Sparx Group To Start Japan Hotel Fund

Sparx Group Co.is setting up a fund that will invest in building hotels in Japan’s earthquake-devastated regions,Bloombergreports. As part of the plan, the second biggest Asian hedge fund has tied up with Tokyo-based property firmKachikaihatsu Co., operator ofBest Westernhotels in Japan.

The property company will help Sparx build its first project in Natori in the Miyagi prefecture. Sparx has raised $14 million for the project, which is seeking to offer lodging for relief workers and volunteers following the March 11 disaster.

Click here for the story fromBloomberg.