GIC plans to sell Hilton hotel in Japan

The Hilton Fukuoka Sea Hawk hotel has an asking price of around 85 billion yen to 90 billion yen, said a source. — Bloomberg

SINGAPORE: Sovereign wealth fund GIC Pte is considering selling a 1,053-room hotel in western Japan, and has been marketing the property to potential investors since late last year, according to sources familiar with the matter.

The Hilton Fukuoka Sea Hawk hotel is located on the coast of Fukuoka – one of Japan’s major cities – and has an asking price of around 85 billion yen to 90 billion yen, said the source. Jones Lang LaSalle Inc is advising on the sale.