Central hotels
on discounted rates
Ana hotels // 04/19/2007
The Japanese airline ANA agreed it to sell 13 hotels to the American investment bank Morgan Stanley for 2.4 billion USD. Financial experts think that this transaction is first of all for ANA advantageous, since the total purchase price of the hotels is 280 billion JEN while their total accounting value is only about 130 billion. However Morgan Stanley wants to extend his Japanese investments notably. It has already bought Japanese hotels and with this deal it will double the value of its Japanese hotel-investments. Many of these new hotels are of the highest category and are located in the best districts of the Japanese capital. Morgan Stanley think that this transaction is a good deal considering their optimistic outlook for Japans economy and hotel industry.