French hospitality group Accor has entered a management agreement with Kokyo Asset Management Group, in collaboration with PGIM Real Estate, to open a new Novotel in Nara, Japan.

Novotel Nara is expected to open in the third quarter of 2024 and, according to the company, will cater to both business and leisure travellers.

The hotel will boast 264 guestrooms and suites, an all-day dining restaurant, four function spaces, a wellness centre and a top-floor lounge with an outdoor terrace and bar with views of Nara.

The wellness centre will comprise a wellness lounge, fitness centre and communal indoor baths.

Accor Asia premium, midscale and economy division CEO Garth Simmons said: “We are delighted to sign our second Novotel property in Japan and the first in the beautiful city of Nara.

“The partnership with Kokyo Asset Management and PGIM Real Estate is an important step for Accor and we are confident Novotel Nara will become a gathering place, attracting visitors as well as the local community.”

Accor presently operates 20 properties in Japan under multiple brands such as Pullman, Novotel, Mercure, Swissôtel, ibis, ibis Styles and ibis Budget, with an additional six hotels in development.