Hyatt and Kiraku Announce Plans for New Luxury Hot Spring Ryokan Brand Atona
Hyatt Hotels Corporation and Kiraku, Inc. announced that ATONA, the modern hot spring ryokan (Japanese-style inn) brand, will open properties in Yufu, Yakushima, and Hakone.
The ATONA brand was announced in 2022 under a joint venture between a Hyatt affiliate and Kiraku, a Japanese company dedicated to preserving valuable assets for future generations. The first ATONA ryokans are slated to open in 2026 across some of Japan's top hot spring destinations and areas of natural beauty.
Hyatt and Kiraku also announced the first close of Atona Impact Fund, a real estate fund that will actively invest in ATONA ryokan development projects, securing an initial funding of 10 billion yen (approximately 64 million US dollars). First round investors include affiliates of Hyatt and Kiraku, as well as Takenaka Corporation, a leading Japanese construction firm. The fund is aiming for a final target of 20 billion yen (approximately 128 million US dollars).