Ascott Limited targets hotel investment growth in Osaka following Japan’s approval of its first integrated resort with a casino there.<\/p>\n\n\n\n\n\n\n\n
Japan.- Osaka is making waves in international investment circles as it gears up to host Japan’s first-ever integrated resort (IR).<\/p>\n\n\n\n
According to reports, Ascott Limited<\/strong>, a wholly owned accommodation business unit of CapitaLand Investment (CLI), has identified significant growth potential in the hotel accommodation sector. The company is currently in talks with potential investors regarding its investment plans, as reported by Asia Gaming Brief.<\/p>\n\n\n\n During a media inquiry in Yokohama,\u00a0Beh Siew Kim<\/strong>, CLI’s chief financial & sustainability officer, revealed that the construction of an IR in Osaka will likely drive local demand for hotel accommodations.\u00a0<\/p>\n\n\n\n She added that Ascott Limited will explore the investment opportunities that may arise from this development.\u00a0<\/p>\n\n\n\n MGM Resorts<\/strong>\u00a0has\u00a0partnered with Orix Corp<\/a>, a Japanese company, to develop the resort and casino. The IR is expected to cost around US$13.5bn and is scheduled to open in autumn 2030.\u00a0<\/p>\n\n\n\n The Osaka IR will comprise hotels and amenities such as MGM Osaka, MGM Villas, and the MUSIIB Hotel, with 2,500 guest rooms. It will also feature a variety of dining and food & beverage offerings, retail space, a spa, a fitness centre, and banquet halls.\u00a0<\/p>\n\n\n\n About 20 million people<\/strong> a year are expected to visit, including 6 million visitors from abroad, generating sales of JPY520bn annually, with JPY420bn coming from gambling revenue.<\/p>\n\n\n\n Originally, the prefectural government had envisaged the casino resort\u2019s inauguration in the autumn or winter of 2029. However, there was\u00a0a delay in getting approval from the central government<\/a>.<\/p>\n\n\n\n