Hyatt Hotels Corp. has partnered with Japanese asset redevelopment group Kiraku to launch Atona, a new hospitality brand focused on creating "a modernized hot spring ryokan experience."
Ryokans are traditional Japanese inns with communal baths.
Under the partnership, Hyatt and Kiraku will each own 50% of the joint venture.
Atona's hot spring ryokans will be located throughout Japan and targeted toward global travelers. Although the onsen (hot spring) experience will be the concept's central component, Atona properties will also aim to showcase regional architecture, design, cuisine and activities.
The first Atona-branded ryokans are expected to debut starting in 2025.
In a statement, Sam Sakamura, Hyatt's vice president Japan and Micronesia, said that the joint venture will help make ryokans more "accessible to inbound travelers, many of whom have never experienced staying in a ryokan before."