Joint venture spends $909m on Sheraton Grande Tokyo
Joint venture spends $909m on Sheraton Grande Tokyo
22 SEPTEMBER 2017 9:05 AM

Singapore sovereign wealth fund GIC (51%) and Japanese real estate investment trust Invincible Investment Corporation spent 100 billion Japanese yen ($909.1 million) on the 1,016-room Sheraton Grande Tokyo Bay Hotel, which includes the 175-room Annex Tower that opened in December.

SINGAPORE, 21 September 2017 – GIC, Singapore’s sovereign wealth fund, will enter into a joint venture with Invincible Investment Corporation, a public hotel and residential J-REIT, to acquire Sheraton Grande Tokyo Bay Hotel for approximately JPY100bn (US$909.1m ), with GIC having the majority stake of 51%.

Built in 1988, Sheraton Grande Tokyo Bay Hotel is a 1,016-room hotel which includes a 175-room Annex Tower opened in December 2016, located adjacent to Tokyo Disney Resort (TDR) and its largest “Official Hotel”, out of six such hotels. Since its opening, the hotel has remained popular among its domestic and inbound customer base.

Since its establishment in 1984, TDR has had a proven track record of growth, attracting over 30 million Park visitors annually in recent years. Oriental Land Co., the operator of TDR, announced plans to add several new attractions at Tokyo Disneyland and Tokyo DisneySea, including a large-scale investment project of JPY 75.0 billion (US$682m) to open new attractions scheduled in the spring of 2020 in Tokyo Disneyland.

Mr Lee Kok Sun, Chief Investment Officer, GIC Real Estate, said, “Sheraton Grande Tokyo Bay Hotel, with its close proximity to Tokyo Disney Resort, has shown strong and resilient cash-flows. As a long-term value investor, we are confident in the continued growth and demand in Japan. In partnership with Invincible Investment Corporation, we will seek to enhance the Sheraton Grande Tokyo Bay Hotel and support it in its next phase of growth. We have been investing in Japan for more than 20 years and are continually on the lookout for quality assets with stable cash-flow potential.”

The above is a news release written by a third party. While HNN’s editorial mission is to produce unique content, it occasionally publishes timely, newsworthy news releases to complement in-house reporting efforts. All news releases are clearly marked as such. For questions and clarification, please contact Editor-in-Chief Stephanie Ricca at 

No Comments

Comments that include blatant advertisements or links to products or company websites will be removed to avoid instances of spam. Also, comments that include profanity, lewdness, personal attacks, solicitations or advertising, or other similarly inappropriate or offensive comments or material will be removed from the site. You are fully responsible for the content you post. The opinions expressed in comments do not necessarily reflect the opinions of Hotel News Now or its parent company, STR and its affiliated companies. Please report any violations to our editorial staff.