Axe Management Partners has completed the acquisition of three hotels in Osaka.
The company plans to open these properties under the newly established mid-scale brand ‘Garner’ by IHG Hotels & Resorts, which made its debut in August 2023. A basic agreement has already been signed for this initiative. With this move, the brand will mark its first entry outside North America.
The properties, Hotel WBF Honmachi, Hotel WBF Kitahama East, and Hotel WBF Kitahama West, were acquired from CapitaLand Ascott Trust for 10.7 billion yen.
The refurbishment plans include enhancing the guest arrival experience, shared spaces, the lounge and cafe areas, as well as renovating the guest room designs, lighting, bedding, and bathroom amenities for a rebranding and reopening within the year. As a result, IHG Hotels & Resorts will operate a total of 10 hotels in Osaka.
Axe Management Partners is a multi-asset class real estate investment company based in Tokyo and Hong Kong, targeting the entire Asia region. The company handles regional cross-border projects and investment opportunities worth billions of dollars.
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