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Kiroro Ski Resort in Hokkaido Changes Owner and is to be Expanded
Thai developer Property Perfect Plc has purchased Kiroro Ski Resort in Hokkaido, Japan, and now is planning to invest 3 billion baht into its development.
The new owner plans to build a series of villas and condominiums, and hopes to attract more Asian tourists to the ski resort. The previous owner of Kiroro Ski is Mitsui Group. Property Perfect is very pleased with the purchase and the price of takeover, telling it was inexpensive. The company mentioned good business ties between Japan and Thailand, and hopes to run business smoothly.
The resort is a large complex that consists of two hotels, a dormitory for youth, and all necessary infrastructures for skiing, and everything is in working condition. Property Perfect will also add villas (60 units) and condominiums (150 units). The development will start already next year. The resort is expected to start bringing profit from 2014. The expected net margin from hotels in Hokkaido is approximately 5-10%.
During the building works both hotels of the resort, Hotel Piano and Mountain Hotel, will keep serving guests. The accommodations have 282 and 140 guestrooms respectively. According to the new owner, the hotels are in good state and they will not be closed for reconstruction. One of strong points of the resort is the fact it can be used in all four seasons. In summer this is a great place for camping and trekking.
Property Perfect forecasts growth of tourist market of Hokkaido as the place is visited by more tourists from China, Taiwan, South Korea, Hong Kong and even Australia. In 2009 the island was visited by 600,000 visitors, almost 80% of which were tourists from Asia and Australia. This year the island is expected to be visited by almost 800,000 visitors. The new owner plans to attract more international visitors and is particularly interested in visitors from Southeast Asia.
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