Hiroo Mori (right), President and CEO of Mori Hospitality Corporation with Grant Healy, Managing Director of Conduit House Limited
January 23, 2019, Tokyo – Mori Hospitality Corporation, a leading Japanese hospitality group, has made a strategic investment into Hong Kong based Conduit House Limited, a fully integrated asset manager and private equity investor focused on hospitality oriented real estate.
"Conduit House represents a unique platform for Mori Hospitality to extend its exposure to hospitality opportunities in Asia beyond Japan. Conduit House’s approach of adding value by repositioning, refurbishing and redeveloping underperforming assets with its fully integrated platform provides a compelling opportunity for us, an opportunity which complements our existing businesses. We believe that our investment in Conduit House will provide further depth, experience and pipeline to our organization as well as future partnership opportunities," said Hiroo Mori, President and CEO of Mori Hospitality Corporation.
As a wholly owned subsidiary of Mori Building Group, one of the most successful urban developers in Japan, Mori Hospitality Corporation is a full-service hospitality company with an industry leading hospitality portfolio. Over the past two decades, Mori Hospitality has established a stellar reputation with their iconic landmark developments in Tokyo, including Grand Hyatt Tokyo in Roppongi Hills, Andaz Tokyo in Taranomon Hills, and in Shanghai, Park Hyatt Shanghai located in the iconic Shanghai World Financial Center. The portfolio also includes the prestigious Roppongi Hills Club, a 3900 strong Member’s Club which occupies the entire 51st Floor of Roppongi Hills Mori Tower.
"We are thrilled to welcome Mori Hospitality as an investor and strategic partner, a participation which we believe significantly amplifies Conduit House’s growth opportunities," said Grant Healy, Managing Director of Conduit House. "Mori Hospitality aligns with our goals and focus of providing a partnership approach to hospitality-oriented real estate private equity. We will be looking at a number of compelling opportunities including asset turnaround and repositioning, redevelopments, asset management and distressed situations across South-East Asia, Australia, China and Japan in gateway cities".
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