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Native name | 株式会社西武・プリンスホテルズワールドワイド Kabushiki-gaisha Seibu Purinsu Hoteruzu Warudowaido |
|---|---|
| Company type | Kabushiki gaisha |
| Industry | Hotels |
| Founded | 4 June 1956 |
| Headquarters | 3-1-5 Higashi Ikebukuro, Toshima-ku, Tokyo , Japan |
| Parent | Seibu Holdings, Inc. |
| Subsidiaries | StayWell Holdings |
| Website | www |
The Prince Hotels, Inc. (株式会社プリンスホテル, Kabushiki-gaisha Purinsu Hoteru) is the name of a hotel chain company headquartered in Toshima-ku, Tokyo, Japan. It is a subsidiary of Seibu Holdings, Inc. Together with Seibu Railway, Prince Hotels is the core company of Seibu Group.
During the Allied occupation of Japan following World War II, many members of the Japanese peerage lost their titles and were subject to crippling taxation on their real estate holdings. Yasujirō Tsutsumi, who controlled the Seibu Railway through the Kokudo Corporation, arranged to buy several of these families' properties at a discount and used them to develop hotels. The first of these hotels, the Grand Prince Hotel Takanawa, opened in 1953 on the site of the Takeda-no-miya residence. The Tokyo Prince Hotel opened in 1964 on a site that originally housed graves of several Tokugawa family shoguns, whose bodies were moved to the neighboring temple of Zojo-ji.
Originally, hotels branded as Prince Hotels were not wholly owned by Prince Hotels Company, but were instead operated by different companies, such as Seibu Railway, Kokudo, or Izuhakone Railway. The management system of Prince Hotels was described as "debt operation" by the media. It borrowed funds from banks, developed land using the funds, and borrowed more funds with the growth of land values. The system worked in the 1960s with Japanese economic growth, until the 1990s when the bubble economy burst.
Under the reorganization of the Seibu Group following the de-listing of Seibu Railway in 2005, Prince Hotels Company merged with Kokudo. All the Prince Hotels are now operated by Prince Hotels Company. Because of the unreasonable expansion in the past, the company has many underperforming facilities. Under the current[ date missing ] plan of turnaround, it closed, sold, and plans to close or sell roughly 40 facilities.
Tsutsumi registered Seibu Railway shares owned by Kokudo in the names of various affiliated individuals, often without their permission, so that the true ownership of the company was not readily apparent. [1] Following the death of Tsutsumi in 1964, his third son Yoshiaki Tsutsumi inherited control of Kokudo and continued the practice of falsifying shareholder records. His holdings in Kokudo and Seibu led to his being deemed the "world's richest man" by Forbes magazine for four consecutive years from 1987 to 1990, with estimated net worth of $15–20 billion during the height of the Japanese asset bubble. He was arrested on securities fraud charges in March 2005. [2]
On December 21, 2005, Seibu Railway was delisted from the Tokyo Stock Exchange. A reorganization of the group, completed in February 2006, created Seibu Holdings to act as a holding company for both the railway and Prince Hotels. Cerberus Capital Management, an American investment fund, became the largest shareholder in Seibu Holdings with a 29.9% share of the new company.
In late 2012 and early 2013, Cerberus proposed that Seibu Railway abolish five non-core lines, along with other restructuring measures throughout the Seibu Holdings group, but management refused to implement these changes. Cerberus then executed a tender offer to increase its stake to 35% as of June 2013, giving Cerberus the power to veto shareholder resolutions. [3] Cerberus had aimed to raise its stake to 44%, bringing it closer to an outright majority, but Seibu management engaged in a massive campaign to thwart the tender offer, including advertising within Seibu trains to passengers who owned stock. The East Japan Railway Company and several financial institutions also planned a support scheme to keep Cerberus from acquiring control of Seibu, but it was ultimately not implemented due to a lack of potential financial benefit for the investors. At the June 2013 shareholder meeting, several proposals by Cerberus were voted down, including the election of outside directors and the abolition of non-core lines. [4]
As of June 2013 [update] , Yoshiaki Tsutsumi remains a major investor in Seibu Holdings through his 36% investment in NW Corporation, the second-largest shareholder in the company with a share of around 15%. Tsutsumi refused to respond to the Cerberus tender offer at the urging of Seibu management. [4]
The following list uses the English translations of the hotel names. [5]
The Prince is the brand name for the most luxurious hotels by the company.
Grand Prince Hotels is the brand name for city hotels.
Chairlifts are excluded.
Nagano Prefecture is a landlocked prefecture of Japan located in the Chūbu region of Honshū. Nagano Prefecture has a population of 2,007,682 and has a geographic area of 13,561.56 square kilometres (5,236.15 sq mi). Nagano Prefecture borders Niigata Prefecture to the north, Gunma Prefecture to the northeast, Saitama Prefecture to the east, Yamanashi Prefecture to the southeast, Shizuoka Prefecture and Aichi Prefecture to the south, and Gifu Prefecture and Toyama Prefecture to the west.
Gunma Prefecture is a landlocked prefecture of Japan located in the Kantō region of Honshu. Gunma Prefecture has a population of 1,937,626 and has a geographic area of 6,362 km2. Gunma Prefecture borders Niigata Prefecture and Fukushima Prefecture to the north, Nagano Prefecture to the southwest, Saitama Prefecture to the south, and Tochigi Prefecture to the east.
