Okinawa hotel sells for 64 million Yen per key
KDX Realty Investment Corporation is acquiring the trust beneficiary rights to the 340-room Okinawa Prince Hotel Ocean View Ginowan for 22 billion Yen (approx. US$150 million). The sale contract was signed on January 15 with the acquisition to be completed on February 1. The seller was a related party to Kenedix.Read more
Our Japan Property Market Report for 2023
In 2023, Japan's property market continued to see high demand thanks to some of the lowest interest rates in the world, a cheap Yen, and an improving corporate environment. We ended the year with domestic and foreign clients looking to spend an accumulated total of up to 120 billion Yen on real estate acquisitions in Japan.Read more
Asakusa hotel on leasehold land sells at 65 million Yen per key
Despite being on leasehold land, this recently-built hotel in Asakusa sold last week for 65.5 million Yen per key (approx. US$460,000). The Nomura Real Estate Master Fund entered into an agreement to acquire the Mimaru Suites Tokyo Asakusa hotel on December 14 for 2.36 billion Yen (US$16.57 million) with delivery to take place in April 2024.Read more
Mandarin Oriental opening three boutique hotels in Setouchi
Japan’s island-filled Setouchi region will be home to three boutique Mandarin Oriental hotels between 2027 and 2030. Currently, the sole Mandarin Oriental hotel in Japan is located in Tokyo.Read more
Niseko hotel tax to max out at 2,000 Yen
On November 8, Niseko Town announced plans to introduce an incremental hotel tax that will be amongst some of the most expensive in Japan. The incremental tax will range from 200 ~ 2,000 Yen per person, per night and could be introduced as early as November 2024.Read more
Luxury hotel for Tottori Sand Dunes
In 2026, Marriott International will open a The Luxury Collection-branded hotel near the Tottori Sand Dunes alongside the Sea of Japan.Read more
Japan’s skyrocketing hotel prices
A quickly recovering inbound tourism industry coupled with a labor shortage has caused hotel rates in some areas in Japan to far exceed pre-pandemic pricing.Read more