Star Asia Group, an independent investment management company, has reached an agreement to acquire 100% of Japanese hotel operator Minacia.
Signed on 26 April 2024, the agreement aligns with Star Asia Group’s strategic initiative to invest in the growing hotel sector.
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Minacia operates 39 limited-service properties across major Japanese cities, totalling 5,180 rooms.
For more than three decades, the company has been operating hotels under the Wing International and Tenza Hotel brands, with the latter being introduced in 2020.
Minacia also has a proprietary loyalty programme with a significant repeat customer base.
In addition to its hotel operations, Minacia has also ventured into the restaurant business.
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By GlobalDataThe company develops dining concepts, leveraging the regional specialities of the areas where its hotels are located.
Star Asia Group’s decision to acquire Minacia stems from a belief in the growth potential within Japan’s hospitality sector.
The group has been strategically investing in this sector, even before the disruptions caused by the Covid-19 pandemic.
In 2018, Star Asia Group became the main sponsor of Polaris, a hotel operator listed on the Tokyo Stock Exchange, by purchasing a majority equity stake.
Under Star Asia Group’s sponsorship, Polaris currently operates 50 hotels with a total of 8,958 rooms both in Japan and internationally.
Star Asia will drive Minacia’s business growth in the limited-service hotel sector by providing sponsorship and management resources, including additional capital.
In a statement, the company said: “Star Asia Group will continue to pursue economies of scale (technology investment, sales and marketing, loyalty programmes, etc.) and further increase brand awareness in the market. Star Asia Group believes that valuable synergies can be expected from future collaboration between Minacia and Polaris.”
