Water Church Becomes Chinese-Owned: Chinese Investment Acquires TOMAMU Hoshino Resorts for $4.9 Billion

▲ TOMAMU Hoshino Resort in Hokkaido. (Photo / Provided by Tang Guizhen International Travel Service, same below)

Reported by Chen Ruizhong / Taipei

Shanghai Yuyuan Tourist Mart, backed by China’s Fosun International as its major shareholder, announced today that it will acquire 100% equity of Hokkaido’s TOMAMU Hoshino Resort for approximately 18.3 billion Japanese yen (about NT$4.9 billion). Taiwan’s exclusive agent for TOMAMU Hoshino Resort, Tang Guizhen International Travel Service, stated,that check-in and bookings for Taiwanese travelers will not be affected.

TOMAMU Hoshino Resort in Hokkaido is a well-known resort famous for its golf course, powder snow ski slopes, and mountaintop sea-of-clouds café. Among its attractions, theChurch on the Water, designed by architect Tadao Ando, has become a dream wedding destination for many Taiwanese couples due to its appearance in Fish Leong’s music video for "Admiration." In this acquisition, Fosun International, the ultimate major shareholder behind Shanghai Yuyuan Tourist Mart, has in recent years invested in international brands such as Club Med and Cirque du Soleil, and acquired a 20% stake in Taiwan’s Wei Qua Biscuit Company in 2012. This purchase of TOMAMU Hoshino Resort is also seen by outsiders as an effort to strengthen the market for Chinese tourists traveling overseas for skiing.

▲ The “Church on the Water” designed by Tadao Ando is a famous landmark of TOMAMU Hoshino Resort in Hokkaido.

TOMAMU Hoshino Resort was previously owned by a U.S. investment company holding equity stakes, while Hoshino Resorts managed operations. The entire resort spans about 40 hectares, with four main buildings and 757 guest rooms. Tang Guizhen, CEO of Tang Guizhen International Travel Service,Tang Guizhenexplained that Hoshino Resorts operates around 30 resorts and hotels in total. Aside from those under the Hoshinoya brand, most others are managed under operational contracts.Although the ownership of TOMAMU Hoshino Resort has shifted from American to Chinese investors, the management rights remain with Japan’s Hoshino Resorts, so service quality will not be affected, and Taiwanese travelers can still stay with peace of mind.

However, Tang Guizhen also expressed deep concern, noting that Chinese capital has been aggressively acquiring hotels in Japan and Europe. This includes the iconic Waldorf Astoria in New York, which was bought by China’s Anbang Insurance Group in 2014. This trend serves as a significant warning for Taiwan’s tourism industry players with accommodation needs.