A new chapter in Plano’s international business story is unfolding as the city officially welcomes the state’s first Miyako Hybrid Hotel, a luxury Japanese property that blends cultural elegance with sustainable design.
A Boost For Business And Tourism
At its Oct. 27 meeting, the Plano City Council approved a pair of agreements supporting the hotel’s development through annual tax rebates and marketing funds. The move, city leaders say, underscores Plano’s growing reputation as a hub for international business and hospitality.
“Plano is proud to be home to more than 40 Japanese companies, including the North American headquarters of Toyota Motor and NTT DATA,” Director of Economic Development Doug McDonald told Local Profile. “The new Miyako Hotel is a prestigious addition to our community, bringing a distinguished cultural brand with deep roots in Japan and only two other locations in the United States. As the first Miyako Hotel in Texas, it will further strengthen the long-standing business and cultural connections between Plano and Japan.”
Under the approved economic development incentive agreement, the city will refund 50% of the property taxes paid on the building for 10 years beginning Jan. 1, 2028. A separate hotel occupancy tax grant will provide Kintetsu Group Holdings, the hotel’s developer, with $70,000 annually for five years starting in 2028, to bolster tourism and convention activity.
A Landmark In Legacy
Construction is already underway on the $117.5 million project, which will rise within The Park at Legacy, a district anchored by global employers and bustling entertainment venues. Kintetsu Group Holdings, which purchased a portion of the former JCPenney campus in 2019, is developing the 12-story, 217-room boutique hotel…