ADR for Kyoto hotels hits record high in 2024
Hotel occupancy rates in Kyoto may have yet to recover to 2019 levels, but ADRs have reached new highs. The Kyoto City Tourism Association reported an average occupancy rate of 78.5% for the city’s main hotels in 2024, up 5.1 points from 2023 but still 2.8 points below the 2019 average.Read more
REIT acquires two Mimaru hotels
ORIX JREIT is acquiring two serviced-apartment style hotels in Osaka and Kyoto for 7.85 billion Yen (approx. US$50 million). The price per key is 132.5 million Yen (US$840,000) for the Osaka hotel and 68.9 million Yen (US$440,000) for the Kyoto hotel.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
City worries about preservation as heritage-listed imperial residence in Kyoto is sold to developer
Kyoto City was in discussions with the owner of a nationally registered Tangible Cultural Property after learning of plans to sell the 150+ year old historic building and land. A few days later, it was announced that a major developer has acquired the property with future plans for the site yet to be decided.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
Kyoto's kominka matching program connects buyers with 200+ year old homes
Since its formation in April of last year, Kyoto Prefecture’s kominka matching program has already found new residents for nine historic properties. One of those is a 250-year old estate that once belonged to the village headman.Read more
Rihga Royal Hotel Kyoto changes hands in May
Kyoto hotels are back on the radar for major real estate firms and investors, as the historic former capital recovers from the pandemic. Last month, Mori Trust acquired the Rihga Royal Hotel Kyoto from Fortress Investment Group for an undisclosed price.Read more