Marriott International will bring its recently christened Four Points Express by Sheraton midscale brand to Japan following the sale of a 14-property Japanese chain to U.S. investment firm KKR, Marriott announced Tuesday. The deal marks Marriott’s first midscale presence in Japan, according to the company.
KKR announced the acquisition of 14 hotels in 10 Japanese cities, including Kobe, Kyoto and Osaka, from Unizo Holdings, a bankrupt Japanese real estate and hospitality company. The hotels, currently flagged as Hotel Unizo or Unizo Inn, will be converted to Four Points Express by Sheraton properties and are expected to open in the second half of the year, according to the companies.
The properties would add more than 3,600 rooms to Marriott’s portfolio, according to the company.
“As demand for midscale hotels grows rapidly, we see a tremendous opportunity to offer high-quality and comfortable accommodation at great value,” said KKR managing director of real estate Kensuke Kudo in a statement.
Marriott in September launched Four Points Express by Sheraton as a midscale brand in Europe and the Middle East. Marriott plans to add five brand properties in the United Kingdom and Türkiye by 2025.
Financial details of the KKR acquisition were undisclosed.
