Osaka Prefecture has decided to appoint Abest Corporation as the tenant operator for the former Sakishima Cosmo Tower Hotel site.
The lease period is set for 15 years with a monthly rent of 60,010,400 yen. A fixed-term building lease contract will be concluded within three months.
It is located on the 7th to 17th floors of the Osaka Prefecture Sakishima Government Building. The 7th to 9th floors are in a state where renovation work for hotel specifications by the previous tenant operator was halted, while the 10th to 17th floors maintain hotel specifications.
The former Sakishima Cosmo Tower Hotel was operated by Sakishima Cosmo Tower Hotel Development, jointly funded by Rikojapan and Nishitsuji Construction, which applied during the 2017 operator recruitment. Although it opened in phases from January 2019, Osaka Prefecture sued the company for unpaid rent and won the case. The company’s president and others have been arrested on charges of asset concealment.
Abest Corporation was established in 2003. It operates Hotel Abest, Hotel SUI, and Kobe Port Tower Hotel nationwide, and is also involved in real estate and restaurant businesses.
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