Jones Lang LaSalle Hotels and the S&E Institute of Mitsui Fudosan Co. Ltd. acted as advisers to the owners in the process of operator selection and negotiated the deal.
The 166-key property, located in front of the renowned Yamashita Park, opened in 1979. A planned capital improvement program prompted the ownership to conduct a search for an international firm to manage the hotel.
The Yokohama contract comes hot on the heels of another Novotel branding in Japan. The Novotel Koshien, Osaka West opened in September 2002. Jones Lang advised owner K.K. Koshien Real Estate on this franchise agreement.
"Given the outstanding success of the Novotel Koshien case, we are confident that properly arranged hotel rebranding can not only generate international demand growth, mainly from Asia and the Pacific in this instance, but also increase domestic demand," says Tom Sawayanagi, senior vice president of Jones Lang LaSalle Hotels, who worked on the deal. "In addition, the deal marks Accor's first management contract in Japan, therefore the operator is even more committed to making this partnership a success"
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