Polaris Holdings (TYO:3010) has signed management agreements for two new hotels in Numazu City, Shizuoka Prefecture in Japan with Aqua Resort, according to a Monday filing on the Tokyo Stock Exchange.
The properties, to be operated under Polaris' Koko Hotel brand, comprise Koko Hotel Numazu Inter and Koko Hotel Numazu Ekimae, both set to open in April 2025.
The hotels will add 243 rooms to Polaris's portfolio, increasing its total room count to 9,514. Polaris aims to enhance profitability through a fee-based management model, continuing its expansion in the Japanese hospitality market.
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