Hoshi Takashi (星堯) incorporated Yugen-gaisha Kinukawa-kan Honten (有限会社きぬ川館本店) on 31 December 1942, on the Kinugawa River gorge in what is now Nikko City. The hotel grew to nine storeys, 70 guest rooms, one restaurant, and the Kappa-buro (かっぱ風呂) hot-spring bath on the river. In June 1999 the company filed for bankruptcy with debts of approximately 30億円, the first hotel at Kinugawa Onsen to fail in the post-bubble era.
The building cut into the wall of the Kinugawa River gorge, nine storeys with rooms configured for river views. The Kappa-buro started as an open-air pool on the river and was moved indoors during the hotel's operating life. Faded exterior signage on the upper floors is still legible from the opposite bank.
At its 1993 peak Kinugawa Onsen and Kawaji Onsen took 3.41 million overnight guests between them, with Kinugawa alone exceeding 3 million. Kinugawa Kan's June 1999 filing came four years before the 2003 Ashikaga Bank nationalisation triggered the wider wave of resort closures. By 2021 the combined overnight count had fallen below one million.
The Second Annex (第二別館), rebranded as Hotel Quatre Saisons and later converted to a condominium, is the only Kinukawa-kan building still in active use. Nikko City boarded up the main building's openings in March 2022 after a December 2021 inspection. Demolition would cost around 600 million yen, and the site sits over active hot-spring sources between the Kinugawa River and the national highway; the City's joint research project with Utsunomiya University has moved from working out how to take it down to working out how to keep people out.
ja.Wikipedia (きぬ川館本店), att.JAPAN and tochipro.net