Japan 'love hotels' owner seeks £50m for growth

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The AIM-listed group wants to buy up scores of rival "love hotels" in Japan as it seeks to consolidate a sprawling industry.

At the moment JPLH has only six hotels, which are typically used by young lovers looking to escape the parental home and find privacy.

Stephen Mansfield of JPLH says: "This is a multi-billion-pound industry with no single dominant player. There is a significant opportunity in the market for JPLH to become the catalyst for consolidation."

JPLH said today it took in just over £1 million of that in the year to the end of December - its first 12 months in business. It is talking to investors about a rights issue to fund its expansion plans.

The company says the strife in the Japanese property market offers good opportunities to pick up hotels cheaply.

Rooms are typically rented for six hours at a time. By some estimates, the sector has a turnover of £31 billion a year.