Brief: Red Planet Japan concludes sale, leaseback transaction for 4 hotels

Metaplanet

16/03/2018 07:29

BANGKOK, March 16 (Reuters) - Red Planet Japan Inc  3350.T ,
the Tokyo Stock Exchange-listed subsidiary of Thailand's Red
Planet Hotels, announced on Friday an 11.77 billion yen ($111
million) sale and leaseback transaction with Goldman Sachs
involving four of its Japan hotels.
    * Red Planet has sold ownership rights to hotels in Asakusa,
Naha
and Nagoya and has simultaneously entered into a
lease-and-operate agreement with Goldman Sachs for an initial
period of 20 years.

    * "Japan is our fastest growing market. Through this
transaction,
we are able to accelerate the roll-out of Red Planet Hotels
across Japan to cater to the increasing numbers of discerning
guests," Tim Hansing, chief executive officer, Red Planet Japan
Inc, said.    

($1 = 105.9600 yen)

 (Reporting by Amy Sawitta Lefevre
Editing by Subhranshu Sahu)
 ((amy.lefevre@thomsonreuters.com; Tel: +66 26489737; Reuters
Messaging: amy.lefevre.thomsonreuters@reuters.net))