REAL ESTATE NEWS
Global hotel group Banyan Tree has announced plans to build a 50-key resort and 113-key residential accommodation property in Hirafu.
Scheduled to open in 2025, Banyan Tree says the resort will be developed under its Cassia brand, with one-bedroom to villa properties for sale.
Banyan Tree is believed to have been looking at a Niseko property since at least 2008, with news resurfacing again around 2019.
Along with news of Niseko’s Cassia development, the group announced its expansion plans in Japan with two Banyan Tree hotels (Kyoto and Hakone), to join its recently completed Dhawa-brand hotel in Kyoto, and a Garrya-brand hotel also in Kyoto.
Eddy See, Banyan Tree Group President and Chief Executive Officer, said: “Our four new upcoming locations and beyond will provide signature standards of service and diversified programming that will serve as a benchmark for all future Banyan Tree Group locations in Japan.”
About the Cassia Brand
The Cassia Residences website says the brand is “a unique and appealing proposition that brings together world-class hospitality and attractive investment opportunity.
“The new brand… targets savvy investors and informed travellers with cleverly designed spaces and a choice menu of personalised services.”
This is believed to be the the company’s fourth Cassia-brand property along with others in Bintan Indonesia, Phuket in Thailand, and Lijang in China’s Yunnan province.
Banyan Tree says Cassia Niseko will be developed in partnership with asset management company Terraform Capital.
Environmental and Cultural Responsibility
Banyan Tree says sustainability and social responsibility are core tenets of their brand, and Cassia’s website promises its developments are environmentally and culturally sensitive, which will be welcomed in Niseko.
“By certifying to leading global sustainable design standards, Cassia ensures energy and water efficiency as well as an overall low footprint of operations.
“The built-in environmental management plans… of Cassia developments help to ensure a healthy and sustainable home which also safeguards the cultural and ecological beauty of each destination.”
Read press release here.
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