Imperial Hotel Co., Ltd. (President Hideya Sadayasu) plans to rebuild its flagship hotel, the Imperial Hotel Tokyo, from 2024 to 2036. In addition to the current main building and tower building, the business area will be expanded to the central area of the block through its standing as a part of the Tokyo Cross Park Vision (Uchisaiwaicho 1-chome District Development Project). By developing the banquet hall business and new hotel business activity there, we expect to continue to grow in business.
In the central zone, which will be a new area of business expansion, we will set up a large banquet hall of over 1,000 m² with Mitsui Fudosan Co., Ltd., a partner in the TOKYO CROSS PARK vision, and operate it as a banquet hall operated by the Imperial Hotel, Tokyo. In addition, we will open a new brand of small luxury type accommodation with our partner, NTT Urban Development Corporation.
In addition, in the north zone, which is the current business area, we will provide rental offices, serviced apartments and rental residences in the new tower building, scheduled for completion in 2030. In addition, we will provide services related to guest rooms, banquet halls and restaurants in the new main building, scheduled to be completed in 2036, as new rentals.
Based on the above plan, we will continue to operate while maximizing the scale of our businesses during the rebuilding period.
The details of the business continuity plan for the Imperial Hotel, Tokyo and its construction schedule are as follows.
Business continuity plan and construction schedule of Imperial Hotel, Tokyo
On March 24, 2022, as part of the development project dubbed the Tokyo Cross Park Vision in the Uchisaiwaicho 1-chome District, a basic schedule for activity in the entire district, including the Imperial Hotel, was announced. Details of the business continuity plan and construction schedule for Imperial Hotel, Tokyo from 2024 to 2036 are as follows.
Mitsui Fudosan Co., Ltd. is a partner in the Central Tower in the central zone, which is scheduled to be completed in 2029. In the lower banquet hall space, a large banquet hall of over 1,000 m² and a medium sized banquet hall of 300 m² will be created as banquet facilities equipped with the latest audiovisual facilities. These are to be operated as banquet halls of the Imperial Hotel. In the upper part, NTT Urban Development Corporation will be our partner. We will open a small luxury hotel specializing in accommodation, which will represent a new brand, with 100 rooms.
In the North Tower in the north zone, where building is scheduled to be completed in 2030, we will develop a rental office business similar to that in the current tower building. At the same time, we will provide the serviced apartments that are currently popular. In addition, by starting the rental housing business, which would be a new enterprise, we would provide an enhanced value in living in Hibiya. From 2031 to 2036, during rebuilding of the main building, we will continue to operate banquet halls and new brand hotels in the Central Tower in the central zone, as well as rental offices, serviced apartments, and rental housing in the new tower building in the north zone.
The new main building, scheduled to be completed in 2036, has adopted an initial design proposal created by architect Tsuyoshi Tane (ATTA - Atelier Tsuyoshi Tane Architects) who lives in France. Befitting a "new grand hotel / guest house", it will be a building that embodies the presence and uniqueness of a deluxe hotel from any perspective, from both close up and from distances. With the completion of the new main building and the start of operations, we will offer a variety of business activities, such as accommodations, banquet halls, restaurants, offices, serviced apartments, and rental housing, appropriate for a "Grand Hotel" in the future, in three buildings. At the same time, by expanding the business area to the middle of the district, the largest business scale since its opening will be established. With the latest hardware and cultivated hospitality, we will further improve our brand power. And as a "Made in Japan" hotel, we will continue to create and provide new value.