Tourism company enters race for IR license in Japan

A tourism company along with a developer announced plans to partner in order redevelop a property into an IR.

Kamori Kanko, Japanese tourism company, and developer Niseko Alpine Developments, announced a partnership to bid for an integrated resort (IR) license. The partnership would redevelop the existing property in Hokkaido into an IR.

The US$200 million first phase of the project is set to feature a luxury hotel The Vale Rusutsu and a spa facility. Other phases would include new entertainment and retail options, as well as other hotel facilities, estimated at US$500 million.

Kimihito Kamori, president of Kamori Kanko, said that the Rusutsu Resort is in need of a long-term plan for redevelopment. “Unlike the structure of other Hokkaido resorts, we own Rusutsu in its entirety, including the resort, ski lifts, golf courses and theme park. Subsequently, Rusutsu’s redevelopment requires a highly strategic approach and we found the perfect partner in NISADE, who have been instrumental in identifying the path to executing Rusutsu’s long-term growth plan,” he added.

Niseko Alpine Developments Chairman Jonathan Martin commented that the plans for the Rusutsu Resort will allow them to develop a casino: “The plan includes a strong bid platform for one of the upcoming Integrated Resort Licenses for Japan – possibly one of the first casinos in the country. We’re also excited to offer private ownership within Rusutsu Resort; a new way for property owners to partner directly with the resort operator.”