Hoshino Resort Co., which has been operating luxury hotels for 109 years, wants to be as well known as Toyota Motor Corp. internationally, and President Yoshiharu Hoshino said Friday's real estate investment trust debut is a start.
"When I walk on the streets of New York or London, I see Toyota, Nissan and Honda cars driving around, but I don't spot any Japanese hotels," Hoshino, 53, said in Tokyo. "It's my dream to become one of the choices in the international tourism business."
Hoshino Resorts REIT Inc. will invest in Hoshino's three hotel brands, which are currently located only in Japan, after raising ¥10.2 billion in an initial public offering. The REIT will buy six hotels for ¥15 billion from the company, Hoshino said.