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Tobu Railway and Marriott International will be opening The Ritz Carlton Nikko on the shores of Lake Chuzenji in 2020. The two companies entered into an agreement on November 7. Marriott currently operates Ritz Carlton hotels in Tokyo, Osaka, Okinawa, and Kyoto. They are also planning to open one in the ski resort town of Niseko in Hokkaido.

The hotel will be built on the site of the former Nikko Lake Side Hotel. It is a 19,000 square meter block on the eastern side of Lake Chuzenji. The former hotel, which was built in 1968, will be demolished to make way for a new building.

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