Ichigo Hotel REIT Buys Hotel Emit Shibuya For 3.7 B Yen (US$34.12 M)
February 3, 2020- Ichigo Hotel continues to execute on its strategy to grow earnings and dividends for its shareholders.
As part of that strategy, Ichigo Hotel is today acquiring the HOTEL EMIT SHIBUYA near Shibuya Station, one of Tokyo’s top transportation hubs and retail and office centers, and one which is expected to attract many visitors during the Tokyo Olympics.
Ichigo Hotel will acquire the hotel at 11% discount to appraisal value using proceeds from the sale of the Hotel Premio Vista Kyoto announced in the August 27, 2019 release “Hotel Sale (Hotel Premio Vista Kyoto).” Today’s acquisition is forecast to increase Ichigo Hotel’s annual NOI by JPY 144 million.
