Ace Hotel to Enter Kyoto Market
Japan’s growing tourism attract international hospitality companies and investors. Making Luck and Making Relationships
Wednesday, May 2nd 2018
American brand, Ace Hotel has announced its first branch in Kyoto, Japan. They will be collaborating with NTT Urban Development Corporation and Kengo Kuma to redevelop Kyoto Central Telephone Office, originally built in 1920. The hotel will have 213 keys, with two basement levels, and seven floors. It will incorporate the red brick from the original building, as well as maintain part of the charm of the existing courtyard. Wood and natural elements will also be added to give it a classical Kyoto appeal. “Every detail and material was thought through to connect the building, land and history together,” says Kuma.
As stated in their press release opening, “Since the beginning of Ace, we’ve dreamt of Japan. We’ve spent decades admiring Japanese culture and craftsmanship, collaborating from afar with Japanese artists and brands whose work we love — BEAMS, Porter, Isetan, Takahiro Miyashita of Number (N)ine, Kenzo Minami, Hender Scheme and Traveler’s Company, to name a few, hoping for the chance to put down roots.”
During Asterisk Realty’s interview with Brad Wilson, President of Ace Hotel, for Property Management Magazine in December 2013, Brad expressed his interest in entering the Japan market, and expanding the Ace Hotel Brand. Despite how popular the Ace Hotel brand is with the Japanese market, it took many years until Ace Hotel was finally able to cross all the hurdles necessary to enter Japan.
For this reason, having both a concrete strategy, as well as local partners when entering the Japan market is extremely important, as opportunities to invest/ enter as an operator are extremely limited and the interest is high.