Seibu Railway Co. said Wednesday its group has chosen to reconstruct itself under a holding company, deviating from an earlier plan for the railway to absorb other key group members.
The holding company will own Seibu Railway and a new firm emerging from a merger between Prince Hotels Inc. and Kokudo Corp., it said.
The new hotel and resort firm will absorb some hotels now run by Seibu Railway, while Makuhari Prince Hotel in the city of Chiba and the Yokohama Prince Hotel will be sold, it said.