Hyatt Hotels Corporation and Kiraku, Inc. have announced the upcoming launch of ATONA, a modern hot spring ryokan (Japanese-style inn) brand, with properties set to open in Yufu, Yakushima, and Hakone.
This brand was introduced in 2022 through a joint venture between a Hyatt affiliate and Kiraku, a Japanese company dedicated to preserving valuable cultural assets for future generations. The first ATONA ryokans are expected to open in 2026, located in some of Japan’s premier hot spring destinations and scenic areas.
Additionally, Hyatt and Kiraku have announced the first close of the Atona Impact Fund, a real estate fund focused on investing in ATONA ryokan development projects. The fund has secured an initial investment of 10 billion yen (approximately 64 million US dollars).
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Early investors include affiliates of Hyatt and Kiraku, as well as Takenaka Corporation, a leading Japanese construction firm. The fund aims to reach a final target of 20 billion yen (approximately 128 million US dollars).
Kou Sundberg, founder and CEO of Kiraku, expressed enthusiasm about the collaboration: “Hyatt is a leading global hospitality company synonymous with elevated contemporary luxury.
Aside from reaching valuable guests through World of Hyatt, the industry’s fastest-growing loyalty program, this collaboration enables us to leverage Hyatt’s global expertise to deliver high operational efficiency and exceptional guest experiences, focusing on long-term capital appreciation and substantial investor returns.
We are delighted to have identified prime locations for the first ATONA ryokans and successfully secured funding for the Atona Impact Fund. Having already partnered with Takenaka Corporation to restore a heritage sake brewery in Nagano, we are excited to expand our collaboration with more regional revitalization projects.”
Sam Sakamura, Hyatt’s vice president for Japan and Micronesia, echoed these sentiments, highlighting the potential of the ATONA brand: “Through the ATONA brand, we look forward to introducing Japan’s hot springs and new destinations to our World of Hyatt members, and international and domestic travelers alike.
With Kiraku’s expertise in deal sourcing, asset management, and business development, the ATONA brand is poised to meet the rising demand for high-end ryokans. At Hyatt, we believe business is personal.
We are excited to work with Kiraku and are grateful for the trust from Takenaka Corporation, with whom we have nurtured a long-standing relationship through various global projects, as we introduce fresh hospitality experiences to Japan.”
The collaboration between Hyatt and Kiraku marks a significant step in promoting Japan’s rich cultural heritage through luxury hospitality, ensuring these traditional experiences are preserved and enjoyed by future generations.
