CDL acquires 256-room Osaka hotel for $78.5 mil

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CDL has acquired Bespoke Hotel Osaka Shinsaibashi in Japan for 8.5 billion yen ($78.5 million). The 256-room lifestyle hotel, located in Osaka’s Shinsaibashi commercial district, is CDL’s third hotel acquisition in 2023.

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The acquisition comes at an opportune time as Japan’s tourism industry has experienced a strong rebound since the pandemic. Furthermore, the city of Osaka is expected to see higher levels of tourism due to various upcoming events and attractions, such as the World Expo in 2025 and the MGM Integrated Resort in 2030.

Located within walking distance to several popular shopping districts and malls, including the famous Midosuji Avenue and Shinsaibashi-Suji, the Bespoke Hotel Osaka Shinsaibashi presents an ideal location from which to capitalize on the city’s flourishing tourism industry. The Nagahoribashi and Shinsabashi stations are also just a four-minute and six-minute walk away respectively.

Kwek Leng Beng, CDL’s executive chairman, commented, “This investment is aligned with our group’s strategy to actively grow and diversify our global real estate portfolio. We already own the 329-room Millennium Mitsui Garden Hotel in Tokyo Ginza and other rental apartment assets in Yokohama and Osaka, and this acquisition further strengthens our foothold in Japan.”

CDL is sure to benefit from owning this prime asset as Osaka continues to evolve as an increasingly attractive travel destination. With Universal Studios Japan, the world’s third-most visited theme park in 2022, as well as the estimated 30 million visitors expected to attend the 2025 World Expo, there is great potential for the group to capitalize on the rising tourism trend. In combination with the MGM Integrated Resort – set to open in 2030 – many more tourists are set to flock to the city in the years ahead.