Citi sells Niseko Village to Malaysian group YTL

Mar 11, 2010 

Malaysian group YTL officially confirmed its purchase of blue-chip Niseko investment, Niseko Village. The YTL group is one of Malaysia’s largest with close to $10 billion in combined market capitalization. YTL has a long relationship with Japan, and was the first non-Japanese Asian company to be listed on the Tokyo Stock Exchange. YTL’s main business lines include property ownership, development, construction, utilities, facility management, and hotels.

Hotels Magazine reported “To enhance the extraordinary summer season in Niseko, the company is already formulating plans for it to have an appeal beyond just the powder and greens crowd. We want to launch an International Food Festival that will attract chefs and gourmands from around the world, with the Pacific Ocean only 30 minutes away, offering some of the worlds best seafood and given Hokkaido’s reputation for being the bread basket of Japan says Sarah Cairns, YTLs Executive Vice President for Marketing and Communications.”

No doubt the new owners will be adding their already successful imprint to the international mix here in Niseko. It is expected that the increased global focus and investment they will bring will have significant flow on benefits for the overall area.

Posted by: Chris  |  category: Uncategorized |  Tag: