Seibu eyes selling hotels, other assets to Singapore's GIC

Economy

Seibu Holdings Inc. is considering selling about 30 properties in Japan, including Prince brand hotels, to Singaporean sovereign wealth fund GIC for about 150 billion yen ($1.3 billion), sources familiar with the plan said Saturday. Of the total, about 10 are believed to be hotels such as The Prince Park Tower Tokyo, Prince Hotel Sapporo and Grand Prince Hotel Hiroshima. A Seibu group company will operate the hotels and other facilities, such as a ski resort and a golf course, after the planned sale, according to the sources. Initially, Seibu Holdings had studied the sale of around 40 assets. ...

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