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Press Release
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Contact: Nick Derasmo (212.841.7505) |
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SONNENBLICK-GOLDMAN ADVISES ON TOKYO’S NEW LUXURY FOUR SEASONS HOTEL |
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Monday, January 07, 2002
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New York, NY
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Sonnenblick-Goldman Company exclusively advised Pacific Century Group Japan Co., Ltd., the developers of Tokyo's newest luxury hotel, concerning long-term agreements concluded with Four Seasons Hotels and Resorts. The 57-room, ultra-luxury boutique hotel in central Tokyo is due to open in the fall of this year as part of Pacific Century Place, Marunouchi, Tokyo on Sotobori Avenue.
The Four Seasons Hotel Tokyo at Marunouchi is part of a mixed-use development adjacent to Tokyo Station in the center of the city's financial district.
“The office tower is expected to be the highest quality commercial building in Japan when it opens later this year,” says Robert Stiles, managing director of Sonnenblick-Goldman Company. “Given the location, branding and management of the boutique hotel, it likely will garner the highest room rates in Japan as it reaches stabilization,” he adds.
After decades of a relatively closed market for international hotel management companies and investors, 2001 was marked by a number of announcements of both management contracts and investment by international players in Tokyo's hotel sector. Sonnenblick-Goldman advised on the sale of the Rihga Royal Hotel Narita earlier this year, while Mandarin Oriental Hotel Group and Hong Kong Shanghai Hotels (Peninsula Group) have both announced new hotel and investment plans for the city.
Mr. Stiles comments, “While there are a number of new luxury hotels planned in Tokyo, the Four Seasons Hotel Tokyo at Marunouchi will hit the market well in advance of competitive product still on the drawing boards.” |
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Sonnenblick-Goldman, LLC is the industry’s leading independent real estate investment banking firm. Founded in 1893 to serve the financing needs of the real estate industry, Sonnenblick-Goldman, LLC provides a full range of financial services, including debt and equity placements, joint ventures, investment sales and advisory services. Headquartered in New York, Sonnenblick-Goldman maintains offices in San Francisco, Boston, Hong Kong, Shanghai, Sydney and Tokyo. Further information can be found at Sonnenblick-Goldman, LLC’s website at www.cushwake.com/sonngold.
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