Int’l companies set sights on new hotel investment plans after Osaka casino approval

Following the approval of Japan’s first casino project in Osaka last year, international investment corporations are exploring new markets for hotel investments.

The Ascott Limited, a lodging company that is fully owned by CapitaLand Investment, seems to be looking for major hotel development prospects and is now in discussions with potential investors on investment opportunities.

Ascott Limited will investigate possible investment opportunities since the construction of an integrated resort in Osaka is anticipated to increase local demand for hotel rooms, according to Beh Siew Kim, Chief Financial & Sustainability Officer of CapitaLand Investment.

The US casino operator MGM Resorts International and local partner Orix Corp. are collaborating on the Osaka integrated resort (IR), which is anticipated to come with a price tag of around $13.5 billion. The casino will open for business in the autumn of 2030.

With a combined total of 2,500 guest rooms, the Osaka IR project includes hotels such as the MGM Osaka, MGM Villas, and the MUSIIB Hotel. The integrated resort will have a range of dining options, retail establishments, meeting spaces, a spa, and a fitness center. With the opening of its first casino, Osaka hopes to draw 20 million tourists annually, contributing to Japan’s long-term target of 60 million foreign visitors annually by 2030.

Original story by: Asia Gaming Brief