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Property

Japan's Seibu to sell hotels and leisure facilities for over $900m

COVID slump leads group to offload Prince hotels, golf clubs and ski resorts

The Prince Park Tower Tokyo is expected to be one of the hotels put up for sale by Seibu Holdings. (File photo by Jiji)

TOKYO -- Seibu Holdings is set to sell off some of its iconic hotel and leisure facilities for over 100 billion yen ($908 million), as the pandemic prompts the Japanese railway and hotel conglomerate to offload those assets to focus on their operation, multiple sources told Nikkei.

It is seeking proposals from investment funds and will begin negotiations for around 40 of its facilities in the country with the aim of completing sales by April 2022.

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