PUBLISHER: Renub Research | PRODUCT CODE: 1313778
PUBLISHER: Renub Research | PRODUCT CODE: 1313778
Japan Hotel Market is expected to reach US$ 26.92 Billion by 2028, according to Renub Research. Japan, a remarkable tourist destination, boasts an array of unparalleled experiences that cannot be found elsewhere. Japan's culture mixes Eastern traditions with Western modernism, producing a compelling ambience that pervades all aspects of daily life. Japan is one of the world's oldest cultures, with a rich history extending back to ancient times and a fascinating diversity. This creates an unpredictable demand for hotels industry for tourists.
Looking towards the future, once the COVID-19 pandemic subsides, Japan is poised to regain its position as a top travel destination. It holds the first rank among experienced travelers residing in Asia and the second rank among those living in Europe. After more than two years of isolation, Japan fully lifted pandemic-related travel restrictions in early October, which led to a significant increase in visitor numbers. Japan is encouraged by its government incentives such as 'Go-To-Travel'. The Japan hotel sector is thriving as a result of the flood of tourists from all over the world. Japan's rich culture, stunning scenery, and unique experiences continue to draw travelers, and housing demand is increasing. There are lots of alternatives to suit every taste and budget, from luxurious hotels in bustling cities to quaint inns in gorgeous countryside. Japan Hoteliers are constantly innovating to provide superior services and amenities to ensure a memorable stay for guests. The prosperity of this industry not only promotes tourism but also contributes to the economy as a whole, making Japan an even more attractive tourist destination. As a result, Japan Hotel Market was valued at US$ 12.72 Billion in 2022.
The Japan hotel market has expanded significantly, not just in large cities like Tokyo, but also in villages and small towns. As a consequence, the hotel industry felt less obligated to actively pursue customers. Domestic visitors, on the other hand, have emerged as a much-needed source of relief for Japan's beleaguered hotel business. The tenacity and interest in the Japanese hotel sector have continually piqued the curiosity of business owners, the global hospitality industry, and entrepreneurs alike.
In March 2023, private equity firm KKR and Hong Kong-based Gaw Capital Partners struck a deal to buy the Hyatt Regency Tokyo from Odakyu Electric Railway Company, Ltd. The luxurious hotel will be purchased for an undisclosed fee in Tokyo's downtown Shinjuku special district. Odakyu Electric Railway Company, Ltd. forecasts a profit of JPY 50 billion (about US $380 million) as a consequence of this deal. The 746-room Hyatt Regency Tokyo is ideally placed near Shinjuku Central Park and the Tokyo Metropolitan Government office. It was initially built in 1980.
The Japan hotel market is divided into three categories: high-end hotels, mid-scale hotels, and budget hotels. One of Japan's most appealing features is its diversity and gorgeous scenery. Visitors come from all over the world to see Japan's numerous attractions, which range from towering mountains to breathtaking views. The Japanese people place a high importance on their natural environment, which makes them even more desirable to visitors. Mid-range hotels have grown in popularity as travellers seek pleasant and economical lodging. These hotels provide pleasant rooms, handy facilities, and attentive service at affordable costs, striking a balance between cost and quality. These mid-range hotels, which thrive not just in major cities but also in lesser-known areas, provide for cost-effective exploration of Japan. This expansion illustrates the industry's dedication to addressing changing visitor needs and providing accessible and pleasurable travel experiences for everyone.
The growing luxury hotel sector in Japan combines beauty with Japanese hospitality, providing an enthralling combination of modern luxury and traditional characteristics. These magnificent hotels offer selective guests outstanding service, sumptuous facilities, and breathtaking design, resulting in immersive experiences. These luxury hotels provide doorways to unique experiences, from Tokyo's lively metropolis to Kyoto's serene environs.
The Japanese hotel sector provides both offline and online ordering channels, allowing guests to discover, compare, and book hotel rooms from the comfort of their own homes. This change has simplified the booking process and given clients more alternatives. Hotels in Japan have embraced digital transformation to attract tech-savvy guests, establishing user-friendly websites and smartphone applications. The online ordering trend has increased the Japanese hotel sector's transparency, competition, and accessibility, allowing travelers to make educated selections and choose the best lodging for their requirements.
Marriott International, Inc., Tokyu Corporation, Park Hyatt Tokyo, Intercontinental Hotels Groups, Kintetsu Group Holdings Co. Ltd., and Hoshino Resorts REIT Inc. are important participants in Japan's hotel business, with a varied variety of exquisite and well-known hotel brands.
Bulgari Hotels & Resorts announced the opening of the Bulgari Hotel Tokyo at 2-2-1 Yaesu, Chuo-ku, in April 2023. This will be the eighth jewel in the portfolio of Bulgari Hotels & Resorts, bringing the legendary Italian contemporary flare and charm to Japan's vibrant city.
Renub Research report titled "Japan Hotel Market, Volume & Forecast by Type (High End, Mid-Scale, Budget) Ordering Platform (Offline, Online), Region (Tokyo, Kyoto, Osaka, Sapporo, Fukuaka, Nagaya, Hiroshima, Naha and Sendai), Hotel/Companies (Marriott International, Inc., Tokyu Corporation, Park Hyatt Tokyo, Intercontinental Hotels Groups, Kintetsu Group Holdings Co. Ltd., and Hoshino Resorts REIT Inc.)" provides a complete analysis of Japanese Hotel Market." provides a complete analysis of Japan Hotel Market.