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NEWS 6 December 2019

Melco Resorts unveils Nagano ski resort hotel plans

By Owain Flanders

Melco Resorts has announced plans to develop a 280-room hotel at a ski resort in Nagano, Japan.

The project will see Melco invest in Okushiga Kogen ski resort through its hospitality investment fund.

The JPY27bn (US$250m) fund was announced in October, with the aim of supporting the revitalisation of the local Japanese economy through the development and operation of hospitality, leisure and entertainment facilities.

Melco previously confirmed plans to develop a five-star ski resort in Japan but had not announced the exact location. An official opening date is yet to be confirmed.

Speaking at the Nikkei Global Management Forum in Tokyo last month, Lawrence Ho, CEO of Melco, announced the fund’s investments would also include an Onsen hot spring resort in Hakone, near Tokyo.

He said the objective of the new projects were "to bring visitors to cities where international visitors don’t go," concluding that "regional cities have the space and ability to create a better integrated resort (IR)."

In September, Melco ended its bid for an IR license in Osaka to concentrate on large cities in Yokohama.

The operator generated revenue of $1.4bn for Q3 2019, an increase of 16% year-on-year.

RELATED TAGS: Land-Based | Financial | Industry
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