KKR Sells 16 Four Points Flex by Sheraton Hotels in Japan
KKR announced on September 25, 2026, that it had completed the sale of 16 hotels under the Four Points Flex by Sheraton brand held through funds it manages. The buyer is a major global institutional investor, and neither its name nor the sale price has been disclosed.
The portfolio is located in 11 cities across Japan, including Greater Tokyo, Osaka, Kyoto and Fukuoka. KKR acquired the hotels from UNIZO Holdings in 2024. In May of that year, it announced a partnership with Marriott International to convert 14 Unizo-affiliated hotels to Four Points Express by Sheraton, a new select-service brand.
During its ownership, KKR says it renewed the facilities through full-scale renovations, strengthened management and reorganized the business, introduced institutional-grade budget control and revenue management, and developed human resources systems. Following the sale, KJR Management (KJRM), which KKR acquired in 2022, will continue to serve as asset manager, and K+ Hospitality Management, KKR's domestic hotel operating company, will continue to operate the hotels.
KKR continues to invest in Japanese real estate. In December 2025, it signed an agreement with Hong Kong-based PAG to acquire in stages all shares of Sapporo Real Estate, which owns Yebisu Garden Place and other assets, from Sapporo Holdings.
Key Facts
- Property Name: Four Points Flex by Sheraton (16 hotels)
- Seller: Funds managed by KKR
- Buyer: Undisclosed (a major global institutional investor)
- Transfer Price: Undisclosed
- Transaction: Sale completed (announced September 24, 2026)
- Location: 11 cities across Japan, including Greater Tokyo, Osaka, Kyoto and Fukuoka
- Use: Hotel (select-service)
- Previous Owner: UNIZO Holdings Company, Limited (acquired by KKR in 2024)
- Brand: Four Points Flex by Sheraton (Marriott International)
- Asset Management Company: KJR Management (continuing)
- Hotel Operating Company: K+ Hospitality Management (continuing)