Japanese luxury hotel brand to debut in Sydney and Melbourne
Luxury hotel brand Prince Akatoki will soon have a home in Sydney and Melbourne.
The brand is being brought downunder by hotel management company Staywell Hospitality, which is looking to ramp up its business in Australia.
Staywell was acquired by Seibu Holdings subsidiary Prince Hotels in 2017. It operates 10 hotels and 553 rooms in Australia, which includes the Park Regis and Leisure Inn brands.
Seibu Holdings is looking to expand its international portfolio from 84 locations to over 250 in the next 10 years.
The first Prince Akatoki hotel is slated to open in Sydney by 2025, with the follow up to open in Melbourne by 2026.
Two further brands are also marked for their Australian debut in the next few years: the neighbourhood-style Park Proxi hotels and the more corporate-focused Park Regis by Prince.
The company plans to have a local portfolio of 15 hotels within five years.
“Japan is one of the largest investors into Australia, but there are no Japanese-branded hotels in Australia. Zero,” Staywell president Simon Wan said.
“You have American hotels with Marriott, French with Accor and British with IHG, so we see a gap in the market for hotels promoting Japanese culture, service and food,” he told The Australian Financial Review.
The five-star Prince Akatoki brand showcases Japanese interior design, furnishings and cuisine.
Staywell is bringing the hotels to Australia as the market exceeds expectations in its recovery.
Wan said several of the company’s hotels are now more profitable than before the pandemic.
The more casual brand Park Proxi will likely be found in suburban areas such as Fitzroy and Richmond in Melbourne, or Newtown and Chatswood in Sydney.
The company will work with local pub owners with an accommodation option that has potential to expand.
“We’re talking to a number of pub owners and operators about converting their accommodation into a Park Proxi, making use of the existing F&B already there and maybe adding a couple of floors,” Wan said.
Irit Jackson - 4th October 2022
