Polaris Holdings (TYO:3010) has executed a hotel management agreement for a new property in Kyoto, Japan, scheduled to open on Dec. 19, according to a Friday filing on the Tokyo Stock Exchange.
The hotel, "KOKO HOTEL Residence Kyoto Nijo Castle," will feature 36 rooms.
The company's subsidiary, Fino Hotels, will operate the property under a fee-based management model. Polaris has partnered with Star Asia Group to secure a revenue guarantee agreement, receiving 35 million yen in preparation funds.
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