Imperial Hotel has announced that it will open a new luxury hotel in Gion, Higashiyama Ward, Kyoto's high-end entertainment and tourism district, in the spring of 2026. This will be Imperial's first new hotel built in 30 years since the Imperial Hotel Osaka in Osaka Prefecture.
The hotel will be a renovation of Yasaka Hall, a nationally registered tangible cultural property, and will have about 60 rooms with seven floors above ground and two floors below. It will also have restaurants, bars and fitness facilities. The total project cost is expected to be about 11 billion yen.
Yasaka Hall was built in 1936, characterized by a design that combines Western-style architecture with a Japanese-style tiled roof. It was registered as a tangible cultural property in 2001.
The new hotel is planned to be earthquake-resistant while retaining part of the original building.
The company's consolidated financial results for the fiscal year that ended in March 2021 show that its final profit fell to a loss of 14.3 billion yen, compared with a profit of 2.4 billion yen in the previous fiscal year, the largest loss since it went public in 1961.
The spread of the novel coronavirus caused a sharp drop in demand.
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