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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.