— Latest update: April 2022 —
In 2020, number of foreign travelers visiting Japan has been dropped by 87.1% to 4.11 million compared with the previous year due to the impact of worldwide spread COVID-19 pandemic. However, the second half of 2021 is expected to bring a little hope to the hospitality business in Japan. Research finds that there has been a considerable movement of domestic tourists in Japan. These domestic tourists have provided much-needed relief to the bleeding hotel industry of Japan.
According to Research and Markets’ analysts’ viewpoint, the business owners, international hotel operators, investors have maintained an interest in the Japanese hotel market. They see this downturn as an opportunity to buy up distressed assets. Though most business owners, hoteliers currently prefer fixed rent lease.
JNTO, Foreign Visitors’ Trends, 2022
Research and Market, Japan Hotel Market Report, 2021
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