Polaris Holdings (TYO:3010) said its subsidiaries Koko Hotels and Fino Hotels signed new lease agreements with Star Asia Investment Corp (TYO:3468) for two properties in Nagoya and Sendai, according to a Thursday filing on the Tokyo Stock Exchange.

The new agreements, which replace prior third-party leases, extend through 2040 and are structured with fixed and variable rents tied to hotel profitability.

Polaris will now operate 17 hotels with 3,265 rooms under the Star Asia platform, up from 15 hotels with 2,891 rooms.