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Business

Japan's Seibu to build membership resort hotels

Move targets growing ranks of wealthy Japanese

TOKYO -- Seibu Holdings is expanding into the membership resort-hotel business, expecting growing demand for exclusive accommodations in domestic holiday destinations.

The holding company for a range of concerns in railways, buses and hotels plans to start building membership hotels in fiscal 2019 at a pace of about one a year. By investing 100 billion yen to 200 billion yen  ($870 million to $1.74 billion) in total, it aims to set up 20 or so locations, using properties it already owns in resort destinations, such as Karuizawa and Hokkaido.

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