Super Hotel has announced that the Super Hotel Osaka Tennoji will cease operations on February 13, 2024.
Located within walking distance from Tennoji Station, the hotel features a total of 124 guest rooms. Amenities include a large communal bath and coin-operated laundry, and a complimentary breakfast is served from 6:30 AM to 8:30 AM.
Constructed in January 2004, the hotel underwent a renewal reopening in September 2013. The land and building were sold by Heiwa Real Estate Asset Management to a domestic company in October 2015. In December 2016, the property was acquired by the investment trust Mirai for 1.26 billion yen. As of the end of April 2023, the book value is 1.59 billion yen, the appraised net operating income (NOI) yield is 5.3%, and the post-depreciation NOI yield is 4.8%. The conclusion of operations is believed to be due to the expiration of a fixed-term building lease contract in February 2024.
Additionally, the Super Hotel Kyoto Karasuma Gojo, also owned by the investment trust Mirai, will end its operations on February 19, 2024.
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