TOKYO—CBRE has successfully arranged the sale of the 703-room Tokyo Bay Maihama Hotel Club Resort, to Hulic Corp. CBRE Hotels represented the seller in the sale, which closed late last month.
The Tokyo Bay Maihama Hotel Club Resort is one of Tokyo Disney Resort’s official hotels, located a four-minute walk from Bayside Station on the Tokyo Disney Resort Line. It has 12 stories above ground and one below, with 726,434 square feet of floor space for guest rooms, wedding facilities, and one of the largest event halls in the area. Tokyo Bay Hotels Corporation has a block lease for the property under a fixed-term lease contract.
The CBRE Hotels team consisted of Kiyoshi Tsuchiya, director of CBRE Hotels, Japan, and Arthur Buser, APAC executive managing director of CBRE Hotels.
“The Japanese hotel market is seeing good momentum due to active investment in the Japanese real estate market, expectations for the Tokyo Olympics and the increase in inbound tourism, and has continued to draw strong interest from domestic and international investors since last year,” says Tsuchiya. “Given the strong performance of Tokyo Disney Resort, there are strong expectations for Tokyo Bay Maihama Hotel Club Resort’s business. You could say this transaction is symbolic of the brisk investment activity now trending in this market.”
Looking at other sales that the team has arranged, Tsuchiya adds, “we expect the current trend of cap rate compression to continue alongside a firm investment trend in the hotel market. We are pleased that CBRE Hotels has had the opportunity to arrange this sale and contribute to the further development of the hotel industry.”
CBRE Hotels is a specialized advisory group within CBRE Group, Inc. providing brokerage, valuation and capital markets services to companies in the hotel sector. CBRE Hotels is comprised of over 150 dedicated hospitality professionals located in 37 offices across the globe.