Ken Chan, founder and CEO of Patience Capital Group, unveils plans to turn Japan’s Myoko Kogen into a year-round destination

This March, PCG announced the reopening of its tourism investment fund, which closed in October last year after procuring 35 billion yen, to new investors keen to get in on the project. The goal is to raise an additional 25 billion yen by the time it closes again this September. Chan’s reconnaissance of the Myoko Kogen area confirmed its strategic advantages, notably its exceptional accessibility via three bullet train stations and a nearby highway. “Can you imagine one location in all of Japan that is served by three bullet train stations and lies within 20 to 30 minutes of a mountain’s focal point?” Chan asks during our chat at Tatler House.

With five mountains—the highest peaks at 2,454 metres—the locale boasts natural appeal as well, with long ski runs and significant vertical drops that will entice avid skiers. Myoko Suginohara Ski Resort, for example, which PCG bought last year, has a base elevation of 731 metres and a peak altitude of 1,855 metres, “so you get a vertical drop of 1,124 metres,” shares Chan, adding that the resort’s longest ski run “stretches about 8.5 kilometres—making it one of the three longest in Japan”. Average ski runs, he adds, span 3 to 4 kilometres.

Read more:Hitting the slopes: The best ski destinations in Japan

Myoko Kogen is poised, too, to offer a holistic experience beyond the traditional one put forth by ski destinations. The area’s appeal is bolstered by nearby attractions such as Lake Nojiri, which is great for boating, canoeing and stand‑up paddleboarding; the Myoko‑Togakushi Renzan National Park, which is home to Japan’s first Unesco Global Geopark and offers not just recreational options across seasons, but also a dose of culture, thanks to the ancient shrines (such as the Togakushi Shrine) located on the grounds; and the Zenkoji Temple, built in the 7th century and home to what is said to be Japan’s oldest Buddhist statue.

Its geographical location—on the border of the Niigata and Nagano Prefectures, which are rich in natural resources—means that Myoko Kogen can also offer culinary appeal. Niigata is renowned for its rice production, which sustains a flourishing sake industry, and is home to the Tsubame Sanjo area, famous for its high‑quality cutlery. The prefecture also benefits from its position fronting the Japan Sea, whose cold waters are believed to enhance the flavour and quality of its seafood. Meanwhile, Nagano is known for its fresh fruits, dairy products and local wineries.

All in all, “[Myoko Kogen] offers everything”, says Chan. “All we’re trying to do now is package everything together and market it well as a 360‑degree destination.” He aims for the development to be an all-season mountain resort with activities and amenities that appeal to a broad range of visitors, from luxury seekers to the general public looking for unique vacation options. To that end, PCG has already acquired about 350 hectares of land, including two existing ski slopes and two ski resorts. It is now in the process of acquiring more land in the hopes of building housing for employees.

Chan admits that the project, encompassing all the things he has mentioned, will be challenging to execute. The complete development of the area is projected to take a decade, and the first phase includes constructing at least two hotels, set to open by 2028, alongside several dining venues and retail spaces. Since November 2023, more than ten hotel brands have proposed to develop resorts in Myoko, with PCG now reviewing a select few. “We hope to select one to two, possibly three, hotel brands in the coming months to finalise the details,” Chan reveals, anticipating the opening of the first resort by winter 2028.

The fashion and gastronomy sectors have also shown interest in establishing a presence, which Chan knows will only enhance the site’s appeal. “Lots of restaurateurs have reached out to us, from famous New York steakhouses to local Japanese sushi shops,” he says, as has Goldwin, a renowned Japanese outdoor apparel retailer.

In developing their strategy, Chan and his team draw inspiration from established global ski destinations such as British Columbia’s four‑season destination Whistler, home to Whistler Blackcomb, North America’s largest ski resort. “We admire what Whistler has done, along with Courchevel and even Crans‑Montana. We’re a strong believer that while we invest in this whole area, we, as specialists in real estate investment, need to [enhance the area with good] attractions,” he says.

To boost entertainment and culture for visitors of varying demographics at Myoko Kogen, PCG has partnered with lifestyle and entertainment brand management company UC Global to form Patience UC Social Holdings. “UC Global owns rights to major events such as the Ultra Music Festival, so we could, for example, bring an EDM music festival over to the mountains. It also owns rights to wellness festival Wanderlust, which we hope to introduce here as well,” shares Chan.

With the aim of broadening its initiatives, PCG is also working with international education group EtonHouse and Saturday Kids, a tech school for kids. For the second consecutive year, the former will hold summer camps at Madarao Mountain Resort—which PCG acquired in late 2022—in July and August. The latter, meanwhile, held a ski camp in Madarao for the first time this March.

Acknowledging the complexities involved in creating an environment where people can live, work and play for extended periods, Chan shares that he and his team are always actively refining their plans to ensure the development can meet the multifaceted needs identified.

One of their key challenges is maintaining the distinctly Japanese character of Myoko Kogen while still attracting global visitors. To ensure that balance, Chan and his team have invested significant time in engaging with local communities, listening to their concerns, exchanging ideas and reassuring them of the development’s benefits. “It’s a team effort. We communicate and remain accessible to the locals. I spend a lot of time doing talks, meeting people and speaking with the local media—reporters get our full attention so that they can communicate the points correctly to their audiences,” says Chan, who also points out that “it’s our duty to ensure that [our] ideas will improve things for the next generation”.

Chan emphasises cultural sensitivity as a cornerstone of his approach to developing Myoko Kogen, especially in terms of language and services tailored to the community. Recounting his experience at a restaurant in Niseko, he recalls: “When we asked for the menu, they only had English ones, which was quite strange. Even if 90 per cent of the crowd is non‑Japanese, I think it’s only right that we address the [locals] first.” This experience reinforces his commitment to prioritising local needs. “It’s something we’re very conscious of,” Chan says.

“We must preserve Myoko Kogen’s authenticity and avoid making it a place that only attracts foreigners but alienates domestic customers. Our first layer of customers should be our domestic customers. We have to make them happy. When international travellers and tourists come, we’ll cater to them by having world‑class hotels and service standards. English translations will be available, as will bilingual services. They’ll experience the real Japan they’ve been looking for.”

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