“The divestment of Hotel WBF Namba Motomachi enables the group to exit a non-performing asset at a bearable loss and put the capital to more productive use,” says Thakral’s CEO and executive director, Inderbethal Singh Thakral. “We are also looking to sell the remaining two hotels.”
Thakral Corporation Ltd has divested its investment in the Hotel WBF Namba Motomachi in Osaka, Japan for a consideration that is about 2% lower than its original acquisition cost and valuation of the property as of December 31, 2021.
The Hotel WBF Namba Motomachi was acquired in September 2018.
