05:33 AM EDT, 05/07/2024 (MT Newswires) -- KKR (KKR) and Marriott International ( MAR ) announced Tuesday their foray into the midscale hospitality industry in Japan.

The move follows KKR's completion of its acquisition of Unizo Hotel Company and a portfolio of 14 hotels in Japan from Unizo Holdings. The duo did not disclose the financial details of the deal.

The 14 hotels will be converted to Four Points Express by Sheraton, the company said.

The deal marks Marriott's ( MAR ) entry into the affordable midscale segment in Japan and the brand's debut in Asia Pacific following its global launch in 2023, the companies said.

The properties will likely open in H2, adding more than 3,600 new rooms to KKR's and Marriott's ( MAR ) hotel portfolios in Japan.

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