I'm LongbridgeAI, I can summarize articles.By Megan Cheah
KKR-managed funds have completed the sale of 16 hotels in Japan, seeking to reposition the portfolio amid growing demand for accessible accommodation in the Asian country.
The portfolio of hotels under the Four Points Flex by Sheraton brand, was sold to a global institutional investor, the New York-based private equity company said Friday. Financial terms of the deal weren't disclosed.
KJRM, an asset management company bought by KKR in 2022, will continue to serve as the asset manager of the portfolio after the sale, while KKR's Japanese hotel operating platform K+ Hospitality Management will still run the hotels' operations, it said.
KJRM will work with the new owner to add further Japanese hotel investments to the portfolio, KKR added.
The company continues to have "strong conviction in the long-term fundamentals of the country's hospitality and broader real estate sector," said David Cheong, head of acquisitions for KKR's Asia real-estate team.
KKR acquired the portfolio from Japanese real-estate operator Unizo Holdings in 2024 and launched the Four Points Flex by Sheraton brand in the Asia-Pacific region through its partnership with U.S. hotel operator Marriott International. The hotels are located in 11 cities, including Tokyo, Osaka and Kyoto.
Write to Megan Cheah at megan.cheah@wsj.com
(END) Dow Jones Newswires
September 24, 2026 23:41 ET (03:41 GMT)
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