Thai Company Buy Kiroro Ski Resort

Date Added: 02/09/2012
Thai Company Buy Kiroro Ski Resort

It was recently reported in the Bangkok Post that Perfect Property International have acquired the Mitsui-owned Kiroro Ski Resort for 874m Baht (2.2 billion Yen, 27m USD). They plan to move quickly into the development phase where they plan to build 60 villas and 150 condominiums. The new owners will be able to tap into immediate sources of revenue through the 420 hotel rooms and the ski resort which is just an hour or so from Sapporo.

While the organic feel of a resort developed over time will be hard to achive in Kiroro, it does have the considerable advantage of being owned by a single entity which will make it possible for them to move much faster. In additon, there is a considerable amount of developable land which is not subject to any tricky regulatory issues.

It will be interesting to see how Kiroro fits in with the increasing regional offering which is being provided to domestic and international visitors.

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