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Hotel Nikko Naha Grand Castle sold to an American company

Date Posted: 2007-02-23

It took a while for the specifics to leak out, but the Hotel Nikko Naha Grand Castle is being purchased by an American investment company.

Lone Star Group has purchased the Naha City hotel from Japan Air Lines, but both sides are silent about the purchase price. While officials are mum on the financial details, they acknowledge that the current JAL organization will continue operating the hotel for now. It is expected that Lone Star Group will begin integrating its own personnel over coming months.

Cash-strapped JAL has been reorganizing, with even more changes expected to be announced today.

Hotels both within Japan and internationally are expected to be spun off, because JAL cannot make money from its hotel operations. One official candidly says JAL will focus fully on its air line business.

Lone Star Group, an investment company that also owns major banking interests in Korea, purchased Okinawa XXXX Hoel, Okinawa Mariott Hotel, Okinawa Royal View Hotel and Ishigaki Grand hotel.

The move places most all of JAL-owned hotels in Lone Star hands.

All Nippon Airways has gone the same route, selling off most of its hospitality industry properties.

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