Hyatt is ramping up on its rapid expansion designs, specifically in the rising ski resort town of Niseko. Starting in 2019, the global hotel chain will commence its operations in this bustling part of Hokkaido, Japan with two new mega branches to accommodate the expected influx of domestic and international visitors.
Tipped to open sometime next year is the luxurious Park Hyatt Niseko in Hanazono that currently is under construction. In a report, C9 Hotelworks said the new hotel is part of Hyatt’s plan to further drive up the popularity of its established brand name.
The plan it seems is to open up new chains where tourism activities are projected to explode, indicating too the company views Niseko as among the most promising spots for tourism and property growths, the report added.
Hyatt Premium Brand Comes To Niseko
Also in the pipeline is the Hyatt House Niseko that C9 said will be unveiled this coming December. The property was previously a local operation that the global hotel company deemed suited for its premium operations in Japan.
The existing hotel structure, formerly named 91-Key Shiki, that Hyatt will rebrand next month can be found on the fashionable area of Hirafu.
And it all looks now that it will be the same site where the famed Hyatt House label, which C9 said was first introduced in 1957, will begin its expansion in Japan. It is understood that the specific brand, which represents Hyatt’s extended stay treat, will be seen in select premium locations around the world.
Niseko as the next boom town to watch was recently afforded a boost on June 2018 market review issued by C9 Hotelworks. Now regarded as a year-round holiday destination, the Hokkaido ski resort is forecasted by the same report to reach property market transactions amounting to $1 billion.
The skyrocketing figures have been fuelled by the rise in international visitors that Niseko has been attracting in recent years. At the close of 2017, foreign nationals that made their way to the town, covered by powdery snow by up to six months every year, soared by 17 percent, capping an incredible CAGR gain of 16 percent in the last five years.
As a result, Niseko’s property market is picking up high premiums at an astonishing rate. In the condominium segment, for instance, the selling price saw a surge of 12.5 percent in the same period while the built-up price jumped by 25 percent.