GREAT HOTEL SALE? Bankrupt Japan Airlines To Shed Hotel Assets
Back of the bankruptcy of national carrier Japan Airlines reports in the financial press point that the airline will be forced to liquidate non-core assets which speculation suggests would include its hotel management arm and owned properties.
Currently JAL Hotels Company Ltd. under its Nikko Hotels International operates 45 hotels with 16,186 rooms while domestic geared Hotel JAL City has 13 properties with 2,526 room. That comes up to a total of 58 hotels or 18,712 rooms.
While the Global Financial Crises (GFC) has seen muted merger and acquisition activity, all signs point to the prospects of this perhaps being the deal to be done in 2010.