Star Asia Group has recently finalized a share transfer agreement with Minacia Co., Ltd. (“Minacia”) on April 26, 2024, marking the acquisition of 100% of Minacia’s shares.
Reasons Behind the Acquisition
Star Asia Group recognizes the substantial growth potential within Japan’s hospitality sector. This strategic move aligns with the group’s ongoing investments in the industry, a strategy that predates the challenges posed by the COVID-19 pandemic.
In 2018, Star Asia Group acquired a controlling interest in Polaris Holdings (“Polaris”), a prominent hotel operator listed on the Tokyo Stock Exchange Standard Market (TSE: 3010). Amidst the pandemic-induced downturn affecting hotel assets, Star Asia Group capitalized on opportunities, investing proactively in strategically located assets valued at over JPY 100 billion.
The decision to acquire Minacia, a company managing 39 limited-service hotels with a total of 5,180 rooms across major Japanese cities, underscores Star Asia Group’s commitment to leveraging growth opportunities in the hospitality sector.
Over its three-decade history, Minacia has established itself as a key player in hotel and restaurant management, operating under well-known brands such as Wing International and Tenza Hotel. The company boasts a robust loyalty program and is actively developing innovative restaurant concepts, leveraging regional specialties.
The synergy between Polaris, which manages 50 hotels with 8,958 rooms globally, and Minacia’s operations presents significant opportunities. Star Asia Group plans to enhance Minacia’s growth trajectory through strategic investments, additional capital infusion, and leveraging shared resources, ultimately aiming for market expansion and enhanced brand recognition.
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By Proptechbuzz
By Ravi Kumar
