WASHINGTON HOTEL CORPORATION [4691.T]
TOKYO, Apr 14 (Pulse News Wire) – Washington Hotel Corporation (4691.T) announced today that its board of directors resolved to acquire land adjacent to its Washington R&B Hotel Nagoya Shinkansen-mae property. The acquisition aims to enhance the stability of operations and revenue base for the existing hotel by reducing rent expenses and securing asset stability.
The acquired land covers an area of 1227.93 square meters and is located in Naka-mura Ward, Nagoya City, near the company-owned building housing the hotel. The transaction will be funded entirely through internal resources. Details of the counterparty and the purchase price will not be disclosed due to the counterparty's request.
There are no capital, personal, or trading relationships between the company and the seller, nor are there any related party connections. Key milestones for the acquisition include: - Board resolution date: April 14, 2026 - Contract signing date: April 14, 2026 - Property handover date: April 15, 2026 Regarding future impacts, the company expects the acquisition to have a minor effect on the fiscal year ending March 2026 performance. The anticipated impact will be incorporated into the consolidated earnings forecast for the fiscal year ending March 2027, scheduled for release on May 14, 2026.
Any further significant developments will be promptly disclosed.
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