April 24, 2024
To the media and press
Tokyu Land Corporation
The Sankei Building Co., Ltd.
Mitsubishi Estate Residence Co., Ltd.

Tokyu Land to commence condominium sales at“GLAMDAY-STYLE HOTEL & RESORT KYU-KARUIZAWA,”
Karuizawa’s “first”*1 newly-constructed hotel-condominium facility for sale,in late June 2024
Tokyu Land Corporation (Headquarters: Shibuya-ku, Tokyo; President and CEO: Hiroaki Hoshino; “Tokyu Land”
below), The Sankei Building Co., Ltd. (Headquarters: Chiyoda-ku, Tokyo; President & CEO: Kazunobu Iijima)
and Mitsubishi Estate Residence Co., Ltd. (Headquarters: Chiyoda-ku, Tokyo; Representative Director,President & Executive Officer: Masaharu Miyajima) hereby announce that plans for “GLAMDAY-STYLE HOTEL& RESORT KYU-KARUIZAWA” (“Hotel” below), the first newly-constructed hotel-condominium facility for salein the Town of Karuizawa, has gotten underway in the Town of Karuizawa, Kita-Saku County, Nagano, and thatsales of condominiums there will commence in late June 2024. The Hotel is scheduled to open in Summer 2025.
A website for the property will be opened today on April 24 prior to the commencement of condominium sales.
Property URL: https://gs-kyukaruizawa.jp*1: This marks the first example in the Town of Karuizawa of a newly-constructed hotel-condominium for sale as a sectional ownership building.
[As of November 2023; according to research by Industrial Marketing Consultants Co., Ltd.]The Hotel will be a newly-constructed hotel-condominium for sale that will appear in Kyu-Karuizawa, which isadored by people of culture as a villa district and summer retreat area. A defining characteristic of the Hotel is
how users, by becoming owners of guest rooms, can use the hotel as if it were a vacation home, lease theguest room out as a hotel room when they are not using it and, in doing so, enable themselves to mitigate
maintenance expenses and avoid the time and effort that goes into room maintenance and management. A
restaurant terrace will be placed in the part of the Hotel facing Kyu-Karuizawa Ginza-dori Street so users canenjoy the nature of Karuizawa using all of their five senses. For external elements, tree species will be selectedwith local vegetation in mind and the exterior will be made green through planting on balconies inside thebuilding while incorporating existing trees. These will be part of efforts to promote a vegetation plan that is inharmony with the nature of Karuizawa.
For the interior as well, the lobby will consist of a relaxed space containing ample wood, and guest rooms, allof which incorporate an inner balcony, will sport a design that will enable users to fully enjoy the rich colors andnature of Karuizawa’s four seasons even while inside their room. The common areas, which will include a large
natural hot spring bath with a sauna, will be high-quality spaces where users can refresh themselves.

1While Karuizawa is a highly-popular area offering convenient access from greater Tokyo, it contains a large
number of stand-alone-type and condominium-type vacation homes, and actually still has very few in the wayof hotel condominiums. With the “joy of owning a vacation home” and “ease of maintenance and management”
that they offer, hotel condominiums meet broad vacation home needs, and will go on to provide new ways ofmaking it worthwhile to stay in an area that will continue growing as a tourist destination that attracts attention
from all over the world.

Image representation of external appearance

Image representation of guest rooms■ Spacious guest rooms accompanied with an inner balcony
The average guest room area at the Hotel will be 76 m2. In addition to anInner balcony

abundant room lineup whose area ranges from approximately 51 m2 to118 m2, the Hotel will have an inner balcony place in all of its guest rooms.
Room interiors will have a striking wide opening and coved ceiling. Frombalcony

Guest room

there, the scenery and feeling of openness outside the room can beenjoyed regardless of the season. This spatial design is unique to
Karuizawa and its rich abundance of nature. Additional elements such as
owner lockers and the fireplaces in all guest rooms that add warmth andcolor to winter stays in Karuizawa allow users to enjoy luxurious momentsin peace alongside panoramic views of the four seasons.

