Japan Airlines Corp (JAL) sells hotels in Tokyo and Okinawa to US-based private equity funds
Japan Airlines Corp (JAL) has sold hotels in Tokyo and Okinawa to the US-based private equity funds Aetos Capital and Lone Star Funds. The Dallas-based Lone Star Funds bought three hotels in Okinawa - Hotel Nikko Naha Grandcastle, Hotel Nikko Yaeyama and JAL Private Resort Okuma - for at least ¥15 billion. This is Lone Star Fund's seventh hotel buyout in Okinawa. In the deal with Aetos Capital, JAL sold its 48% holding in Tokyo Humania Enterprise, which owns the building of Hotel Nikko Tokyo.