Nippon Accommodations Fund Inc. (TSE:3226) agreed to acquire Smile Hotel Nishi-Akashi and Smile Hotel Okinawa Naha and Smile Hotel Matsuyama from Hirakawamon Kanri GK for ¥3.1 billion on September 1, 2023. The acquisition will be funded from the own funds of Nippon Accommodations Fund. The hotels have a combined net operating income of ¥174.55 million and net income of ¥161.529 million. Hotels & Hospitality Group advised Hirakawamon Kanri GK in the sale.

Nippon Accommodations Fund Inc. (TSE:3226) completed the acquisition of Smile Hotel Nishi-Akashi and Smile Hotel Okinawa Naha and Smile Hotel Matsuyama from Hirakawamon Kanri GK on September 1, 2023.