Why Hoshino Resorts?
Mr. Morikawa: I never wanted Asuka Village to become just another typical tourist destination or resort area. Naturally, preventing excessive overtourism was also a major concern for me. When I first met with the representatives from Hoshino Resorts back in 2015, I didn't get the impression that they were a company that simply wanted to build a hotel and develop the area for short-term gain. Rather, I felt a deep, genuine desire from them to immerse themselves into the very fabric of Asuka Village, creating an accommodation where guests would want to linger, relax, and return time and time again. I knew they would collaborate with us to envision the future of our community. Realizing that Hoshino Resorts was uniquely equipped to navigate the strict regulations of the Asuka Law*, we initiated this partnership from our side.
Mr. Morikawa: With our sights set on the future designation as a UNESCO World Cultural Heritage site, we must carefully consider how to manage and operate our region. Because Asuka Village is subject to rigorous legal regulations, there are numerous challenges that the local government and the developer (Hoshino Resorts) must overcome together. Therefore, we first entered into a "Partnership Agreement Regarding Corporate Location". As a second phase, we advanced to a Comprehensive Liaison Agreement to promote sustainable collaboration. The third phase will focus on the specific operational details of Hoshino Resorts. I sincerely hope their operations will enrich the minds and lives of our village residents.
Mr. Watanabe: Has the third agreement been finalized yet?
Mr. Morikawa: We are currently making adjustments. We hope to conclude the agreement about a year prior to the grand opening, by which time the specific post-opening operational details should be fully solidified.
*The Asuka Law: Officially known as the "Special Measures Law for the Preservation of Historical Features and the Improvement of the Living Environment in Asuka Village." Strict architectural and development regulations are imposed throughout the entire village, requiring community development that protects the historical landscape.