10-12 May 2024
China Import & Export Fair Complex,
Guangzhou,
China
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13-16 May 2024
Conrad Chia Laguna Sardinia ,
Italy
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14 May 2024
JPMorgan Chase Headquarters,
New York City,
United States
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18-22 May 2024
The Ravenala Attitude Hotel,
Mauritius
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23-24 May 2024
Large Hall of the Chamber of Commerce (Erbprinzenpalais),
Wiesbaden,
Germany
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30-30 May 2024
Four Seasons Hotel George V,
Paris,
France
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30 May - 02 Jun 2024
Rimini Exhibition Center,
Rimini,
Italy
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06-07 Jun 2024
Sataman Viilu ,
Jyväskylä,
Finland
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Japanese onsen operator to be bought by US private equity firm ahead of Tokyo Olympics 2020 |
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By Helen Andrews 20 Feb 2015 |
At Ooedo-Onsen-Monogatari, there is a traditional-style street with attractions based on the days when Tokyo was known as Edo Credit: Ooedo-Onsen-Monogatari
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Japanese hotel and spa operator Ooedo-Onsen Holdings is being bought by US private equity firm Bain Capital Partners in a bid to capitalise on tourism ahead of the Tokyo 2020 Olympic Games.
Bain will buy out shareholders in the Japanese company, including its president, for an undisclosed sum.
In a statement, Bain said Ooedo-Onsen sales have risen approximately 30 per cent annually since 2007. Best known for its Ooedo-Onsen-Monogatari “spa themepark” on the man-made island of Odaiba in Tokyo Bay, the firm expects revenue of about JPY35bn (US$294m, €258m, £190m) for the fiscal year ending in February, derived from its 29 hotels and spas nationwide.
The Ooedo-Onsen-Monogatari facility opened in 2003 and includes Japanese-style buildings with baths fed by natural hot springs starting 1,400m underground, in addition to open-air baths, a garden footbath and many other hot spring baths. There is also a traditional-style street with attractions based on the days when Tokyo was known as Edo. This street hosts massage parlours, events and entertainment, accommodation, fortune-telling, restaurants and other cultural leisure offerings.
Japan is seeking to raise the number of foreign tourists by relaxing some visa regulations and extending the sale of tax-free items, according to Reuters.
The Japan National Tourism Organisation measured a record 13.4m foreigners visiting Japan in 2014, a 29 per cent increase from 2013. The government has also set a target of 20m visitors a year by 2020 when Japan will host the Olympic Games in venues across the capital.
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1 to 12 of 8714 news stories |
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07 May 2024
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03 May 2024
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27 Apr 2024
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The US spa industry is continuing its upward trajectory, achieving an unprecedented milestone with a record-breaking revenue of US$21.3 billion in 2023, surpassing the previous high of US$20.1 billion in 2022. This data stems from ... More
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