Niseko ramping up for record-breaking ski season
This ski season, hotel bookings in Niseko and Kutchan are expected to surpass last year’s record as inbound tourism continues its post-pandemic recovery.Read more
REIT sells 302-room Osaka hotel for 7.75 billion Yen
Ichigo Hotel REIT has sold a 302-room hotel in Osaka to an unnamed buyer for 7.75 billion Yen (US$50 million), 2% more than the REIT paid for it eight years ago. The sale price works out to be around 25.66 million Yen per key.Read more
University acquires Hilltop Hotel
Meiji University has acquired the historic Yamanoue Hotel (Hilltop Hotel) adjoining its campus in central Tokyo. The university announced the acquisition on November 15.Read more
Kyoto hotel revenues increase while domestic guest numbers decline
According to the Kyoto City Tourism Association, the average operating ratio across the 109 hotels surveyed was 76.7% in September. This was a 1 point increase from last year but is 6.2 points below the level seen in 2019. The operating ratio for ryokan-style hotels was 70.7%, up 9.6 points from 2019.Read more
Luxury hot spring hotel to open on 13.5ha site in Hakone
Mitsui Fudosan and Mitsui Fudosan Resort Management are opening a luxury hot spring hotel on a 13.5 hectare site in Hakone in 2026. Hotel The Mitsui Hakone will follow the 2020 opening of Hotel The Mitsui Kyoto. This is Mitsui’s upper-end hotel brand. It will operate in a tie-up with Marriott’s The Luxury Collection, to appeal to inbound travelers.Read more
Hakuba’s hotel shortage may hinder tourism potential
The rise in inbound tourism is outpacing Hakuba’s supply of hotels, leading to a shortage of beds this ski season. Hotels opened up their winter reservations a month earlier this year and were quickly inundated with bookings from international guests. Many of the village’s hotels are now fully booked for this upcoming season.Read more
Nagoya hotel sells for 6.5 billion Yen
The Japan Prime Realty Investment Corporation J-REIT is acquiring a 153-room hotel on the eastern side of Nagoya Station. The acquisition price is 6.5 billion Yen (approx. US$44 million), which is around 42.5 million Yen per key. The cap rate is 4%, although it is leased to the operator under a fixed + variable rental agreement.Read more