Seibu may sell unprofitable hotels by next year

9th Jun 2006

Seibu Holdings Inc is thinking to sell all of its unprofitable hotels and other resort facilities by next March, Seibu Holdings President Takashi Goto told Kyodo News wire on Thursday. ‘‘We want to complete the sales by next March,’’ Goto said. ‘‘We’ll start later this month briefing employees and local governments on the matter.’’

The facilities may continue operations under different owners and maintain their current employees, Goto said, suggesting the company will make every effort to minimize detrimental impacts on local economies.



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