Hotel Transaction Record in Japan
Please click the link below to view hotel real estate sales transactions in Japan from 2002 – 2007.
| (Publicly Announced Transactions Only) |
| Date | Property Name | Property Type | Location | No. of Rooms | Estimated Price | Price per Room | Seller | Buyer |
| Dec-07 | Hotel Avanshell Akasaka | Downtown / Mid-price | Minato-ku , Tokyo | 71 | JPY 4,200,000,000 | JPY 59,154,930 | FC Residential Investment Corp. | Akasaka Hotel Management |
| Dec-07 | Hotel Serai Fukuoka | Downtown / Economy | Fukuoka , Fukuoka | 175 | JPY 1,823,000,000 | JPY 10,417,143 | Nakano Corp. | Ishin Hotels |
| Dec-07 | Hotel Nikko Ibaraki Osaka | Downtown / Mid-price | Ibaraki , Osaka | 103 | JPY 2,600,000,000 | JPY 25,242,718 | eAsset Investment Corp. | Asset Managers Group |
| Dec-07 | Hotel Sunroute Ikebukuro | Downtown / Mid-price | Toshima-ku , Tokyo | 175 | Unknown | Unknown | Unknown | Ishin Hotels |
| Nov-07 | Hamilton Inn Ochanomizu | Downtown / Mid-price | Chiyoda-ku , Tokyo | 72 | Unknown | Unknown | Shiroishi Kosan | Ishin Hotels |
| Oct-07 | Okinawa Kariyushi Urban Resort Naha | Resort | Naha , Okinawa | 238 | Unknown | Unknown | Tomarin | Mitsui Fudosan |
| Oct-07 | Fusaki Resort Village | Resort | Ishigaki , Okinawa | 151 | Unknown | Unknown | Showa Sogo Kanri | Aetos |
| Oct-07 | City Hirosaki Hotel | Downtown / Economy | Hirosaki , Aomari | 141 | Unknown | Unknown | TC Properties | Arealink |
| Sep-07 | Hotel Ascent Fukuoka | Downtown / Mid-price | Fukuoka , Fukuoka | 263 | Unknown | Unknown | Unknown | Tokyu Land |
| Sep-07 | Comfort Hotel Shin Yamaguchi | Downtown / Mid-price | Yamaguchi , Yamaguchi | 139 | JPY 866,000,000 | JPY 6,230,216 | Yahagi Jisho | Nippon Hotel Fund REIT |
| Sep-07 | Oriental Hotel Yokohama Kaiyotei | Downtown / Up-scale | Yokohama , Kanagawa | 60 | JPY 3,100,000,000 | JPY 51,666,667 | Keihin Kaihatsu Kogyo | Best Bridal |
| Sep-07 | Asahikawa Grand Hotel | Downtown / Mid-price | Asahikawa , Hokkaido | 237 | Unknown | Unknown | Nippon Paper | Daiwa SMBC Principal Investments |
| Sep-07 | Toranomon Pastoral Hotel | Downtown / Luxury | Minato-ku , Tokyo | 313 | JPY 230,899,000,000 | JPY 737,696,486 | Mutual Aid Association of Agriculture , Forestry and Fishery Corp. | Mori Trust , DaVinci Advisors |
| Aug-07 | Hotel Atoll Emerald Miyakojima | Resort | Miyakojima , Okinawa | 137 | Unknown | Unknown | Miyakojima Marine Terminal | Route Inn |
| Aug-07 | Oriental Hotel Hiroshima | Downtown / Up-scale | Hiroshima , Hiroshima | 251 | JPY 9,900,000,000 | JPY 39,442,231 | Toriizaka Kaihatsu | Japan Hotel and Resort REIT |
| Aug-07 | Akita Washington Hotel | Downtown / Up-scale | Akita , Akita | 391 | Unknown | Unknown | Fujita Kanko | Glocul Hotel Group |
| Aug-07 | Hotel Castle | Downtown / Mid-price | Yamagata , Yamagata | 159 | Unknown | Unknown | Hotel Castle | Ken Corporation |
| Aug-07 | Hashimoto City Hotel | Downtown / Economy | Sagamihara , Kanagawa | 95 | JPY 1,510,000,000 | JPY 15,894,737 | Capital Advisors (Main) | Nippon Hotel Fund REIT |
