Prince Hotels to Develop Luxury Brand Abroad

Economy

Tokyo, Aug. 30 (Jiji Press)--Prince Hotels Inc. said Friday that it will develop a new luxury hotel brand abroad.

The Japanese company is considering opening hotels under the new brand, Prince Akatoki, in New York, Paris, Rome, Singapore, Bangkok and Sydney in the medium to long term, aiming to vie with U.S. and European luxury hotel chains in attracting rich customers.

It will open the first Prince Akatoki hotel in London in September by renovating a local hotel it purchased. This will be followed by the launch of an Akatoki hotel in Guangzhou, China, this winter or later.

Prince Hotels aims to boost its presence in the world by expanding its customer base, Masahiko Koyama, president of the company, told a news conference.

[Copyright The Jiji Press, Ltd.]

Jiji Press