27 Dec 2007

Japanese company makes major investment in CNMI tourism despite fall in visitor numbers

2:14 pm on 27 December 2007

A Japanese company that owns the Hyatt Regency Saipan resort is spending 8.2 million US dollars on new projects for the hotel despite a collapsing tourism market in the CNMI.

The company has spent $1.2 million on a new spa and $7 million for new worker housing.

Hotel President, Hitoshi Nakauchi, told the Saipan Tribune that if it didn't make the investment he was sure things would get worse.

Mr Nakauchi says the investment is necessary to match the expectations of tourists.