Marriott And KKR Collaborate To Introduce Affordable Midscale Hotels In Japan With Four Points Express, Converting 14 Properties
Portfolio Pulse from Benzinga Newsdesk
KKR and Marriott International, Inc. (NASDAQ:MAR) have announced a collaboration to enter the midscale hospitality market in Japan by converting 14 properties into Four Points Express by Sheraton hotels. This move follows KKR's acquisition of Unizo Hotel Company, Limited and its portfolio of 14 hotels from Unizo Holdings, marking Marriott's debut in the affordable midscale segment in Asia Pacific.
May 07, 2024 | 8:09 am
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Marriott International's collaboration with KKR to convert 14 hotels into Four Points Express by Sheraton in Japan represents its entry into the affordable midscale market in Asia Pacific.
Entering the midscale segment in Asia Pacific, particularly in Japan, with a significant number of properties (14 hotels) through a partnership with a major investment firm like KKR, is likely to positively impact Marriott's brand presence and financial performance in the region. This strategic move taps into a growing segment, potentially increasing Marriott's market share and revenue in the short term.
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