Hotel Asset Securitization and Management Contracts Through a Long-Term Partnership with GIC
First written in FY2022-Q3. 3 of 4 entries say "Advanced", first in FY2022. Latest entry: FY2023-Q3.
1 other company's latest entry also says "Advanced".
- FY2023-Q3AdvancedAnnual report
「Under the basic agreement, on 30 June 2022 our consolidated subsidiary 株式会社西武リアルティソリューションズ entered into an agreement to transfer certain hotel and leisure business assets, including The Prince Park Tower Tokyo, to several affiliates directly or indirectly funded by Reco Sky Private Limited, an affiliate of GIC Private Limited. On 30 September 2022, 4 properties including The Prince Park Tower Tokyo were transferred, followed by 15 properties including Naeba Prince Hotel on 1 December 2022 and 6 properties including Manza Prince Hotel on 1 February 2023. Our consolidated subsidiary 株式会社西武・プリンスホテルズワールドワイド provides operating services for these 25 properties in total.」
Asset transfers under the partnership with GIC progressed to a total of 25 properties, and the provision of hotel operating services following the transfers was also completed. - FY2023-Q2AdvancedAnnual report
「On 30 September 2022, we transferred 4 properties, including The Prince Park Tower Tokyo. Our consolidated subsidiary 株式会社西武・プリンスホテルズワールドワイド provides operating services for these 4 properties and is scheduled to provide operating services for the other hotel and leisure assets as well. Our consolidated subsidiary 株式会社西武SCCAT provides building management services for these 4 properties.」
Under the long-term partnership with GIC for hotel asset securitisation, the transfer of 4 properties and the outsourcing of hotel operations and building management services were completed. - FY2022AdvancedAnnual report
「On 10 February 2022, we entered into a legally binding basic agreement with Reco Pine Private Limited, an affiliate of GIC Private Limited (hereinafter, GIC), covering 31 properties comprising part of the hotel and leisure business assets held by 株式会社プリンスホテル. The agreement is intended to maximise earnings, promote the Group's asset-light strategy, further develop the hotel and leisure business, maximise the value of the Group as a whole, and establish a long-term partnership between the Group and GIC.」
The basic agreement with an affiliate of GIC was completed, and the transaction, including the transfer of 31 properties and the provision of operating services following the securitisation, was scheduled to be executed in September 2022. - FY2022-Q3First statedAnnual report
「On 10 February 2022, we entered into a legally binding basic agreement with Reco Pine Private Limited, an affiliate of GIC Private Limited (hereinafter, GIC), covering 31 properties comprising part of the hotel and leisure business assets held by 株式会社プリンスホテル. The agreement is intended to maximise earnings, promote the Group's asset-light strategy, further develop the hotel and leisure business, maximise the value of the Group as a whole, and establish a long-term partnership between the Group and GIC. Following the securitisation, scheduled for fiscal 2022, 株式会社西武・プリンスホテルズワールドワイド is to provide operating services for the properties concerned.」
A basic agreement was signed with an affiliate of GIC covering the securitisation of 31 properties comprising part of the hotel and leisure business assets, together with the provision of operating services following the securitisation.