Apa Hotels completed the acquisition of Ishin Hotels Group from Alpine Grove.

Apa Hotels, a Japanese hotel brand, completed the acquisition of Ishin Hotels Group, a chain of urban hotels in Japan, from Alpine Grove, an international real estate investment firm. Financial terms were not disclosed. While APA Group had been expanding through direct ownership and franchising, it recognized the need to fully introduce rental and management contract (MC) methods as a new expansion model. Ishin Hotels Group specializes in operating through rental and MC methods, and its subsidiary acquisition is expected to accelerate growth.