The Niseko area appears set to welcome another global brand resort following the acquisition of Kiroro Ski Resort by Chinese company Fosun Group.
Fosun Group is the major shareholder in Club Med, and 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.
Sources close to the resort believe one of Kiroro’s hotels will be rebranded Club Med soon, possibly early next year.
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.
Sale price and details
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, Ai Kiroro.
Property Perfect will reportedly retain ownership of the condominium hotels and land, while Fosun Group will take 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.
View properties for sale at Kiroro here.
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