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KKR nears deal to buy Hyatt Regency Tokyo

Railway operator Odakyu to offload assets totaling $1bn

COVID-19 has squeezed occupancy rates at Odakyu Electric's Hyatt Regency Tokyo hotel.   © Reuters

TOKYO -- Odakyu Electric Railway is in talks to sell its Hyatt Regency Tokyo hotel to U.S. private equity firm KKR, Nikkei has learned, as the Japanese railway operator reevaluates its asset holdings amid the protracted coronavirus pandemic.

Odakyu is also offloading its stake in a neighboring office building, which co-owner Dai-ichi Life Insurance is considering buying. The transactions are expected to total around 140 billion yen ($1.08 billion).

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