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Travel & Leisure

Rihga Royal Hotel Osaka to be sold to Canadian investment firm

New owners plan renovations with expected rebound in visitors to city

The Rihga Royal Hotel Osaka is being sold to a Canadian investment firm. (Photo by Hiromasa Matsuura)

OSAKA -- Japanese hospitality company Royal Hotel will sell the land and buildings of its flagship Rihga Royal Hotel Osaka to a Canadian real estate investment firm under plans announced Friday, aiming to lure affluent international travelers by undergoing renovations.

Royal Hotel will continue to operate the property under a contract after the sale to Toronto-based BentallGreenOak for an undisclosed sum believed to run to mid-50 billion yen ($385 million) range.

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