GIC acquires 16 Marriott-run hotels in Japan amid tourism boom

Singapore's sovereign wealth fund GIC has acquired 16 Japanese hotels operated by Marriott International, valued at approximately 125 billion yen (S$1 billion), according to informed sources. The acquisition includes the mid-price-range Four Points Flex by Sheraton hotel chain, reported sources. Marriott International sold the Four Points Flex by Sheraton, with no further details divulged by the company.

GIC and KKR have not commented on the matter. The yen's depreciation has made Japan a more budget-friendly travel destination, boosting the foreign visitor count to over 42.7 million people in 2025, as per land ministry data. Hotels are less susceptible to inflation than other real estate assets as they can raise room rates to counter rising expenses and strong demand, ensuring profitability amid inflationary pressures.

GIC's latest acquisition follows other significant Japanese real estate deals, such as a $900 million (S$1.15 billion) purchase of 27 resort hotels by a foreign investor group in 2023. Japan Hotel REIT Investment Corporation also acquired Hyatt Regency Tokyo for 126 billion yen in March 2026. KKR also bought 14 hotels from Unizo Holdings in 2024, which was restructured due to bond repayment difficulties.