatt Kyoto is expected to open in 2019.
Park Hyatt Kyoto will include a low-rise building in consideration of the Ninen-zaka cityscape and the surrounding landscape. The hotel will be walking distance from the Kiyomizu-dera Temple. There are also several historical buildings on site, the oldest of which is a teahouse dating back 360 years.
Takenaka Corporation has come into an agreement with Kyoyamato Co., Ltd., owners of Sanso Kyoyamato restaurant in Kyoto, to construct the hotel on the site, and the 67-year old restaurant will continue to remain on site and be operated by Kyoyamato.
Construction of Park Hyatt Kyoto is scheduled to begin at the end of 2016 with a targeted completion date of 2019. The construction and design will be overseen by Takenaka Corporation with interior designs by Tony Chi and Associates.
“For the past 22 years, the Park Hyatt brand has established a formidable reputation in Japan," Hirohide Abe, SVP of Hyatt, Japan and Micronesia, said in a statement. "Together with Kyoyamato Co. and Takenaka Co., we are excited to bring the Park Hyatt brand to Kyoto, the ancient capital of Japan.”
“We are delighted to have reached an agreement with Kyoyamato Co. to move forward with the Park Hyatt Kyoto project in the scenic Higashiyama region of Kyoto,” said Toichi Takenaka, chairman & CEO, Takenaka Corporation. “Our goal is to restore the historic building of Sanso Kyoyamato and its surrounding gardens with an infusion of modern architecture. Together with Kyoyamato and Hyatt, we hope to create a hotel that exceeds the expectations of our community and a property that is best suited for one of the world’s most renowned cities, Kyoto.”
“Kyoyamato Restaurant was established in Osaka during the Meiji Era in 1877 and has continued as a family business over five generations,” said Keiko Sakaguchi, CEO, Kyoyamato Corporation. “We are committed to carrying on the strong will of our successors and will continue to grow the restaurant. With the cooperation of Takenaka Corporation, Kyoyamato Restaurant will remain in operations as present. We look forward to serving our community as a beloved Japanese restaurant, honoring the loyal patronage of our long-time guests.”
Earlier this year, an affiliate of Hyatt Hotels Corporation sold New York City’s Andaz 5th Avenue Hotel to Takenaka for a reported $215.2 million, or almost $1.2 million per room, marking Takenaka's entry into the New York City hospitality market. Both parties handled the direct sale in-house.