Red Planet Japan Inc., the Tokyo Stock Exchange listed subsidiary of Bangkok’s Red Planet Hotels, Friday announced a $111 million (JPY 11.77 billion) sale-and-leaseback transaction with global investment bank Goldman Sachs.
Under the terms of the transaction, Red Planet has sold ownership rights in the four hotels and simultaneously entered into a lease-and-operate agreement with Goldman Sachs for an initial period of 20 years, it said in a statement.
