Hotel Princess Kyoto Re-Joins Nikko

5th Oct 2004

JAL Hotels Company, Ltd. has announced that
it signed an agreement that brings the Hotel Princess Kyoto back into the
Nikko Hotels International chain after a two-year absence. Hotel Princess
Kyoto was renamed and opened as Hotel Nikko Princess Kyoto on October 1 as
a result of the agreement, which calls for JAL Hotels to provide
assistance to Kyocera Realty Development Co., Ltd., the company that
recently acquired the property.
The hotel, which is celebrating its tenth anniversary this year, has been
undergoing a large-scale renovation that includes the lobby, restaurants
and all of the 216-guest rooms. In addition, new facilities have been
added, including a chapel facing a garden in one of the banquet rooms, a
new French restaurant, a spa and new shops. The hotel also features
Japanese and Chinese restaurants and a cafe, and has meeting and banquet
facilities for groups that range from about 800 square feet up to about
3,850 square feet.

The JAL Hotels agreement with Kyocera Realty Development provides Kyocera
with the services of the Nikko Hotels chain, including full hotel support
operations and a manager for the hotel.

Said JAL Hotels Company President Shosuke Machida, “We operate 55 hotels
worldwide, including Hotel Nikko Princess Kyoto, and offer the strong
Nikko Hotels International brand name through this agreement. Kyocera
Realty Development manages its hotels with a warm and friendly hospitality
philosophy that it terms, ‘hearts and smiles,’ a philosophy that fits very
well with our own. By leveraging both companies’ know-how and assets to
the maximum, we will build an international reputation for the hotel.”

For eight years since its opening in April 1994 until August 2002, the
hotel was operated by JAL Hotels under a management contract with the
hotel’s former owner. Ownership and management rights were acquired by
Kyocera Realty Development Co., Ltd. in February 2004. The hotel started
operations as Hotel Nikko Princess Kyoto on October 1st and was reinstated
as a member of the Nikko Hotels International group. Since Kyocera Realty
Development acquired the hotel in February 2004, its occupancy rate has
grown almost by 10 percent.


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