Japanese creative hospitality brand startup NOT A HOTEL announced six new sites created with world-renowned creators as part of a major expansion.
It also stated that it has raised around about $35 million in a series B financing to finance this ambitious endeavour, which is estimated to produce 100 billion yen (about $638 million US) in sales over two years.
Not A Hotel,The internationally known director NIGO will direct this Tokyo suburb production.The Snøhetta-designed property is located at the Rusutsu Resort in Hokkaido.A new Miura City, Kanagawa Prefecture site.Sakijima, an isolated island in the Seto Inland Sea, will get three residences.
Since its start four years ago, NOT A HOTEL has done well. Total contracts: 22.7 billion yen ($145 million). 597 property owners, 9 locations launched, 99% visitor satisfaction across all properties.
Read also- Dubai-Based Pathfinder has Raised $325 Million in Funding
The goal of NOT A HOTEL is to draw in affluent foreign patrons:
Currently, 30% of enquiries originate from outside.a new worldwide website was launched, emphasis on premium properties to appeal to a global audience, Special reciprocal usage arrangement that permits stays across borders
Funded approximately 10.5 billion yen (roughly $67 million US) to date, with 5.5 billion yen (about $35 million US) raised through private placement and J-KISS (a straightforward term sheet framework for a convertible instrument for early startups to obtain initial financing). Token-based financing is being considered for the future.
Read also- India-Based Nykaa to Secured Around $15 Million in Via Non-Convertible Debentures Funding
The growth of NOT A HOTEL represents a noteworthy advancement in Japan’s upscale hospitality industry. With a focus on world-class creators and a fusion of Japanese tradition and modern design, the firm hopes to provide distinctive experiences that appeal to both local and foreign travellers.
This large-scale project offers creative methods to highlight Japan’s varied tourism resources in addition to its promise to revive the market for luxury villas.
About Not A Hotel
NOT A HOTEL uses cutting-edge technology and design to promote sustainability and social responsibility in the business, properties, and communities. It offers great residences in exceptional places by exceptional designers. They aim to set a global standard for inspired living.
