{"id":1004143845,"date":"2016-05-13T04:35:01","date_gmt":"2016-05-13T12:35:01","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004143845"},"modified":"2022-12-06T16:21:49","modified_gmt":"2022-12-07T00:21:49","slug":"office-building-in-tokyos-busiest-commercial-area-becomes-internationally-branded-hotel","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/office-building-in-tokyos-busiest-commercial-area-becomes-internationally-branded-hotel\/","title":{"rendered":"Office Building in Tokyo\u2019s Busiest Commercial Area Becomes Internationally-Branded Hotel"},"content":{"rendered":"<p><em>By Alexandra Pacurar, Associate Editor<\/em><\/p>\n<div id=\"attachment_1004143847\" style=\"width: 260px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/05\/Kinshicho-Mark-Building-Tokyo.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004143847\" data-attachment-id=\"1004143847\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/office-building-in-tokyos-busiest-commercial-area-becomes-internationally-branded-hotel\/kinshicho-mark-building-tokyo\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/05\/Kinshicho-Mark-Building-Tokyo.jpg\" data-orig-size=\"500,600\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Kinshicho-Mark-Building-Tokyo\" data-image-description=\"&lt;p&gt;Kinshischo Mark Building&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Kinshischo Mark Building &lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/05\/Kinshicho-Mark-Building-Tokyo.jpg?w=500\" class=\"wp-image-1004143847 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/05\/Kinshicho-Mark-Building-Tokyo.jpg\" alt=\"Kinshischo Mark Building\" width=\"250\" height=\"300\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/05\/Kinshicho-Mark-Building-Tokyo.jpg 500w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/05\/Kinshicho-Mark-Building-Tokyo.jpg?resize=250,300 250w\" sizes=\"auto, (max-width: 250px) 100vw, 250px\" \/><\/a><p id=\"caption-attachment-1004143847\" class=\"wp-caption-text\">Kinshischo Mark Building<\/p><\/div>\n<p><strong>Tokyo<\/strong>\u2014<a href=\"https:\/\/pacifica-cap.com\/\" target=\"_blank\" rel=\"nofollow noopener\">Pacifica Capital K.K.<\/a>, a Tokyo-based commercial real estate developer, announced it will serve as asset manager for the conversion of Kinshicho Mark, an <a href=\"https:\/\/www.commercialsearch.com\/news\/office\/\" target=\"_blank\" rel=\"noopener\">office building<\/a>\u00a0situated\u00a0in a central area of Japan\u2019s capital city, into an internationally-branded three-star <a href=\"https:\/\/www.commercialsearch.com\/news\/hotel\/\" target=\"_blank\" rel=\"noopener\">hotel<\/a>. The 10-story facility will have more than 200 guest rooms, with sizes ranging from 194 to over 300 square feet, and it will also offer food, beverage and fitness amenities.<\/p>\n<p>\u201cThe market for internationally-branded limited service hotels is virtually untapped in Japan, so we have high expectations for this project. With a huge shortage of land ready for development, we believe conversion of existing buildings such as offices is an attractive way to open more hotels faster to serve the needs of this growing market\u201d, said President &amp; CEO of Pacifica Capital K.K. Seth Sulkin.<\/p>\n<p>The new hotel is located\u00a0at 3-5-2 Kotobashi, Sumida-ku, a busy commercial area in central Tokyo, within walking distance from major train stations and close to well-known sights such as Asakusa and Tokyo Sky Tree. The location also offers convenient access to Haneda and Narita airports as well as Tokyo Disneyland. The facility is slated to welcome its first guest in the summer of 2017.<\/p>\n<p>The new three-star hotel will address Japan\u2019s growing number of inbound tourists. Last year, the country registered a record-breaking 20 million international visitors, most of them coming from Asia. The Tokyo Olympics, set for 2020, have determined the government to double its inbound visitor target to 40 million, while hotel occupancy in the city is approaching 90 percent. All things considered, Pacifica expects high demand for this property soon after opening.<\/p>\n<p>So far, Pacifica, one of Japan\u2019s leading foreign-capital real estate developers, mainly focused on the development of shopping centers, <a href=\"https:\/\/www.commercialsearch.com\/news\/mixed-use\/\" target=\"_blank\" rel=\"noopener\">mixed-use<\/a> properties and <a href=\"https:\/\/www.commercialsearch.com\/news\/sustainability\/\" target=\"_blank\" rel=\"noopener\">solar plants<\/a>.<\/p>\n<p><em>Image via\u00a0Wikimedia<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 200-key accommodation facility is scheduled to open in the summer of 2017 and it will be a viable option for tourists in the Japanese capital.<\/p>\n","protected":false},"author":236,"featured_media":1004143847,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21751,16,21783,21742,21747,21785],"tags":[],"class_list":["post-1004143845","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hotel","category-international","category-investment","category-latest","category-office","category-property-management"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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