DUBLIN, Oct. 18, 2023 /PRNewswire/ — Japan’s hotel industry is booming, and there’s no better time for entrepreneurs and business managers to gain insight into this thriving sector. With the recent resurgence of foreign tourists and significant investments pouring into the Japanese hotel market, staying informed is crucial. The “Japan Hotel Market, Size, Forecast 2023-2028” report has been added to ResearchAndMarkets.com’s offering, which is designed to be an indispensable tool for anyone seeking success in this exciting industry.
In the Headlines: A Thriving Japanese Hotel Market
Japan’s real estate companies are ramping up their investments in hotels as foreign tourists return to the country with a vengeance. Nittetsu Kowa Real Estate is entering the business and will invest 40-50 billion yen (around $270 million to $330 million) in hotels over five years. NTT Urban Development will increase the number of hotel rooms it supplies in the next three years by 50% over pre-pandemic levels. As the first phase, Nittetsu Kowa Real Estate will open a 145-room hotel in Tokyo’s Ueno neighborhood in March 2024 under the “&Here” brand.
Unlock the Potential of Japan’s Hotel Industry
The comprehensive research report, “Japan Hotel Market, Size, Forecast 2023-2028” provides an in-depth analysis of the Japanese hotel market’s present and future. With the pandemic subsiding and travel restrictions lifted, Japan is once again becoming a top travel destination, attracting visitors from all corners of the globe.
Japan’s rich culture, stunning scenery, and unique experiences continue to draw travelers, leading to a surge in housing demand. The hotel sector in Japan is thriving, contributing not only to tourism but also to the overall economy. In 2022, the Japan Hotel Market was valued at US$ 12.72 Billion, and it is expected to grow at a CAGR of 13.30% between 2022 and 2028.
A Diverse and Growing Market
The Japan hotel market is divided into three categories: high-end hotels, mid-scale hotels, and budget hotels. The mid-range hotel industry is booming, providing travelers with pleasant and economical lodging options. These hotels offer a balance between cost and quality, making them ideal for cost-effective exploration of Japan.
For those seeking luxury and immersive experiences, Japan’s growing luxury hotel sector combines modern luxury with traditional characteristics. These magnificent hotels offer outstanding service, sumptuous facilities, and breathtaking design, making them perfect for discerning travelers.
Embracing the Digital Age
The Japanese hotel sector has embraced the digital transformation, offering both offline and online ordering channels. Guests can now discover, compare, and book hotel rooms from the comfort of their homes, thanks to user-friendly websites and smartphone applications. This shift has increased transparency, competition, and accessibility in the Japanese hotel industry, enabling travelers to make informed choices.
Key Players in the Industry
The research report delves into the key players in Japan’s hotel business, including Marriott International, Inc., Tokyu Corporation, Park Hyatt Tokyo, Intercontinental Hotels Groups, Kintetsu Group Holdings Co. Ltd., and Hoshino Resorts REIT Inc. These industry leaders offer a wide range of exquisite and well-known hotel brands, contributing significantly to the sector’s growth.
Bulgari Hotels & Resorts: A New Jewel in Tokyo
As a testament to Japan’s growing appeal, Bulgari Hotels & Resorts announced the opening of the Bulgari Hotel Tokyo in April 2023. This luxurious addition brings Italian contemporary flair and charm to the vibrant city of Tokyo.
The research report, “Japan Hotel Market, Size, Forecast 2023-2028,” is your gateway to success in the Japanese hotel market. Whether you’re an entrepreneur looking to invest, a business manager seeking growth opportunities, or a hospitality enthusiast eager to explore Japan’s evolving hotel landscape, this report is your essential companion.
For more information about this report visit https://www.researchandmarkets.com/r/5t0lkq
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Originally published at https://www.prnewswire.com/news-releases/top-global-brands-bet-big-on-japan-bulgari-and-more-open-doors-in-tokyo-301960431.html
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