Far East Hospitality Trust expands into Japan with Sheraton hotel purchase

The company will acquire Four Points by Sheraton Nagoya for $52.8m.

Far East Hospitality Trust is expanding into Japan with the acquisition of Four Points by Sheraton Nagoya for $52.8m (JP¥6b) and an operating company, which will serve as the property's master lessee, for $0.4m (JP¥0.05b).

The purchase price of $52.8m (JP¥6b) represents a 23.0% discount on the independent valuation of $68.6m (JP¥7.79b).

Four Points by Sheraton Nagoya is a freehold 319-room upscale hotel property managed by Marriott International Inc.

The property also offers development potential, with 6,750 sqm of land currently leased to a car park operator. Subject to planning approval, this land can be repurposed for a new hotel.

Far East Hospitality Trust believes entering the Japanese market will allow it to tap into a new growth vector.

In 2024, Japan achieved a 47.1% year-on-year (YoY) growth in tourism, with 36.9 million international visitors. By 2030, Japan is targeting 60.0 million visitors and JP¥5.0T in tourism spending.

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