The idea of Wakayama is to build a resort-style project taking account the natural tourist attractions that exist in the region
Japan.- Wakayama announced that it will launch a request for proposal (RFP) process in the spring of 2020. After this decision, they will select the operator of the development of an integrated resort (IR) in the region in the fall.
The IR basic concept of the Japanese prefecture was first announced by local authorities in 2018. The idea of Wakayama is to build a resort-style project taking account the natural tourist attractions that exist in the region, such as Shirahama and Mount Koya. The planned opening is in 2024.
The resort has a a lot of support in the prefecture. In the last assembly meeting in early december, it was determined that it would cost Wakayama JPY7.7 billion (U.S. $71 million) to purchase the ideal site for the IR. Then, a committee will evaluate IR operators and choose the best for the city. There are three companies that already showed interest in a Wakayama IR: Suncity Group, Bloomberry Resorts and Barrière.
This plan of launching everything next spring depends on the national government having completed its basic IR plan by January. It is expected the national government’s ended basic policy on IR to be announced in the first quarter of 2020.