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Travel & Leisure

Hoshino Resorts to launch $185m Japan hotel rescue fund

Turnaround effort to help keep industry ready for post-coronavirus rebound, CEO says

Hoshino Resorts led the turnaround of this hot-spring getaway in northern Japan's Aomori Prefecture. (Photo courtesy of Hoshino Resorts)

TOKYO -- Japanese hospitality group Hoshino Resorts will establish a fund of up to 20 billion yen ($185 million) to bail out domestic hotels that are struggling to fill rooms amid the coronavirus pandemic.

The fund, launching as early as summer, will acquire and operate around a dozen properties.

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