News for the Hospitality Executive
The Hotel Okura Co. Acquiring 79.6% Ownership of JAL Hotels
Objective is to Deliver Merit in Terms of Group Size, International
Competitiveness and Increased Valuation of the Brand Overall.
Tokyo, August 6, 2010 --- Hotel Okura Co., Ltd. (“Hotel Okura”) announced today that it had entered into an agreement with Japan Airlines International Co., Ltd. (“JALI”) to acquire 79.6% of the issued shares of JAL Hotels Co., Ltd (“JAL Hotels”) held by JALI.
JAL Hotels is a leading Japanese hotel chain operator that boasts both top class sales and a leading network. The hotel chain made its reputation abroad, especially in the growing Asian market, with its top-notch quality.
Showing great affinity for each other as partners who share corporate direction and vision, Hotel Okura and JAL Hotels expect that the business synergy from the strong alliance produced through the transaction described in this announcement will not only deliver merit in terms of group size, international competitiveness and enrichment of human resources, but will also generate varied positive effects in areas such as marketing, business development, further expansion of existing training programs, information sharing and increased valuation of the brand overall.
2. Method of Acquisition
3. Overview of JAL Hotels Co., Ltd.
4. Overview of company selling shares
5. Share ownership
August 6, 2010: Execution of the share transfer agreement
September 30, 2010: Transfer
7. Post-acquisition prospects
Additionally, after acquisition, Hotel Nikko and Hotel JAL City will retain their names. Various programs, gift certificates, coupons and other marketing programs related to JAL mileage will also continue.
The effect the transaction will have on the consolidated results of
the fiscal year ending March 2011, will be restricted to a half-year period
starting from October and ending in March.
Hotel Okura Co., Ltd.
About Okura Hotels & Resorts
Over the 30 years since its formation, Okura Hotels & Resorts has constructed a global network of high quality internationally as well as in Japan. Fusing the delicate consideration of Japanese culture with European and American functionality, Okura hospitality welcomes guests from around the world to its spaces of relaxation and comfort.
Masao Taguchi, Junko Igarashi or Hiroko Kobayashi
|Also See:||Raffles International Limited and Hotel Okura Co Ltd Sign Strategic Alliance; Will Explore Hotel Development, Joint Marketing and Joint e-procurement / May 2002|
|Tokyo's Big Three - , the Imperial Hotel, Hotel New Otani and Hotel Okura Largely Unaffected by Many Luxury Foreign Hotels Opening / January 2006|