The Royal Hotel, Limited. cancelled the acquisition of 90% stake in real estate trust beneficiary right of land at 5-1-1 Nakanoshima, Kita-Ku, Osaka-Shi from Mori Trust Co., Ltd.
November 12, 2016
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The Royal Hotel, Limited. (TSE:9713) agreed to acquire 90% stake in real estate trust beneficiary right of land at 5-1-1 Nakanoshima, Kita-Ku, Osaka-Shi from Mori Trust Co., Ltd. for ¥27 billion on November 13, 2015. All funds for the acquisition of trust beneficiary right will be from loans. A resolution was passed by the Board of Directors of The Royal Hotel, Limited. The contract conclusion is scheduled on November 17, 2015 and the property transfer is scheduled on November 17, 2015.
The Royal Hotel, Limited. (TSE:9713) cancelled the acquisition of 90% stake in real estate trust beneficiary right of land at 5-1-1 Nakanoshima, Kita-Ku, Osaka-Shi from Mori Trust Co., Ltd. on November 13, 2016.
The Royal Hotel Ltd is a Japan-based company engaged in the hotel business. The Company is engaged in the operation of hotels centered on customer accommodation, food and drinks, rental seats, the hotel-related business, as well as management guidance for subsidiaries. The Company is also engaged in the operation of Ibaraki Country Club Cafeteria, Sumitomo Club Cafeteria, Sumitomo Building Cafeteria and others.
The Royal Hotel, Limited. cancelled the acquisition of 90% stake in real estate trust beneficiary right of land at 5-1-1 Nakanoshima, Kita-Ku, Osaka-Shi from Mori Trust Co., Ltd.