Japanese luxury hotel firm buys site in Texas
A Japan-based luxury hotel firm has purchased land in Plano for its first Texas hotel.
Kintetsu Enterprises Co. of America, a U.S. subsidiary of a conglomerate that owns Japan’s largest railway, bought the site on Legacy Drive west of the Dallas North Tollway.
The property is part of the Campus at Legacy West, a redevelopment of J.C. Penney’s sprawling corporate headquarters complex.
Kintetsu plans to build one of its Miyako Hotels on the property, according to developers who are redoing the old Penney campus.
The 10-story, 250-room hotel and a parking garage will be built on land surrounding Penney’s 28-year-old offices.