Fortress Investment Group Obtains Preferred Negotiation Rights for the Revitalization of Awaji Yumebutai

Awaji Yumebutai to be revitalized under the “Seagaia” brand

TOKYO--(BUSINESS WIRE)--Fortress Investment Group announced today the receipt of preferred negotiation rights from Hyogo Prefecture for the revitalization of Awaji Yumebutai, located in Awaji City, Hyogo Prefecture.

Funds managed by affiliates of Fortress Investment Group (“Fortress”) intend to invest in the property with the aim of transforming Awaji Yumebutai into a “destination resort catering to a broad range of guests.” Planned initiatives include rebranding the property under the “Seagaia” brand, the renovation of guest rooms, the development of hot spring facilities, the creation of a new kids’ park, and the introduction of digital art experiences.

The property is a large-scale mixed-use complex located in Awaji City, Hyogo Prefecture, designed by renowned architect Tadao Ando. It includes a hotel (Grand Nikko Awaji), an international conference center, botanical gardens, gardens, restaurants, and other facilities, and has been developed with the aim of promoting tourism, exchange, and regional revitalization.

Fortress intends to carry forward the architectural concept envisioned by Tadao Ando while further enhancing the growth of MICE utilizing the international conference center.

Hyogo Prefecture launched a public solicitation process in March 2026 for operators of the hotel and related facilities.

Iconia Hospitality Co., Ltd. (“Iconia”), which operates the Seagaia brand, is the core platform of Fortress’s hotel business in Japan. Iconia manages 188 hotels and 25,879 rooms as of October 2026, and has a strong track record of successfully transforming and revitalizing numerous hotels and leisure facilities. Iconia specializes in the revitalization, transformation, and operation of destination resorts catering to a broad range of guests, from children to adults.

Since 2011, Fortress has acquired more than 200 hotels (more than 31,000 rooms) across Japan. Fortress has also participated in the management of locally rooted landmark hotel businesses, including Kanpo no Yado in 2021, the historic Hotel New Akao in Atami in 2022, Phoenix Seagaia Resort in Miyazaki Prefecture in 2024, and Spa Resort Hawaiians in Fukushima Prefecture in 2025.

“Fortress is honored to have been granted preferred negotiation rights for the revitalization of Awaji Yumebutai, one of Awaji City’s landmark facilities,” said Akio Yamashita, Head of Asia and Co-Head of Japan Real Estate, and Representative in Japan. “We are committed to working closely with the local community, the municipality, and the employees working at this facility to invest in the property and build an even better resort for the future.”

About Fortress Investment Group

Fortress Investment Group LLC is a leading, highly diversified global investment manager serving institutional clients and private investors worldwide. Founded in 1998, Fortress manages US$55 billion of assets under management (AUM) as of June 30, 2026, across a broad range of credit and real estate, private equity and permanent capital investment strategies. AUM refers to assets Fortress manages, including capital that Fortress has the right to call from investors, or investors are otherwise required to contribute, pursuant to their capital commitments to various funds or managed accounts. For more information, please visit the Fortress website. www.fortress.com