Oedo Onsen Monogatari Hotels & Resorts has acquired the former Hoshino Resorts KAI Kawaji located in Tochigi’s Kawaji Onsen.
The building has seven floors and covers an area of 8,671.47 square meters. It was constructed in September 1994, originally opening as the old inn Den Shichi. After a series of acquisitions, it was renamed to its current identity in June 2014.
The property was owned by Hoshino Resorts REIT, Inc., which had announced the execution of a sales contract on May 24, and the transfer of the property on May 31. The transfer amount was revealed to be 1.26 billion yen. As one of the main hot spring brands under “KAI”, it was sold due to the anticipated increase in expenditure necessary to maintain competitiveness due to aging, while also expecting a gain from the sale. The operation ended on September 30.
Oedo Onsen Monogatari Hotels & Resorts plans to undergo renovations, aiming for a rebranded opening under the “TAOYA” brand in February 2025.
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