Luxury Hotel "Aso Retreat HONO by Onko Chishin" with Majestic Views of Minami-Aso to Open on November 2, 2026

List Development Co., Ltd. (President and CEO: Hiroyuki Kiuchi, Head Office: Yokohama, Kanagawa Prefecture), a consolidated subsidiary of List Co., Ltd. (President and CEO: Hisashi Kitami, Head Office: Yokohama, Kanagawa Prefecture), will open the luxury hotel "Aso Retreat HONO by Onko Chishin" (hereinafter referred to as "this property") on November 2, 2026, after fully renovating the existing ryokan acquired in Minami-Aso Village, Kumamoto Prefecture in August 2024 and constructing a new building. Prior to this, accommodation reservations will begin on July 1, 2026. This ryokan revitalization project is the first of its kind for the List Group, with completion scheduled for August 2026. Onko Chishin Co., Ltd. will be responsible for the operation of this property.

Guest room completion rendering image *The CG completion rendering image is based on design drawings at the planning stage, and its shape, color, etc., may differ from the actual product. Details of shapes, equipment, piping, etc., have been omitted or simplified for representation.

List Development Co., Ltd. (LD) operates under the corporate statement "From here, we deliver 'the real thing' the world can be proud of," and is involved in the development of hotel condominiums and luxury residences. In December 2024, LD opened its first hotel condominium, "La Vigne Hakuba by Onko Chishin" (hereinafter referred to as "LV Hakuba"), in Hakuba Village, Kitaazumi District, Nagano Prefecture. Leveraging the company's expertise in high-end real estate development cultivated through projects like LV Hakuba, this property aims to refresh its room configurations and spatial value by fully renovating the existing building while preserving its structural integrity, and by constructing a new building. It maximizes the rare location on the mid-slope of the Aso Caldera, creating a stay experience where architecture and scenery become one.

Furthermore, this property aims to maximize stay value by utilizing local resources and promotes development in harmony with the region in collaboration with local businesses. LD will continue to contribute to the revitalization of the regional economy and tourism industry through real estate development that leverages unique regional attractions.

【Key Features】

Renovation and Expansion of Existing Building to Revitalize the Structure

This property is located within the Aso-Kuju National Park, where the conservation of the natural environment and harmony with the regional landscape are emphasized. Taking these regional characteristics into account, LD renovated and revitalized the existing building's structural frame instead of completely demolishing and rebuilding it. This approach aims to balance environmental load reduction with the inheritance of the building's value.

In addition to revitalizing the existing building, a new building will be added to improve the overall functionality of the facility and increase the number of rooms. Previously, the facility had 10 rooms (5 with open-air baths) and a large public bath. With this new plan, the large public bath will be converted into guest rooms, resulting in a total of 17 rooms: 12 in the existing building and 5 in the new building. Furthermore, all guest rooms will feature open-air/semi-open-air hot springs, and 12 rooms will be equipped with saunas, aiming to provide a more comfortable and high-quality accommodation experience.

Spatial Experience with High Ceilings and Large Openings, and Architectural Design Incorporating Aso's Scenery

While the existing building is single-story, it boasts high ceilings. Leveraging this characteristic, an open space with a ceiling height of approximately 3,700mm (coffered ceiling) and opening window sashes of approximately 3,200mm has been realized. In the new building, in addition to guest rooms with a ceiling height of approximately 3,000mm, some rooms will feature large open spaces with a maximum atrium height of approximately 7,280mm, creating a dynamic sense of scale different from the existing building. Some guest rooms will have a 2,700mm wide deck where guests can feel the majestic nature up close. Located on the mid-slope of the Aso Caldera, this property offers views of the Minami-Aso plains and the Aso Five Peaks. The building's placement and opening design integrate this magnificent scenery with the in-room hot springs.

Guest room image Guest room image

Experiential Design Integrating Food and Landscape

In addition to architecture, this property aims to further enhance its stay value by integrating food and landscape planning. The on-site restaurant will feature a wood-fired oven, offering a live cooking experience centered around wood-fired cuisine. Additionally, an "edible garden" composed of native Aso plant species will be established on the premises. Guests can enter the garden, interact with the plants, and experience the cycle of earth and food as the harvested ingredients are directly used in their meals.

Restaurant image

High-Quality Stay Experience Realized Through Operation by Onko Chishin

Onko Chishin, which plans and operates accommodation facilities that become travel destinations nationwide, will manage this property. Leveraging the company's expertise in operating facilities that highlight regional charm, they will provide a high-quality and comfortable stay experience that allows guests to feel the unique nature and culture of Aso.

About Onko Chishin Co., Ltd.

They develop unique facilities, including multiple Michelin-starred hotels, stadium-integrated hotels, champagne hotels, museum-affiliated restaurants, and roadside station restaurants.

Under the philosophy of "A small evangelist of regional light," they shape the unique charm of each location and produce accommodations that become travel destinations.

Official Website: https://by-onko-chishin.com/

【Property Overview】

Name

Aso Retreat HONO by Onko Chishin

Location

5298-1 Kawai, Minami-Aso Village, Aso District, Kumamoto Prefecture

Access

25 minutes by car from Kumamoto Airport

Site Area

87,113.06m2 (26,357.75 tsubo)

Scale and Structure

Existing Building: Steel frame, single-story; New Building: Steel frame, two-story

Number of Rooms

17 rooms (all with open-air/semi-open-air hot spring baths, some rooms with saunas)

Room Area

54.00m2~148.64m2

Scheduled Completion

End of August 2026

Scheduled Opening

November 2, 2026

Facilities

Restaurant, edible garden, in-room spa

Operating Company

Onko Chishin Co., Ltd.

Developer

List Development Co., Ltd.

Official Website

https://aso.by-onko-chishin.com/

【List Development Co., Ltd.】

Location: 4-47 Onoecho, Naka Ward, Yokohama, Kanagawa Prefecture

Representative: Hiroyuki Kiuchi, President and CEO

Established: May 10, 1991

Business Overview: Planning, development, and sales of condominiums, office buildings, hotels, and resorts;

Brokerage of income-generating real estate and consulting on asset management;

Property management services for real estate

URL: https://listdevelopment.jp/

【List Co., Ltd.】

Location: 3-35 Onoecho, Naka Ward, Yokohama, Kanagawa Prefecture, LIST EAST BLD.

Representative: Hisashi Kitami, President and CEO

Founded: May 10, 1991

Established: May 20, 2016

Consolidated Sales: 59.7 billion yen (Fiscal Year Ending December 2025)

Business Overview: Holding company, group management business

URL: http://www.list.co.jp/

In 1991, List Co., Ltd. was established as a real estate brokerage company. Since then, we have consistently engaged in real estate-related businesses, including the development and sales of detached houses and condominiums, asset management, and redevelopment projects. In 2016, we reorganized our group companies and transitioned to a holding company system, moving to a management structure as the "List Group" with our company at its core.

In 2010, List International Realty Co., Ltd. acquired the exclusive domestic operating rights for "Sotheby's International Realty®," a real estate brokerage brand originating from one of the world's largest auction houses, "Sotheby's." Under the brand "List Sotheby's International Realty," we have been engaged in real estate brokerage and development businesses in Singapore, Hong Kong, and Thailand, starting with Hawaii, USA. Through these businesses, the List Group continues to provide "valuable real estate" to our customers.