Several bumper years of growth for Japan’s hotel and tourism industry were brought to a swift end this year as foreign tourists were locked out by international travel bans. Domestic tourism also remains sluggish despite some efforts by the government to subsidize travelers.
762 total views, 56 views today
Tokyu Land has withdrawn plans for the development of a membership-hotel on city-owned land in the hot spring resort city of Atami, citing concerns over viability amidst the ongoing pandemic.
800 total views
Prices of investment-grade condos on the rise, time-share offices as an alternative to co-working spaces, Okinawa hotels hit with cancellations following State of Emergency declaration, and Suruga Bank sees more share house loan cancellation requests. Below is a quick weekly summary of some of the recent goings-on in the Japanese real estate market.
789 total views
Luxury Thai hotelier Dusit Thani has cited fundraising issues and uncertainty over inbound tourism as the reasons for the delay in the construction of a high-rise hotel planned for Utsunomiya City. Construction has been postponed until further notice while the developer looks for other hotel operators.
1,210 total views
Hotel bankruptcies on the rise, office conversions to become a trend, and a planned hike in fire insurance premiums for homeowners. Below is a quick weekly summary of some of the recent goings-on in the Japanese real estate market.
1,240 total views
The 113-year old Chitoseya Ryokan in Sendai City closed its doors on May 31. It was originally scheduled to close in 2021 as the current operators, now in their 70s, have no successor. But, the recent decimation of the tourism industry caused by the coronavirus pandemic hastened the closure.
1,130 total views, 2 views today
The number of registered ‘minpaku’ short-term accommodation providers has dropped for the first time since the new system was introduced in June 2018. According to the Japan Tourism Agency there were a total of 21,176 registered properties across Japan as of May 11, down from 21,385 just one month earlier.
1,438 total views
On May 21, hotel developer and operator APA Group held the ground-breaking ceremony for a 1,001-room hotel and 212-unit condo development in Niigata City. This will be the largest mixed-use hotel and residential development in East Japan.
1,098 total views, 2 views today
The latest coronavirus-related closure in Japan’s hotel industry is the heritage-listed Kappo Ryokan Tamagawa in Funabashi, Chiba. On May 19, the operator announced that the ryokan had closed permanently at the end of April. No time will be wasted, with demolition of the 92-year old ryokan to start as early as June.
1,484 total views
On April 10, hotelier APA Hotels & Resorts announced that the APA Hotel & Resort Yokohama Bay Tower will be leased out to Kanagawa Prefecture provide beds for coronavirus patients with light or no symptoms. The 37-story hotel is located on the Yokohama waterfront. With 2,311 rooms, it is the largest hotel in Japan based on room count.
1,763 total views
