SINGAPORE and HONG KONG, Sept. 4, 2013 /PRNewswire/ — Trailing the purchase of the second tallest building-Iconic Skyscraper Rinku Gate Tower in Japan in January 2013, SiS International Holdings Limited (SEHK: 00529), an investment Holding Company and a leading Technology Products distributor in Asia announced today that its indirect wholly – owned subsidiary, SiS Japan Inn had signed an agreement for the acquisition of the trust beneficial interests of five (5) hotel properties in Japan at a total consideration of JPY6,433,900,000 (Approximately SGD82,354,000).
- 284 Rooms Toyoko Inn Naha Asahi-bashi Ekimae, Naha city, Okinawa
- 422 Rooms Toyoko Inn Kanazawa Kenrokuen Korinbo, Kanazawa city, Ishikawa
- 347 Rooms Toyoko Inn Shonan Hiratsuka-eki Kitaguchi No.1, Hiratsuka city, Kanagawa
- 194 Rooms Toyoko Inn Niigata Furumachi, Niigata city, Niigata
- 139 Rooms Toyoko Inn Tokushima Ekimae, Tokushima city, Tokushima
SiS continues to grow its real estate portfolios. The purchase included five hotel properties with a total of 1386 rooms spanning across various cities in Japan and are well located in Okinawa, Ishikawa, Kanagawa, Niigata & Tokushima respectively. Nestled at convenient and strategic locations makes them attractive destinations for both leisure and business travelers.
“We are very pleased to have acquired these five well-located assets in Japan which further entrenched our presence in Japan. Japan has been enjoying positive growth in the recent months. We are encouraged by the growth opportunities particularly given Japan‘s economic recovery slated for the next several years,” said Mr. KH Lim, Chairman & Chief Executive Officer of SiS.
This is going to be another exciting transformation of SiS Group; similar to other projects the Group is undertaking. “Given Japan‘s economic recovery and accelerated spending with increase consumer confidence, SiS will seek to grow through strategic acquisitions. The acquisition of these hotel properties gave us the opportunity to build on the momentum as it provides a steady income stream to the Group; in line with the Group’s strategy of investing in income generating properties or properties with potential long term appreciation in property value,” continued Mr. Lim.