Japan travel agency group sells theme park stake
Major Japan travel agency group H.I.S. Co. is selling its entire stake in the Huis Ten Bosch theme park resort in Sasebo, Nagasaki Prefecture.
Hong Kong-based investment fund PAG will buy the 66.7% stake for $480 million.
Also, the other major shareholders of the resort will sell to the operator of Dutch-themed Huis Ten Bosch.
PAG also has invested in Universal Studios Japan in Osaka.
H.I.S. reported a record net loss of 26.9 billion yen for the six months through April, with demand for overseas travel plummeting against the backdrop of the pandemic.
In response to the huge loss, the travel agency said last week that it will reduce its capital to 100 million yen from the current 24.8 billion yen to improve its financial standing.
Huis Ten Bosch first opened in 1992, and went bankrupt in 2003
However, H.I.S helped turn around the business a decade ago.
Ray Monty
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Phocuswright reveals the world's largest travel markets in volume in 2025
Cyclone in Sri Lanka had limited effect on tourism in contrary to media reports
Higher departure tax and visa cost, e-arrival card: Japan unleashes the fiscal weapon against tourists
In Italy, the Meloni government congratulates itself for its tourism achievements
Singapore to forbid entry to undesirable travelers with new no-boarding directive