📋 Tender Overview
Scope : To Build New Hotel Development in Hokkaido, Japan
YTL Hospitality Real Estate Investment Trust (YTL REIT) has outlined plans for a new hotel development in Hokkaido, Japan, with an estimated total investment of RM199 million.
Positioned to harness the potential of existing land owned by its subsidiary, Starhill REIT Niseko GK, nestled in the renowned skiing destination of Niseko Town, this venture aims to bolster income streams, as outlined in YTL REIT's filing with the stock exchange.
YTL REIT intends to construct a five-storey hotel with a two-storey basement under the Moxy brand name, a segment falling under Marriott's millennial-focused brand (Moxy Niseko).
Scheduled for completion by the fourth quarter of 2026, Moxy Niseko will be leased to YTL Corp Bhd under a flexible rental agreement, strategically positioning YTL REIT to partake in the operational proceeds generated by the establishment, thereby augmenting its earnings and distributable income.
