TOKYO, Mar 12 (Pulse News Wire) – THE Royal Hotel,limited (9713.T) announced today that its board of directors met, and approved the signing of a basic agreement for a new hotel project in Chitose Station area. The hotel, tentatively named "Chitose Ekimae," will feature a ten-story building with underground parking and is scheduled to open in late March 2029.
Key details of the agreement include: - Lease term: 20 years - Location: Hokkaido Chitose Shi Suehiro 6-chome 12-ban - Structure: Reinforced concrete (RC) construction - Lease commencement: December 2028 (tentative) The lease amount for the property will exceed the equivalent of 30% of the company's consolidated net assets from the previous fiscal year. However, due to confidentiality agreements, the exact figures and identity of the lessor remain undisclosed.
Additionally, the company confirmed that there are no capital, personal, or transactional relationships with the lessor, who is also verified as non-criminal. The company plans to sign the preliminary reservation contract in April 2027 and finalize the lease agreement by December 2028.
Any future developments impacting the company’s performance will be promptly disclosed.
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