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PAN PACIFIC INTERNATIONAL HOLDINGS CORPORATION

(7532)
  Report
Delayed Japan Exchange  -  01:00 2022-12-05 am EST
2321.00 JPY   +1.18%
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IHG Hotels & Resorts to open Hotel Indigo in Tokyo's world-famous Shibuya district in late 2023

09/01/2022 | 04:30am EST

­IHG Hotels & Resorts (HQ: UK; Japan: Minato-ku, Tokyo; operating company: IHG Hotels & Resorts, Managing Director: Abhijay Sandilya; hereafter IHG) has signed a management agreement with Pan Pacific International Holdings Corporation to open Hotel Indigo Tokyo Shibuya in late 2023.

Hotel Indigo Tokyo Shibuya will be the fourth Hotel Indigo-branded hotel in Japan, following Hotel Indigo Hakone Gora which opened in 2020, and Hotel Indigo Karuizawa and Hotel Indigo Inuyama Urakuen Garden, both of which opened earlier this year.

With 254 open or pipeline hotels worldwide, Hotel Indigo is IHG's lifestyle boutique hotel brand that is built around 'neighbourhood stories', tickling guests' curiosity by incorporating the city's character, unique history and culture into every detail of the hotel design, artwork, service and experience.

Hotel Indigo Tokyo Shibuya will be located at the top of the 'Dogenzaka Dori', a large, mixed-use complex that's being developed as part of the Shibuya Ward Dogenzaka 2-chome Development Plan.

A five-minute walk will take guests to the Shibuya Scramble Crossing, a quintessential symbol of Tokyo's cultural centre that attracts the world's attention. In the other direction is the calm, residential Shoto area, putting the hotel in an ideal location to enjoy every aspect of Shibuya's unique neighbourhood story.

That story is based on the theme of a 'jungle city where individuality and colours mix and change', expressing a Shibuya that continues to evolve with the flow of the times, just like a jungle where diverse and colourful lives are born. This will be reflected in the local experience and the hotel's interior design and services.

In addition to the 272 guest rooms, the hotel will have facilities such as a neighbourhood cafe & bar with an outdoor terrace and a fitness gym. Rooms occupying the upper floors will offer panoramic views, which extend as far as Mount Fuji and Tokyo Sky Tree on a clear day. It will also feature a coffee shop for eat-in and take-out near the entrance on the third floor.

Abhijay Sandilya, Managing Director - Japan, IHG Hotels & Resorts, said, "We are so proud to announce the signing of Japan's fourth Hotel Indigo hotel, demonstrating the incredible growth the brand has seen since we debuted it here just two and a half years ago. Shibuya is one of Japan's world-class culture hubs that is perfectly suited to the neighbourhood stories embodied by Hotel Indigo, so we could not wish for a better location for this great brand to make its Tokyo's debut. We are honoured to form this partnership with Pan Pacific International Holdings Corporation, and look forward to working hand-in-hand long into the future."

Pan Pacific International Holdings Corporation, President and CEO, Representative Director, Naoki Yoshida said, "PPIH is proud to develop this new urban development plan that takes advantage of the charms of Shibuya, with the goal of creating a lifestyle hub with a large-scale complex, comprising 'retail, offices and a hotel' and proposing a new circulation route around the Shibuya area. We would like to express our deepest gratitude to the many people involved in this project."Dogenzaka Dori" will create a new destination for people to come to the Shibuya area, a lifestyle hub that attracts a diverse range of people and revitalises the area as a new centre of culture.

We are honoured to be partnering with IHG Hotels & Resorts, a leader in connecting people with travel around the world. Together with Hotel Indigo Tokyo Shibuya, which reflects the evolving character and charm of the Shibuya area, we hope that Dogenzaka Dori will shine a light on the still undiscovered charms of Shibuya and provide a wonderful experience for many domestic and international guests."

IHG Hotels & Resorts has a total of 50 open or pipeline hotels in Japan under six brands - (ANA) InterContinental, Kimpton, ANA Crowne Plaza, (ANA) Holiday Inn, Holiday Inn Express and Hotel Indigo, and is preparing to Regent Hotels & Resorts, Six Senses Hotels Resorts Spa and voco in the coming years.

Since January 2020, IHG has opened 11 hotels, including three Hotel Indigo brands (Hotel Indigo Hakone Gora, Hotel Indigo Karuizawa and Hotel Indigo Inuyama Urakuen Garden), ANA Holiday Inn Resort Shinano-omachi Kuroyon, Kimpton Shinjuku Tokyo, Holiday Inn Express Osaka City Centre Midosuji, and the 1,000-room resort in Appi Kogen, which includes ANA InterContinental, ANA Crowne Plaza and ANA Holiday Inn.

With the opening of Hotel Indigo Tokyo Shibuya in 2023, IHG will have five hotels in Tokyo and eight in Greater Tokyo area. (ANA InterContinental Tokyo, The Strings by InterContinental Tokyo, InterContinental Tokyo Bay, Kimpton Shinjuku Tokyo, InterContinental Yokohama Grand, InterContinental Yokohama Pier 8 and ANA Crowne Plaza Narita)

IHG is committed to grow in Japan and will continue to focus on building relationships with property owners to further expand its portfolio.

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(C) 2022 M2 COMMUNICATIONS, source M2 PressWIRE

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Financials
Sales 2023 1 919 B 14 179 M 14 179 M
Net income 2023 63 602 M 470 M 470 M
Net Debt 2023 405 B 2 990 M 2 990 M
P/E ratio 2023 21,6x
Yield 2023 0,79%
Capitalization 1 384 B 10 228 M 10 228 M
EV / Sales 2023 0,93x
EV / Sales 2024 0,89x
Nbr of Employees 16 912
Free-Float 81,3%
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Number of Analysts 10
Last Close Price 2 294,00 JPY
Average target price 2 806,00 JPY
Spread / Average Target 22,3%
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Managers and Directors
Naoki Yoshida President, CEO & Representative Director
Keita Shimizu Director & Chief Financial Officer
Takayuki Hinata Executive Officer, Head-Legal Affairs & Compliance
Yukihiko Inoue Outside Auditor
Yasunori Yoshimura Independent Outside Director
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