Okura Obtains Controlling Interest in Nikko/JAL Hotels
In what many hotel industry analysts had pegged as a likely takeover target for global hotel players has turned into a domestic play with Hotel Okura now taking a leading ownership role in JAL Hotels.
Back of much speculation when Japan Airlines entered into bankruptcy proceedings early this year, the hospitality arm with brands Nikko and JAL City who have 60 properties in operation drew considerable interest.
The new marriage pairs Okura's 40 hotels into a larger group. In Thailand the TCC group is developing an Okura in Bangkok at a strategic location on Wireless Road and Sukhumvit which is set to open in 2012.