Key Facts
• February 2024: Historic inn Choeikan in Iwate declared bankruptcy due to COVID-19.
• March 2024: Former owner sentenced for defrauding $28.5 million in government subsidies.
• July 2025: Planned reopening under new ownership by NBI Holdings.
• NBI Holdings, led by Takayuki Kanaya, aims to invest $2 billion in two years.
• Choeikan’s renovation includes increasing rooms from 55 to 57 and preserving its hot spring charm.
• Partnership with SMFL Mirai Partners for financial support and operational stability.
• Target audience: local, metropolitan, and international visitors.
• Oushuku Onsen, with a 450-year history, is a key cultural and tourism asset.
• Renovation focuses on modern comfort while retaining traditional aesthetics.
• Future plans include potential rebranding and further business development.
Summary
Choeikan, a historic inn in Iwate’s Oushuku Onsen, is set to reopen in July 2025 after bankruptcy caused by the COVID-19 pandemic. Acquired by Tokyo-based NBI Holdings, the inn’s revival is part of a $2 billion investment plan to rejuvenate struggling accommodations nationwide. Renovations will expand rooms and enhance facilities while preserving the inn’s traditional hot spring appeal. Financial backing from SMFL Mirai Partners ensures stability during the transition. NBI Holdings, led by Takayuki Kanaya, aims to attract local, metropolitan, and international visitors, highlighting the potential of rural tourism. The project symbolizes hope for the hospitality industry, severely impacted by the pandemic.
