Hong Kong-headquartered PAG has bought Japan’s famously wacky theme park for 100 billion yen ($720 million) as the country relaxes strict pandemic restrictions. Huis Ten Bosch, which began 30 years ago with models of landmarks from the Netherlands, hasn’t made an operating profit since the pandemic decimated visitors to its vast 376-acre site.
Visitors enjoy an attraction, amid the coronavirus disease outbreak, at Toshimaen amusement park which will close 94 years after it first opened with part of the site to be turned into a new Harry Potter theme park in 2023, in Tokyo, Japan August 9, 2020. Picture taken August 9, 2020. REUTERS/Issei KatoJapan’s famously wacky theme park for 100 billion yen as the country relaxes strict pandemic restrictions.
The buyout firm headed by Weijian Shan has experience in the sector via a previous stake in Universal Studios Japan, which it exited in 2017. The timing is auspicious. Last week Tokyo dropped testing demands for inbound travelers, requiring only that they’ve had three vaccinations, and is starting to relax local policies too. The latter is more relevant because HTB’s market is largely domestic.
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