Security service provider Secom Co. plans to sell its luxury hotel in Hokkaido — site of the Group of Eight summit in 2008 — to Meiji Shipping Co. in June, according to company officials.
The Windsor Hotel Toya Resort & Spa is scheduled to be transferred in late June for an undisclosed price to the maritime company, which manages two resort hotels and a golf course in Hokkaido.
The hotel, standing on a 921-hectare lot, has 386 guest rooms and a golf course. The resort sits beside Lake Toya, a major holiday destination.
"We decided to release the hotel as the asset may be better off with the management by an expert hotel operator. It would contribute more to the local economy," a Secom spokesman said.
Secom acquired the hotel in 2000 as a part of a fund management plan by its insurance subsidiary.
Meiji Shipping, originally a maritime freight operator, said the acquisition will "heighten the brand image" of its hotel business.
