JAL to sell part of its stake in JAL Hotels to Hotel Okura

Japan Airlines (JAL) announced the decision to sell 79.6% of its share in JAL Hotels to Hotel Okura today. After the transaction, JAL will maintain 11.1% of stake in JAL Hotels. Both brands of Hotel Nikko and JAL Hotel City will be retained and JAL Mileage Bank (JMB) members can keep accumulating miles and using JAL Coupons at the JAL Hotels chain. JAL Hotels and Hotel Okura will cooperate closely to improve profitability. For details, you can refer to JAL Press Release.