| Jul-07 | Kiroro Resort | Resort | Yoichi , Hokkaido | 505 | JPY 4,050,000,000 | JPY 4,192,546 | Yamaha | Mitsui Fudosan |
| Toba Hotel International | Resort | Toba , Mie | 129 | |||||
| Nemunosato | Resort | Shima , Mie | 192 | |||||
| Haimurubushi | Resort | Yaeyama , Okinawa | 140 | |||||
| Jun-07 | Hotel Tokyo | Downtown / Economy | Minato-ku , Tokyo | 24 | Unknown | Unknown | Haseko Corp. | Marks Trust |
| Jun-07 | Acera Hotel Sendai | Downtown / Mid-price | Sendai , Miyagi | 80 | Unknown | Unknown | Hot House | APA Group |
| Jun-07 | Hotel Tamaki | Downtown / Economy | Naha , Okinawa | 72 | Unknown | Unknown | Tamaki | DaVinci Advisors |
| Jun-07 | Kampo Health Club Hiroshima | Resort | Hiroshima , Hiroshima | 64 | JPY 1,000,000,000 | JPY 15,625,000 | Japan Post | Tokyo Kanko |
| Jun-07 | Tazawako Prince Hotel | Resort | Senboku , Akita | 40 | Unknown | Unknown | Seibu Holdings | Nanki Kanko |
| Jun-07 | Nojiriko Prince Hotel | Resort | Nojiri , Nagano | 60 | Unknown | Unknown | Seibu Holdings | Koyano |
| Jun-07 | Tokushima Prince Hotel | Downtown / Mid-price | Tokushima , Tokushima | 211 | Unknown | Unknown | Seibu Holdings | Route Inn |
| Jun-07 | Aso Prince Hotel | Downtown / Mid-price | Aso , Kumamoto | 180 | Unknown | Unknown | Seibu Holdings | Route Inn |
| Jun-07 | ANA Inter Continental Tokyo | Downtown / Up-scale | Minato-ku , Tokyo | 873 | JPY 281,300,000,000 | JPY 56,203,796 | ANA | Morgan Stanley |
| The Strings Hotel Tokyo | Downtown / Up-scale | Minato-ku , Tokyo | 206 | |||||
| ANA Hotel Osaka | Downtown / Up-scale | Osaka , Osaka | 493 | |||||
| ANA Hotel Narita | Airport / Up-scale | Narita , Chiba | 396 | |||||
| ANA Hotel Sapporo | Downtown / Up-scale | Sapporo , Hokkaido | 412 | |||||
| ANA Hotel Chitose | Airport / Up-scale | Chitose , Hokkaido | 288 | |||||
| ANA Hotel Toyama | Downtown / Up-scale | Toyama , Toyama | 251 | |||||
| ANA Hotel Kanazawa | Downtown / Up-scale | Kanazawa , Ishikawa | 254 | |||||
| ANA Hotel Hiroshima | Downtown / Up-scale | Hiroshima , Hiroshima | 409 | |||||
| ANA Hotel Hakata | Downtown / Up-scale | Fukuoka , Fukuoka | 355 | |||||
| Manza Beach Hotel & Resort | Resort | Onna , Okinawa | 399 | |||||
| Okinawa Harborview Hotel | Downtown / Up-scale | Naha , Okinawa | 352 | |||||
| Ishigaki ANA Hotel & Resort | Resort | Ishigaki , Okinawa | 317 | |||||
| May-07 | Kijima Korakuen Hotel | Resort | Beppu , Oita | 71 | Unknown | Unknown | Tokyo Dome | Morgan Stanley |
| Bato korakuen Golf Course & Hotel | Resort | Nakagawa , Tochigi | 73 | |||||
| Maiko Korakuen Hotel | Resort | Minamiuonuma , Niigata | 62 | |||||
| May-07 | Okushiga-Kogen Hotel | Resort | Shimotakai , Nagano | 74 | Unknown | Unknown | Nagano Electric Railway | Unified Partners |
| May-07 | Muroran Palace Hotel | Downtown / Mid-price | Muroran , Hokkaido | 60 | Unknown | Unknown | Muroran Daiichi Hotel | Route Inn |
| Mar-07 | Hakodate Harborview Hotel | Downtown / Up-scale | Hakodate , Hokkaido | 200 | Unknown | Unknown | JTB | Lone Star |
