REAL ESTATE NEWS
By Kristian Lund
Photo Kiroro Ski Resort
Club Med has joined the chorus of global brands announcing Niseko investment, less than a week after Banyan Tree announced a Niseko property.
Club Med Kiroro will open in December, offering “all-inclusive holidays”.
It will take over the two existing Marriot-brand hotels at the resort.
The Sheraton hotel at the base of the main runs, adjacent to the resort base Mountain Center, will become Club Med Kiroro Peak.
It will be designed for couples, families and teenagers, with a minimum guest age of 12 years.
The Tribute Portfolio hotel, a short ski / gondola / buggy ride past Kiroro Peak, will become Club Med Kiroro Grand and house “a wide host of family-oriented activities and facilities suitable for all ages”.
It is believed the recently developed Yu Kiroro condo hotel adjacent to Kiroro Grand will remain independently owned and operated by previous whole-resort owner Property Perfect (Thailand).
Background to Sale and Rebranding
In December last year Club Med majority shareholder Fosun Group (China) acquired Kiroro Ski Resort, pointing towards the likely rebranding.
Fosun Group also owns Tomamu Ski Resort in Central Hokkaido, which is also home to a Club Med resort.
There is another Club Med Resort at Sahoro Ski Resort nearby, and one in Okinawa.
A source close to Club Med said the brand had been looking to secure a site in Niseko for several years, however, they hadn’t been able to find a suitable ski-in/ski-out site in Niseko itself.
The resort was sold for ¥15 billion (USD132 million) by Thai company Property Perfect, which acquired it in 2012 for ¥1.9 billion (USD 24 million at the time).
Property perfect renovated and rebranded the resort’s two existing hotels as Marriot International’s Sheraton and A Tribute Portfolio brands.
It also developed two modern condominium hotels, Yu Kiroro, with plans for a third (yet to be announced).
Property Perfect has reportedly retained ownership of the condominium hotels and land, while Fosun Group has taken ownership of the hotels, lifts, and a large amount of land surrounding the resort.
Kiroro location and background
Kiroro is located 30km northwest and about an hour’s drive from Niseko.
It is regarded as one of the three headline ski resorts in the Niseko areas, and is regularly accessed for day ski trips by residents and visitors from Niseko.
Kiroro was developed by Yamaha in the 1980s, and following acquisition by Property Perfect, its original masterplan was revised by renowned resort planners Mountain Works, responsible for resort plans including Beaver Creek and Vail in Colorado, and Are in Sweden.
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