Leading diversified professional services and investment management firm Colliers has announced the establishment of a new service offering in its  growing Japan business.

Colliers’ Hotels & Hospitality Services division will commence operation in Japan on October 1, with Kei Sumiyoshi appointed as the Senior Director & Head of Hotels & Hospitality.

Reporting to Yukihiro Ogasawara, Managing Director & Chairman of Colliers in Japan,  Sumiyoshi will work closely with him and collaborate with all service lines to accelerate the  expansion of Colliers into Japan's hotels and hospitality sector.

Sumiyoshi has been involved in the financial and real estate industries, specialising in real estate brokerage and M&A advisory services, for more than 30 years. He has more than 20 years’ of  experience in the hotels and hospitality sector. Prior to joining Colliers, he worked at Jones Lang  LaSalle K.K. and Deloitte Tohmatsu Financial Advisory LLC, where he was responsible for real  estate sales and travel, hospitality, and leisure.

Ogasawara commented: “I am confident that Sumiyoshi’s extensive knowledge of the real estate  market and his enterprising spirit will enhance our growing capabilities, accelerate success for  our clients, and help us lead the industry into the future.”

Sumiyoshi commented: “In recent years, Japan has been increasing the weight of the tourism  industry as one of the pillars of sustainable industry, and it aims to attract 60 million inbound  tourists by 2030. In line with this, domestic travel and the accompanying demand for  accommodation are also being revitalized, and hotel services are diversifying in response to the  needs of guests. On the other hand, due to the rising cost of acquiring land and building hotels,in order to make a facility that can generate stable revenue from the time it opens, it is necessary  to have a lot of specialized know-how, such as service, skills, and maintenance.

“With the establishment of the new Hotels & Hospitality Services team in Japan, Colliers will  leverage our extensive track record and know-how in the hotel and hospitality sector, cultivated  both in Japan and overseas over many years.

We will also leverage our comprehensive service capabilities as an experienced real estate provider to provide a wide range of high value-add  services in the hotel and hospitality sector, from transaction advisory services for hotels in Japan to income and expenditure forecasting surveys for owners and investors.”

Colliers’ new Hotels & Hospitality Services offering will include:

• Transactional services (agency)
• Advisor to sellers on the sale of hotel and hospitality-related assets and operations ・Advisor to buyers on the acquisition of hotel and hospitality-related assets and  operations
• Hotel assets include hotels, hotel condominiums, guesthouses, inns, and glamping  facilities
• Hotel and hospitality-related consulting
• Projections of income and expenditure for hotel and hospitality-related businesses (existing and to-be-developed facilities)
• Selection of operators for newly opened hotels (including both operation and  management contracts and lease contracts)
• Negotiation of terms and conditions for hotel management contracts
• Hotel market research
• Valuations
• Valuation of assets and operational businesses related to hotels and hospitality

The creation of the new service line in Japan is the latest in the continued growth of Colliers’  hotel and hospitality services across the US, Europe, and Asia.

*The term “hospitality” includes nursing care facilities, housing for the elderly, and other facilities, as well as more broadly including tourist-related facilities such as golf courses and ski resorts.