Kasumigaseki Capital, through its consolidated subsidiary, fav hospitality group, has acquired all shares in Wakayama Marina City, expanding its business from hotel development and operations into a wider leisure and tourism sector.
Wakayama Marina City sits on an artificial island in the waters off Wakaura, Wakayama Prefecture, Japan, with direct access to the Pacific Ocean. The marine resort and tourism destination is close to the Kainan Interchange on the Hanwa Expressway and within easy reach of Osaka.
The site offers a yacht club that can accommodate up to 100 vessels, with boarding and disembarking points, temporary mooring, refuelling facilities, water and power supplies, a repair workshop and maintenance services, as well as a self-propelled crane capable of handling vessels weighing up to 38 tonnes. The wider property includes the Wakayama Marina City Hotel, the tourist fish market Kuroshio Market, the hot spring facility Kishu Kuroshio Onsen and the Porto Europa theme park.
Kasumigaseki Capital has built its business around hotels for group guests, covering their planning, development and operations. Its approach draws on digital transformation, spatial design and partnerships with content providers in areas such as food and beverage and culture.
According to the company, it “will be engaged in new value creation” at Wakayama Marina City, utilising its expertise and maintaining relationships with the local community and the customer base developed at the site over the years.
Kasumigaseki Capital now plans to expand its business domain into a large-scale resort featuring theme parks and tourism facilities. The company said the expansion will help it respond to changing leisure and accommodation needs, support further business growth and enhance corporate value.