| Mar-07 | Minakami Kogen Prince Hotel | Resort | Minakami , Gunma | 212 | Unknown | Unknown | Seibu Holdings | Citi Group |
| Mar-07 | Ajigasawa Prince Hotel | Resort | Ajigasawa , Hokkaido | 188 | ||||
| Mar-07 | Niseko Higashiyama Prince Hotel | Resort | Niseko , Hokkaido | 706 | ||||
| Mar-07 | Hotel Sendai Plaza | Downtown / Up-scale | Sendai , Miyagi | 177 | JPY 2,950,000,000 | JPY 16,666,667 | Hotel Sendai Plaza | MRM Hotel SPC / MILLEA Group |
| Mar-07 | Hotel Hokke Club Sendai | Downtown / Mid-price | Sendai , Miyagi | 150 | Unknown | Unknown | Yamaman | Dolphin |
| Mar-07 | Awaji Island International Hotel Arex | Resort / Mid-price | Sumoto , Hyogo | 115 | Unknown | Unknown | Awaji Island International Hotel Arex | Hotel New Awaji |
| Mar-07 | JAL Resort Sea Hawk Hotel Fukuoka | Resort / Up-scale | Fukuoka , Fukuoka | 1052 | Unknown | Unknown | Colony Capital | GIC Real Estate |
| Mar-07 | Hotel Nikko Tokyo (48.55% equity) | Downtown / Up-scale | Minato-ku , Tokyo | 453 | 23,000,000,000- | Japan Airline | Aetos | |
| Hotel Nikko Tokyo (48.55% equity) | 23,000,000,000- | Itochu Corp. | Aetos | |||||
| Mar-07 | Sheraton Grande Tokyo Bay Hotel | Resort / Up-scale | Urayasu , Chiba | 802 | Unknown | Unknown | Taisei Corp. | Margan Stanley & Starwood Hotels & Resorts |
| Mar-07 | OAK PLAZA (Hotel Mystays) | Downtown / Up-scale | Chiyoda-ku , Tokyo | 142 | JPY 2,590,000,000 | JPY 18,239,437 | New Japanese Urban Development | TOP REIT, Inc. |
| Mar-07 | Hotel Nikko Annupuri (56.8% equity) | Resort | Niseko , Hokkaido | 155 | Unknown | Unknown | Japan Airline | Meiji Shipping |
| Mar-07 | R&B Hotel Ueno Hirokoji | Downtown / Economy | Taito-ku , Tokyo | 187 | JPY 1,720,000,000 | JPY 9,197,861 | Ando Corp , Seiwa Sogo Tatemono | Nippon Hotel Fund REIT |
| Mar-07 | Hotel Nikko Naha Grand Castle | Resort / Up-scale | Naha , Okinawa | 333 | JPY 15,000,000,000 | JPY 19,920,318,725 | Japan Airline | Lone Star |
| Feb-07 | Hotel Nikko Yaeyama | Resort / Up-scale | Ishigaki , Okinawa | 236 | ||||
| Feb-07 | JAL Private Resort Okuma | Resort / Up-scale | Kunigami , Okinawa | 184 | ||||
| Feb-07 | Cosmo Square Hotel & Congress | Downtown / Mid-price | Osaka , Osaka | 320 | JPY 3,600,000,000 | JPY 11,250,000 | Sumitomo Life Insurance | Karakami Kanko |
| Feb-07 | Sendai Hotel | Downtown / Mid-price | Sendai , Miyagi | 112 | JPY 1,000,000,000 | JPY 8,928,571 | R&J Sendai Ken Corporation Jyukyo | ORIX Real Estate |
| Feb-07 | Yushima Plaza Hotel | Downtown / Economy | Bunkyo-ku , Tokyo | 73 | Unknown | Unknown | Toho Shoji & Tokai Enterprise | Retec Consultamts |
| Feb-07 | Hotel Fair City | Downtown / Mid-price | Utsunomiya , Tochigi | 115 | Unknown | Unknown | Fair City | Ishin Hotels |
| Feb-07 | Daiwa Roynet Hotel Akita | Downtown / Mid-price | Akita , Akita | 221 | JPY 2,278,500,000 | JPY 10,309,955 | E-Hotels One SPC | Japan Hotel and Resort REIT |
| Feb-07 | Super Hotel Sendai Hirose-Dori | Downtown / Economy | Sendai , Miyagi | 180 | JPY 1,390,000,000 | JPY 7,722,222 | Super Hotel | Japan Single Residence REIT |
