KKR & Co. Inc. and Marriott International, Inc. announced the launch of each company?s foray into the midscale hospitality space in Japan, which follows KKR?s completion of the acquisition of Unizo Hotel Company, Limited and a portfolio of 14 hotels in Japan from Unizo Holdings. The 14 hotels will be converted to Four Points Express by Sheraton.

This marks Marriott?s entry into the affordable midscale segment in Japan and the brand?s debut in Asia Pacific following its global launch in this space in 2023. The portfolio of 14 hotels is located in major tourist destinations in 10 cities across Japan, including Hakodate, Morioka, Utsunomiya, Yokohama, Kanazawa, Nagoya, Osaka, Kyoto, Kobe, and Hakata. The properties are expected to open in the second half of 2024, adding more than 3,600 new rooms to KKR?s and Marriott?s respective hotel portfolios in Japan.

Four Points Express by Sheraton will offer value-conscious consumers a seamless hotel experience in convenient locations throughout Japan, with principles of reliability, simplicity and value in both the design and guest experience. The brand has been tailored to meet guests? needs, and the brand standards contemplate an efficient cost model that is intended to provide an effective pricing strategy for franchisees and help drive meaningful growth for Marriott.

This new midscale brand is part of Marriott?s Marriott Bonvoy loyalty platform, which boasts over 200 million global members. It will leverage Marriott's world class Global Sales Organization, and strong digital platforms like Marriott.com and the Marriott Bonvoy mobile app, to generate direct bookings.