JAL Sells Percentage Stake in Hotel Subsidiary to Hotel Okura

Japan Airlines International (JALI), a subsidiary of Japan Airlines Corporation (JAL) is selling 79.6% of its shares in JAL Hotels (JHC) to Hotel Okura in a stock transfer agreement.

 The brand names of Hotel Nikko and Hotel JAL City will be retained with no change to the Mileage Program so hotel guests can  continue to accumulate miles and use JAL coupons at JHC hotels.

 Hotel Okura started with its first property - Hotel Okura Tokyo, in 1962 prior to the Tokyo Olympic Games. Since then, it has become a leader in its industry in Japan, operating a total of 21 hotels in major cities - 16 in Japan and 5 overseas, including at famous resort destinations.

Since its founding in 1970, JHC has become one of few Japanese hotel operators to develop into a major international franchise. It manages a total of 58 hotels (18,087 rooms) with 40 properties in Japan and 18 overseas, operating Hotel Nikko as its flagship brand and Hotel JAL City as a complementing chain of high quality business hotels.

JHC is slated to launch 6 new establishments in Asia - 5 within China and 1 in Vietnam; Hotel Nikko Wuxi (500 rooms) and Suzhou Qingshan Resort Hotel (90 rooms) will be inaugurated this year, while the Hotel Nikko Guangzhou (411 rooms), Hotel Nikko Xiamen (436 rooms) and Hotel Nikko Saigon (335 rooms) will open next year. The Hotel Nikko Suzhou (475 rooms) is scheduled to open by 2013.

 Outside of Asia, the five-stars Hotel JAL Tower Dubai (471 rooms) will become the first major Japanese-managed hotel in the United Arab Emirates when it opens this year.

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