Hony Capital To Invest In Hotel Chain Operator In Japan

Tokai Kanko Co., a listed medium-sized hotel chain operator, announced that Tokai Kanko will allocate new shares to Hony Capital, a China-based private equity firm, for about 1.4 billion yen and set up a SPC with Hony to invest in hotels. Hony will pay 2.7 billion yen for a 40% stake of the SPC. It plans to acquire a hotel located in Osaka from Aetos Japan., a Japan-focused US property fund.