Karuizawa is a resort town located in Nagano Prefecture, Japan. As of 1 October 2016, the town had an estimated population of 20,323 in 9897 households, and a population density of 130 persons per km2. The total area of the town is 156.03 km2 (60.24 sq mi). Karuizawa, one of the oldest and most famous summer resorts in Japan, has been visited by many people from around the world since the 19th century.
Hakone is a town in Kanagawa Prefecture, Japan. As of 1 October 2023, the town had a population of 10,965, and total area of 92.82 km2 (35.84 sq mi).
Tsumagoi is a village located in Gunma Prefecture, Japan. As of 1 September 2020, the village had an estimated population of 9,546 in 3,999 households, and a population density of 28 persons per km². The total area of the village is 337.51 square kilometres (130.31 sq mi).
Yoshiaki Tsutsumi is a Japanese businessman. During the Japanese economic bubble, Forbes listed Tsutsumi as the wealthiest person in the world during 1987–94 due to his extensive real estate investments through the Seibu Corporation, which he controlled. In 1987, he had a net worth of $20 billion. However, as a result of a series of scandals and his 2005 arrest, his net worth has fallen to such an extent that he was taken off the Forbes list of billionaires in 2007.
Seibu Railway Company, Ltd. is a conglomerate based in Tokorozawa, Saitama, Japan, with principal business areas in railways, tourism, and real estate. Seibu Railway's operations are concentrated in northwest Tokyo and Saitama Prefecture; the name "Seibu" is an abbreviation of "west Musashi", referring to the historic name for this area. It and its holding company hold shares of numerous bus, hotel and tourism operations nationwide.
Jōshin'etsu-kōgen National Park is a national park in the Chūbu region of the main island of Honshū, Japan formed around several active and dormant volcanoes. It spans the mountainous areas of Gunma, Nagano, and Niigata prefectures. The name refers to the two mountain ranges that make up the park. It was divided into two separate areas: the Southern Niigata/North Nagano Area and the East Nagano Area.
Lake Ashi, also referred to as Hakone Lake or Ashinoko Lake, is a scenic lake in the Hakone area of Kanagawa Prefecture in Honshū, Japan. It is a crater lake that lies along the southwest wall of the caldera of Mount Hakone, a complex volcano that last erupted in 1170 CE at Ōwakudani. The lake is known for its views of Mount Fuji, its numerous hot springs, historical sites, and ryokan. The lake is located on the Tōkaidō road, the main link between Kyoto and Tokyo. A number of pleasure boats and ferries traverse the lake, providing scenic views for tourists and passengers. Several of the boats are inspired by the design of sailing warships.

The Seibu Prince Rabbits were an Asia League Ice Hockey team based in Nishitōkyō City in Tokyo, Japan that was folded in 2009. The Rabbits played at the DyDo Drinco Ice Arena from 2006-2009. In December 2008, Prince Hotels, the team's owner, announced that the team would be folded at the conclusion of the 2008-09 season.
The Class D51 (D51形) is a type of 2-8-2 steam locomotive built by the Japanese Government Railways (JGR), the Japanese National Railways (JNR), and Kawasaki Heavy Industries Rolling Stock Company, Kisha Seizo, Hitachi, Nippon Sharyo, Mitsubishi, and Mitsubishi Heavy Industries from 1936 to 1945 and 1950 to 1951. 174 units are in preservation in Japan, including five operational examples. A further 13 are preserved in Russia and Taiwan, bringing the total number of preserved units to 187.
The Kamori Kankō (加森観光) is a tourist company operating hotels and amusement parks, mainly in Hokkaidō, Japan. The company is headquartered in Sapporo. Its most important resort facility has been Rusutsu Resort. The company was founded in 1981, and its group rapidly expanded after 1998, through mergers of underperforming facilities.
Karuizawa Station is a railway station in the town of Karuizawa, Nagano, Japan, operated jointly by the JR Group company East Japan Railway Company and the third-sector railway operator Shinano Railway.
Naeba Ski Resort is a ski resort on the eastern slope of Mount Takenoko (筍山) in Yuzawa (湯沢町), Niigata Prefecture.
Furano Ski Resort, also known as Furano Ski Area, is a resort in Furano, Hokkaido, Japan, owned and operated by Prince Hotels. The resort is notable for its long-standing association with the FIS Alpine Ski World Cup. In recent years, it has hosted the mid-February Snowboarding World Cup. Recently, interest from international winter sports enthusiasts, particularly from Australia, has led to an annual rise in tourist numbers.
Hoshino Resort Co., Ltd. is a Japan-based international operator of ryokan and hotels originally established in Karuizawa, Nagano. Founded by Kuniji Hoshino in Karuizawa, Nagano Prefecture, it opened its first hot spring resort in 1914.
Seibu Holdings, Inc. is a Japanese holding company that primarily owns Seibu Railway, Prince Hotels, and Seibu Bus and its subsidiaries, which are collectively known as the Seibu Group. In total, fifty-three companies across the world are affiliated with the Seibu Group. The company was formed in 2006 to restructure the group after it had come to light in 2004 that the predecessor to Seibu Holdings, Kokudo, had falsified the ownership of its shares in Seibu Railway for over forty years.
Hakone Onsen, or Hakone Hot Springs, is a general term for numerous thermal spas located in the town of Hakone, Ashigarashimo District, Kanagawa Prefecture, Japan, an area formerly known as Sagami Province. Situated about 90 kilometres (56 mi) southwest of Tokyo and 60 kilometres (37 mi) east-southeast of Mt. Fuji, it is one of the most popular hot spring resorts in central Japan. At least twenty hot spring spring resorts exist around Mt. Hakone, an area that is designated as part of the Fuji Hakone Izu National Park.