| Feb-07 | Kitagawa-Onsen Hotel | Resort | Higashi-Izu , Shizuoka | 35 | JPY 150,000,000 | JPY 4,285,714 | Unknown | Pal Active |
| Jan-07 | The President Hotel Aoyama | Downtown / Mid-price | Minato-ku , Tokyo | 210 | JPY 16,400,000,000 | JPY 78,095,238 | Chuo Bussan | DaVinci Advisors |
| Dec-06 | Roppongi Prince Hotel | Downtown / Mid-price | Minato-ku , Tokyo | 216 | JPY 40,700,000,000 | JPY 188,425,926 | Seibu Holdings | Sumitomo Fudosan |
| Nov-06 | Nasu Morinoie | Resort | Nasu , Tochigi | 22 | JPY 200,000,000 | JPY 9,090,909 | Adachi Ward | Siki Resorts |
| Nov-06 | Kita-Kyusyu Prince Hote; | Downtown / Mid-price | Kita-Kyusyu , Hukuoka | 220 | JPY 1,000,000,000 | JPY 4,545,455 | Mitubishi Chemical | Hotel Management International |
| Sep-06 | Hotel Season | Downtown / Economy | Mito , Ibaraki | 96 | JPY 500,000,000 | JPY 5,208,333 | Kamata Kosan | Yamanami Group |
| Sep-06 | Atsugi Royal Park Hotel | Downtown / Economy | Atsugi , Kanagawa | 156 | JPY 3,000,000,000 | JPY 19,230,769 | Ryouei Kanko Kaihatsu | Solare Hotels & Resortd , Star Capital |
| Aug-06 | Hotel Okura Kobe | Downtown / Mid-price | Kobe , Hyogo | 489 | JPY 19,000,000,000 | JPY 38,854,806 | AIG | Mori Trust REIT |
| Jun-06 | Star Hotel Tokyo | Downtown / Mid-price | Shinjyuku-ku , Tokyo | 214 | JPY 7,243,000,000 | JPY 33,845,794 | JHR Alpha | Nippon Hotel Fund REIT |
| Jun-06 | Kayabacho Pearl Hotel | Downtown / Economy | Chuo-ku , Tokyo | 268 | JPY 3,121,000,000 | JPY 11,645,522 | Hamatsucho Investment | Nippon Hotel Fund REIT |
| Jun-06 | Dormy Inn Suidobashi | Downtown / Economy | Bunkyo-ku , Tokyo | 99 | JPY 1,120,000,000 | JPY 11,313,131 | First Dormy In | Nippon Hotel Fund REIT |
| Jun-06 | Toyoka Inn Hakataekimae | Downtown / Economy | Fukuoka , Fukuoka | 257 | JPY 1,652,000,000 | JPY 6,428,016 | First Dormy In | Nippon Hotel Fund REIT |
| Jun-06 | Kamogawa Inn Nihonbashi | Downtown / Economy | Chuo-ku , Tokyo | 164 | JPY 2,108,000,000 | JPY 12,853,659 | JHR Alpha | Nippon Hotel Fund REIT |
| Jun-06 | R&B Hotel Higashi-Nihonbashi | Downtown / Economy | Chuo-ku , Tokyo | 203 | JPY 1,534,000,000 | JPY 7,556,650 | JHR Alpha | Nippon Hotel Fund REIT |
| Jun-06 | Dormy Inn Asakusa | Downtown / Economy | Taito-ku , Tokyo | 77 | JPY 999,000,000 | JPY 12,974,026 | JHR Alpha | Nippon Hotel Fund REIT |
| Jun-06 | Vista Hotel Kamara | Downtown / Economy | Ota-ku , Tokyo | 106 | JPY 1,512,000,000 | JPY 14,264,151 | Waina | Nippon Hotel Fund REIT |
| Jun-06 | Hotel Urban Inn kamata Annex | Downtown / Economy | Ota-ku , Tokyo | 70 | JPY 823,000,000 | JPY 11,757,143 | Kamani | Nippon Hotel Fund REIT |
| Jun-06 | Hotel Sunroute Niigata | Downtown / Economy | Niigata , Niigata | 231 | JPY 2,105,000,000 | JPY 9,112,554 | Second Dormy Inn | Nippon Hotel Fund REIT |
| Jun-06 | Dormy Inn Nanba | Downtown / Economy | Osaka , Osaka | 105 | JPY 1,270,000,000 | JPY 12,095,238 | Third Dormy Inn | Nippon Hotel Fund REIT |
