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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