■ Common areas that make users feel like they are surrounded by nature
At the Hotel, the beauty brought forth by the shape and shading of elements of Karuizawa’s landscape, suchas groves, stacks of firewood, moss, fallen leaves and Asama stone masonry, the gentleness when they are
touched and the atmosphere woven by their strength have been expressed with care. In common areas suchas the entrance, stacks of firewood and other forms of trees cut down within the Hotel site are scheduled to bereused as much as possible. Moreover, having adopted a vegetation plan that is in harmony with Karuizawa’s
nature while incorporating its existing trees, the Hotel will select tree species in a manner that is conscious of2

local vegetation. Additionally, a large natural hot spring bath with a sauna has been put in place so that users
can enjoy hot springs, a rarity in Karuizawa, that contain water brought from the hot spring resorts of KitaKaruizawa and Okuwa.

Image representation of entrance

Image representation of large natural hot spring bath with sauna■ A restaurant terrace that blends into the town of Kyu-Karuizawa
At the Hotel, a restaurant terrace was placed along Kyu-Karuizawa Ginza-dori Street for use by individuals
visiting Karuizawa. Diners will be able to savor the delicious taste of the area’s four seasons served in the formof authentic Italian cuisine. Additionally, with Japanese maple trees newly planted to inherit the rows of trees
sporting fall foliage that line Kyu-Karuizawa Ginza-dori Street, users can enjoy the seasonal changes ofKaruizawa even as they dine.

Image representation of restaurant terrace along Kyu-Karuizawa Ginza-dori Street3

■ Initiatives aimed at the environment
Main initiatives at GLAMDAY-STYLE HOTEL & RESORT KYU-KARUIZAWA

Installation of solar

Installation of charging

Relocation of certain

Inheriting of rows ofpanels and utilization ofequipment for electric

existing trees based ontrees with fall foliage

renewable energy

vehicles on site (tent.)

diagnoses by tree

along Kyu-Karuizawa

doctors

Ginza-dori Street

Utilization of trees cut

Reutilization ofUtilization of Asama

Reduction ofdown in furniture insideﬁreplaces in existingstones on site

environmental footprint

Hotelbuilding

in sorting and recyclingof industrial waste

Vegetation plan using indigenous plants out of consideration of the local environment and vegetation.

Acer amoenum

Ilex macropoda

Illicium religiosumRhododendron

Enkianthus campanulatus

Trochodendron aralioides

In addition to having solar panels installed on its roof and using renewable energy to power its common areas,
the Hotel is slated to have charging equipment for electric vehicles installed with the aim of making it anenvironmentally-friendly property. It will inherit the rows of trees with fall foliage that people have long beenfamiliar with along Kyu-Karuizawa Ginza-dori Street. A vegetation plan using indigenous plants will be promotedout of consideration of the local environment and vegetation. Along with the replanting of certain existing trees
in cooperation with tree doctors, development efforts that safeguard the nature of Karuizawa and are in harmony
with nature as much as possible will be promoted, including the utilization of Asama stones that the area isfamous for.

■ Overview of facility
Name: GLAMDAY-STYLE HOTEL & RESORT KYU-KARUIZAWA
Location: 691-1 Aza-Yashiki Higashigawaue, Oaza-Karuizawa, Karuizawa-cho, Kita-Saku-gun, Nagano
Access: 71 min. direct access from Tokyo Station on the Hokuriku Shinkansen Line
Size of Structure: Reinforced concrete construction/1 floor below ground, 3 floors above ground
Site Area: 4149.09 m2
Total Area: 7850.03 m2
Total Number of Rooms: 65
Date of Completion: Mid-July 2025 (tent.)
Date of Opening: Summer 2025 (tent.)
Project Owners (Sellers): Tokyu Land Corporation
The Sankei Building Co., Ltd.
Mitsubishi Estate Residence Co., Ltd.

4

Sales Company: Tokyu Resort Corporation
Design Supervision: Kikakusha Architects & Engineering, Inc.
Design: TKN・Architect
Construction: Kitano Construction Corp.
Operation: K Express (Kato Pleasure Group)
Official Website: https://gs-kyukaruizawa.jp5