Polaris (TYO:3010), a hospitality company, said its subsidiary, Fino Hotels, signed a memorandum of understanding with Star Asia Management to manage a new hotel in central Tokyo's Taito-ku district, according to a Wednesday filing on the Tokyo Stock Exchange.
The hotel, set to open in fall 2027, will operate under the KOKO HOTEL Residence brand.
The property, located five minutes from Shin-Okachimachi Station, will feature 52 apartment-style rooms. This move aligns with Polaris' strategy to expand its hotel management portfolio, which has grown to over 9,000 from 3,109 rooms in 2020.
The hotel will join Polaris' other properties in the area, including KOKO HOTEL Residence Asakusa Kappabashi and KOKO HOTEL Residence Asakusa Tawaramachi.
Price (JPY): $180.00, Change: $+2.0, Percent Change: +1.12%
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