| Jun-06 | Arimax Hotel 330 Sapporo | Downtown / Economy | Sapporo , Hokkaido | 117 | JPY 850,000,000 | JPY 7,264,957 | Third Dormy Inn | Nippon Hotel Fund REIT |
| Jun-06 | The Beach Tower Okinawa | Resort | Nakazu , Okinawa | 280 | JPY 7,610,000,000 | JPY 27,178,571 | Kyoritsu Maintenance | Nippon Hotel Fund REIT |
| Apr-06 | Kikunann Onsen Kanko Hotel | Resort | Kumamoto , Kumamoto | 86 | JPY 1,200,000,000 | JPY 13,953,488 | Kikunan Kanko | Marubi |
| Mar-06 | Yokohama Prince Hotel | Downtown / Mid-price | Yokohama , Kanagawa | 441 | JPY 15,000,000,000 | JPY 34,013,605 | Seibu Holdings | Unified Partners |
| Feb-06 | Kobe Meriken Park Oriental Hotel | Downtown / Up-scale | Kobe , Hyogo | 331 | JPY 11,400,000,000 | JPY 34,441,088 | Goldman Sachs | Japan Hotel and Resort REIT |
| Feb-06 | Shin-Urayasu Oriental Hotel | Downtown / Up-scale | Urayasu , Chiba | 506 | JPY 19,400,000,000 | JPY 38,339,921 | Goldman Sachs | Japan Hotel and Resort REIT |
| Feb-06 | Nanba Oriental Hotel | Downtown / Up-scale | Osaka , Osaka | 257 | JPY 16,700,000,000 | JPY 64,980,545 | Goldman Sachs | Japan Hotel and Resort REIT |
| Feb-06 | Hotel Nikko Alivila | Resort / Up-scale | Nakazu , Okinawa | 397 | JPY 19,700,000,000 | JPY 49,622,166 | Goldman Sachs | Japan Hotel and Resort REIT |
| Feb-06 | Nara Washington Hotel Plaza | Downtown / Mid-price | Nara , Nara | 204 | JPY 1,800,000,000 | JPY 8,823,529 | Endeavor Realty Fund | Japan Hotel and Resort REIT |
| Feb-06 | Hakata Nakasu Washington Hotel Plaza | Downtown / Mid-price | Fukuoka , Fukuoka | 247 | JPY 3,880,000,000 | JPY 15,708,502 | Endeavor Realty Fund | Japan Hotel and Resort REIT |
| Feb-06 | Hiroshima Washington Hotel Plaza | Downtown / Mid-price | Hiroshima , Hiroshima | 265 | JPY 7,000,000,000 | JPY 26,415,094 | Washington Hotel | Goldman Sachs |
| Jan-06 | Hotel Fujita Kyoto | Downtown / Mid-price | Kyoto , Kyoto | 189 | JPY 5,500,000,000 | JPY 29,100,529 | Fujita Kanko | Sekisui House |
| Jan-06 | Makuhari Prince Hotel | Downtown / Mid-price | Chiba , Chiba | 1001 | JPY 13,200,000,000 | JPY 13,186,813 | Seibu Railway Group | APA Group |
| Dec-05 | The Yokohama Novotel | Downtown / Up-scale | Yokohama , Kanagawa | 166 | JPY 3,000,000,000 (estimated) | JPY 18,072,289 | The Hotel Yokohama | Hotel Monterey Group |
| Sep-05 | Hotel Okuuchi Himeji | Downtown / Economy | Himeji , Hyogo | 286 | JPY 1,000,000,000 | JPY 3,496,503 | Unknown | Keio Kaihatsu |
| Jul-05 | Hotel Arthur Sapporo | Downtown / Up-scale | Sapporo , Hokkaido | 229 | JPY 1,300,000,000 | JPY 5,676,856 | Individual Investors | Ken Corporation |
| Apr-05 | Sakato Grand Hotel | Downtown / Economy | Sakato , Saitama | 22 | JPY 400,000,000 | JPY 18,181,818 | RCC | Local Community Company |
| Apr-05 | Yokosuka Prince Hotel | Downtown / Mid-price | Yokosuka , Kanagawa | 160 | JPY 1,700,000,000 | JPY 10,625,000 | Seibu Railway Group | Frontier First |
| Mar-05 | Hakuginya | Ryokan | Kaga , Ishikawa | 23 | JPY 245,000,000 | JPY 10,652,174 | RCC | Hoshino Resort |
| Mar-05 | Green Pia Onuma | Resort | Mori , Hokkaido | 82 | JPY 165,000,000 | JPY 2,012,195 | Japan Pension Fund | Local Community |
