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
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
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
Hilton to open flagship-branded hotel in Kyoto
Earlier this month, Hilton announced the signing of an agreement with Tokyo Tatemono to open the first flagship-branded hotel in Kyoto in 2024. The Hilton Kyoto will be located in the Kawaramachi Sanjo district.