Miyazaki, May 10 (News On Japan) –
Sega Sammy Holdings has introduced the sale of its shares within the firm that operates the Seagaia resort in Miyazaki City to an American funding firm.
During Friday’s board assembly, Sega Sammy determined to promote all shares of Phoenix Resort, the operator of Seagaia, to the American funding agency Fortress Investment Group.
Sega Sammy acknowledged, “It was determined that Fortress, with its extensive experience and knowledge in the hotel and resort business, would best lead the operations of Seagaia.”
Since 2011, Fortress has been concerned in managing lodge operations inside Japan and at the moment owns 176 accommodations.
After the sale of all shares, Sega Sammy will retain a 20% voting curiosity by a special class of shares that supply distinct rights, aiming to enhance occupancy charges and increase the goal demographic.
Source: TBS