MiyazakiMay 10th (News about Japan) – Sega Sammy Holdings has announced the sale of its shares in the company that operates the Seagaia resort in Miyazaki City to a US investment company.
During Friday’s board meeting, Sega Sammy decided to sell all shares of Phoenix Resort, the operator of Seagaia, to the American investment company Fortress Investment Group.
Sega Sammy stated, “It was determined that Fortress, with its extensive experience and knowledge in the hotel and resort industry, would best lead Seagaia’s operations.”
Since 2011, Fortress has been involved in managing hotel operations in Japan and currently owns 176 hotels.
Following the sale of all shares, Sega Sammy will retain a 20% voting interest through another share class offering different rights, with the aim of improving occupancy and expanding the target group.
Source: TBS
