Hong Kong, China, February 22, 2016 – Marriott International, Inc. (NASDAQ: MAR) and Japan’s leading lodging company Mori Trust Group today announced the signing of five hotels in Japan under the iconic Marriott Hotels brand. The agreements for five Mori Trust hotels will see Marriott International double the footprint of its flagship Marriott Hotels brand in Japan, and will increase its Japanese presence by one-third as the company reaches its 20th property, upon completion of the rebranding of all hotels.
Over the next two years, Mori Trust Group will renovate five existing Laforet properties and rebrand them as Marriott Hotels, offering approximately 840 rooms. The agreements between the two companies extend a relationship that has seen the successful opening of the Tokyo Marriott Hotel, Courtyard by Marriott Tokyo Station Hotel and Courtyard by Marriott Shin-Osaka Station Hotel. Both companies look forward to further expanding their partnership.
The five rebranded hotels – Lake Biwa Marriott Hotel (formerly Laforet Biwako), Nanki-Shirahama Marriott Hotel (formerly Laforet Nanki-Shirahama), Fuji Marriott Hotel (formerly Laforet Yamanakako), Izu Marriott Hotel Shuzenji (formerly Laforet Shuzenji), and Karuizawa Marriott Hotel (formerly Laforet Naka-Karuizawa) – are all located in Japan’s most scenic destinations. They are part of the large-scale hotel renovation plan announced by Mori Trust Group in October 2015 and an investment of approximately 16 billion yen. The agreements also demonstrate Mori Trust Group’s effort in supporting the Abe administration’s “Regional Revitalization” initiative, which stresses the growing importance of tourism in the economy.
These agreements are part of Marriott International’s strategic expansion plans across Asia and aim to meet the needs of the rapidly growing number of inbound travelers into Japan.
Speaking at the signing ceremony in Tokyo today, Craig S. Smith, President & Managing Director of Marriott International, Asia Pacific said: “We are delighted to work with Mori Trust again. As the world’s third largest outbound travel destination and a key source market for Marriott International, Japan is very important for us.
Marriott Hotels is our company’s flagship brand and most suitable for such a venture. The agreements not only boost our footprint by one-third, but also cater to the next generation of travelers, especially those who are increasingly interested in exploring beyond the traditionally popular cities of Japan.”
Mori Trust Group is a leading real estate company in Japan. As the owner and operator of the Laforet Hotels & Resorts hotel chain, it currently has 32 properties offering 7,200 rooms in prime city sites and carefully selected resort areas throughout the country. The company runs a diversified hospitality business encompassing development, management, operations, investment, consulting and partnerships.
Miwako Date, Executive Managing Director of Mori Trust Group and President and Chief Executive Officer of Mori Trust Hotels & Resorts Co., Ltd. said: “Following the success of Tokyo Marriott Hotel, Courtyard Tokyo Station, and Courtyard Shin-Osaka Station, we are delighted to see our strategic collaboration with Marriott International grow even stronger with this new partnership. Mori Trust Group hopes to add value to each destination by merging the essence of Marriott Hotels with the regions’ natural resources, culture and history, to better showcase them to both domestic and global travel markets.”
Guests of the five rebranded hotels in Japan will have access to Marriott International’s award-winning loyalty program, Marriott Rewards. Mori Trust Group operates Japan’s leading corporate membership club named Laforet Club with a network of 10 million individual members.
Marriott International currently runs 15 hotels in Japan spanning five brands, which are The Ritz-Carlton, Marriott Hotels, Renaissance, Courtyard, and Autograph Collection Hotels.
