GIC Acquires 16 Marriott-Run Japan Hotels for $800M

Seeking Alpha··JPSGUS·Read original
3▲0 ▼0Impact / 5
Summary · why it matters

Singapore's sovereign wealth fund GIC Pte. has reportedly acquired 16 hotels in Japan operated by Marriott International for about ¥125B, or $800M. The deal follows KKR's announcement last week that its managed funds had finalized the sale of a 16-hotel Japan portfolio operating under the Four Points Flex by Sheraton brand to a leading global institutional investor. Bloomberg reported that GIC took over the mid-range hotel chain as part of Japan's latest high-profile real estate deal.

Impact on assets 2

Aging Population▲ · 1 stocks
KKR & Co. Inc.
KKR
± MixedCapitalrelevance

KKR's managed funds finalized the sale of a 16-hotel Japan portfolio to an institutional investor, a real estate transaction for KKR.

Consumer Discretionary▲ · 1 stocks
Marriott International Inc
MAR
± MixedCapitalrelevance

Marriott operates the 16 Japan hotels acquired by GIC, but the deal is a real estate transaction rather than a Marriott-branded development.

Off-coverage companies 2

GIC Pte.Private± Mixed
Capitalrelevance

GIC acquired 16 Marriott-operated Japan hotels for about $800M, a real estate investment by the sovereign wealth fund.

Bloomberg L.P.Private± Mixed
relevance