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SINGAPORE

Japan to welcome its first BVLGARI Hotel in Tokyo

JLL advised Mitsui Fudosan on selection of hotel operator


SINGAPORE, 30 April 2018 – Mitsui Fudosan Co., Ltd, a leading global real estate company headquartered in Tokyo, has entered into an agreement with hotel operator Bvlgari. JLL Hotels & Hospitality Group has advised on the contract negotiation process on behalf of the owner.

 

The first Bvlgari hotel in Japan, Bvlgari Hotel Tokyo will be fully integrated into a large scale, mixed-use development to be located at Tokyo Station, one of Japan's most prestigious business districts.

 

"In line with the Japanese government's efforts to improve Tokyo's competitiveness and position it as a global city, we have seen an increasing number of large scale redevelopments comprising of luxury hotels, that adds significant premium value to these projects," says Tomohiko Sawayanagi, International Director, Head of Japan, JLL Hotels & Hospitality Group. "Known for its reputation for Italian excellence and magnificent jewelry creations, the first Bvlgari-branded hotel is uniquely different from the existing and upcoming luxury hotels in Tokyo."

 

Scheduled to open at the end of 2022, the hotel will occupy the top seven floors (levels 39 to 45) of an ultra-skyscraper planned for construction in the Yaesu 2-Chome North District, as part of the redevelopment project plan approved by the Tokyo Metropolitan Government in January this year.

 

Like all Bvlgari Hotels and Resorts, the Bvlgari Hotel Tokyo will be designed by Italian architectural firm Antonio Citterio Patricia Viel to showcase Bvlgari's core values of contemporary design, craftsmanship and artistic detail to create efficient living spaces. The hotel will offer 98 guest rooms and is expected to capture demands from both domestic and international high net worth travelers.

 

Mr Sawayangagi adds: "Tokyo has recorded strong year-on-year growth of inbound visitors in 2017 and this positive performance is expected to continue. With the surge in tourism, Tokyo will start seeing an increase in luxury hotel developments like this."

 

JLL Hotels & Hospitality Group has been actively involved in the development of new hotels and resorts as well as the redevelopment of existing hotels in Japan. Most recently, JLL advised on behalf of Mitsui Fudosan on the contract negotiation of Four Seasons Hotel Tokyo, a flagship property to be developed in a mixed-use development located at Otemachi.

 

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. A Fortune 500 company, JLL helps real estate owners, occupiers and investors achieve their business ambitions. In 2017, JLL had revenue of $7.9 billion; managed 4.6 billion square feet, or 423 million square meters; and completed investment sales, acquisitions and finance transactions of approximately $170 billion. At the end of 2017, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of 82,000. As of December 31, 2017, LaSalle had $58.1 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.


JLL has over 50 years of experience in Asia Pacific, with over 37,000 employees operating in 96 offices in 16 countries across the region. The firm won the 'World's Best' and 'Best in Asia Pacific' International Property Consultancy at the International Property Awards in 2016 and was named number one real estate investment advisory firm in Asia Pacific for the seventh consecutive year by Real Capital Analytics.  www.ap.jll.com.