| Dec-04 | Akasaka Shanpia Hotel | Downtown / Mid-price | Minato-ku , Tokyo | 226 | JPY 3,500,000,000 (estimated) | JPY 7,559,000 | Toure Enterprise | Ishin Hotels |
| Otsu Shanpia Hotel | Downtown / Mid-price | Otsu , Shiga | 131 | |||||
| Shanpia Hotel Houfu | Downtown / Mid-price | Houfu , Yamaguchi | 106 | |||||
| Dec-04 | Pako Junior Susukino | Downtown / Economy | Sapporo , Hokkaido | 220 | JPY 2,500,000,000 | JPY 8,389,000 | Unknown | Ken Corporation |
| Hotel Iceberg | Downtown / Economy | Sapporo , Hokkaido | 78 | |||||
| Dec-04 | Okinawa Fuji Hotel | Downtown / Economy | Naha , Okinawa | 193 | JPY 1,000,000,000 | JPY 5,181,347 | Daiwa Land & Building | Ishin Hotels |
| Dec-04 | Kyoto Park Hotel | Downtown / Up-scale | Kyoto , Kyoto | 268 | JPY 4,000,000,000 | JPY 14,925,373 | Marutama Kanko | Morgan Stanley |
| Nov-04 | Westin Hotel Tokyo | Downtown / Luxury | Meguro , Tokyo | 438 | JPY 50,100,000,000 | JPY 114,383,562 | Sapporo Holdings | Morgan Stanley |
| Nov-04 | Kyoto Kokusai Hotel | Downtown / Economy | Kyoto , Kyoto | 274 | JPY 2,400,000,000 | JPY 8,759,124 | Fujita Kanko | Morgan Stanley |
| Oct-04 | Sengokuhara Prince Hotel | Resort / Luxury | Hakone , Kanagawa | 96 | JPY 3,000,000,000 | JPY 31,250,000 | Kokudo | Nissan Auto |
| Oct-04 | Toyo Hotel | Downtown / Economy | Asahikawa , Hokkaido | 104 | JPY 100,000,000 | JPY 961,538 | Lone Star | Palm Tree |
| Aug-04 | Nagoya Tokyu Hotel | Downtown / Mid-price | Nagoya , Aichi | 562 | JPY 10,579,000,000 | JPY 18,823,843 | Tokyo Express Railway Group | NK Realty |
| Aug-04 | Kyoto Tokyu Hotel | Downtown / Mid-price | Kyoto , Kyoto | 432 | JPY 3,221,000,000 | JPY 7,456,019 | Tokyo Express Railway Group | NK Realty |
| Apr-04 | Awazu Grand Hotel | Ryokan | Komatsu , Ishikawa | 99 | JPY 96,740,000 | JPY 977,172 | *Foreclosure | Toai Sangyo |
| Mar-04 | Sunmarina Hotel | Resort | Onna , Okinawa | 200 | JPY 2,600,000,000 | JPY 13,000,000 | Suruga Corporation | Raysam Research |
| Feb-04 | Sounkyo Kokusai Hotel | Downtown / Economy | Kamikawa , Hokkaido | 240 | JPY 240,000,000 | JPY 1,000,000 | Honma Kogyo Group | Noguchi Kanko |
| Feb-04 | Spauza Odawara | Resort | Odawara , Kanagawa | 167 | JPY 800,000,000 | JPY 4,790,419 | Employment & Ability Development Organization | Odawara City |
| Oct-03 | Hotel Princess Kyoto | Downtown / Economy | Kyoto , Kyoto | 219 | JPY 5,700,000,000 | JPY 26,027,397 | Kei Hotel Development | Kyocera Kosan |
| Apr-03 | Gifu Castle Hotel | Downtown / Economy | Gifu , Gifu | 116 | JPY 600,000,000 | JPY 5,172,414 | Dainippon Doboku | Chubu Hotel Systems |
| Mar-03 | Gifu Renaissance Hotel | Resort | Gifu , Gifu | 192 | JPY 1,500,000,000 | JPY 7,812,500 | Nagaragawa Messe Hotel Development | Kintetsu Hotel Systems |
| Jan-03 | Hakkeien | Ryokan | Izunagaoka , Shizuoka | 51 | JPY 1,000,000,000 | JPY 19,607,843 | Unknown | Nihon Jambo |
| Jul-02 | Suginoi Hotel | Resort | Beppu , Oita | 547 | JPY 2,200,000,000 | JPY 4,021,938 | Unknown | ORIX |






