Ukai completes sale of Hakone glass museum
On August 7, Ukai, the operator of fine-dining restaurants around the greater Tokyo area, announced the sale of the operating rights of the Hakone Venetian Glass Museum to Daikoku Denki Co., Ltd. for 200 million Yen (approx. US$1.35 million). Daikoku had previously acquired the property and art pieces in late 2024.Read more
Japan Air Lines to open auberge-style hotels across Japan
Japan Air Lines (JAL) is launching its own auberge-style hotel brand with properties planned nationwide. The first of these French-style inns and restaurants is being constructed in Furano, Hokkaido.Read more
Development moving forward for Shirokane high-rise condo
A redevelopment committee has been approved for a 1.3-hectare site between Azabujuban and Shirokane-Takanawa Stations in central Tokyo, with plans to build a 45-story apartment building.Read more
Yokohama hotel sold to storage operator
A storage and logistics operator has acquired a 206-room hotel near Shin-Yokohama Station, with the deal taking place on July 30.Read more
Japan’s hotels struggle to keep up with surge in inbound tourism
Japan’s hotel industry continues to hit new strides as inbound tourism reaches new highs, but may be facing a supply crunch. Among the 13 publicly listed hotel operators covering 15 brands, average daily rates (ADR) for the fiscal year ending March 2025 are all up year-on-year, particularly in central Tokyo and regional cities where tourism demand is strong. Occupancy rates have also remained at high levels.Read more
Mitsui to double investment in data centers
Mitsui Fudosan has announced plans to invest an additional 300 billion Yen (US$2 billion) in data center development by 2035, doubling down on its commitment to digital infrastructure in response to growing demand from sectors like generative AI and 5G.Read more
Construction costs hit record high in Okinawa while nationwide starts hits 58-year low
Construction costs in Okinawa reached a record high of 298,900 Yen per square meter in 2024, the highest level since record-keeping began in 2014 and a 12.9% increase from 2023.Read more