DUBLIN, May 28, 2021 / PRNewswire / – The “Japanese Hotel Market, Volume and Forecast by Type, Ordering Platform (Offline, Online), Incoming Tourists, Region, Company Analysis” report was added to ResearchAndMarkets.com offer.
The Japanese hotel market is expected to reach 23.49 billion US dollars by 2026, from US $ 1.76 billion in 2020
The year 2020 has been a very devastating year across the world for the tourism industry due to the COVID-19 pandemic. Overall, the borders were sealed and remained effectively closed to foreign tourists.
But, the second half of 2021 should bring some hope to the hospitality industry and that brings hope for Japan also. Our research reveals that there has been a considerable movement of domestic tourists into Japan. These domestic tourists have brought much needed relief to the bleeding hospitality industry of Japan. We also believe that Japan The hospitality market will reach its pre-COVID level by the end of 2022.
According to the analyst’s point of view, business owners, international hotel operators and investors have maintained their interest in the Japanese hotel market. They see this slowdown as an opportunity to buy distressed assets. Although most business owners, hoteliers currently prefer the fixed rent lease.
Prior to 2020, the tourism industry was on the rise in Japan before the pandemic. According to our study, there will be growth opportunities in the tourism industry during the forecast period. To support this growth, the large hotel chains are expanding their presence across the country. According to this report, the post-COVID-19 recovery, the Japanese hotel market will grow with a massive CAGR of 54.01% during the period 2020-2026.
Japan has numerous hotel establishments spread across the country, with the mid-range hotel segment dominating the country. Domestic tourists constitute its main clientele due to the quality services offered by most of the hotels in the mid-range hotel segment, and the efficient use of the available space has become the main reason for the rapid growth of this segment. According to our research results,
In Japan, the online hotel market targets a variety of consumer groups with different behaviors with an offer that meets their needs and their budget. With the advancement of technology, the online hotel market is increasing at a rapid rate. On the other hand, COVID-19 has accelerated the digitization of the travel agent model; creating more store closures as in-store agencies switch their operations online, causing the nation’s offline hotel reservation market to fall.
Japan is expected to experience robust growth in inbound tourism over time. This growth is expected to maintain momentum and fuel a strong performance in the hospitality industry over the coming year, combating global economic uncertainty. Tourism growth in Ossaka was particularly noteworthy.
Tokyo leads the country’s major cities, recording the highest number of hotel rooms in Japan hotel market, with around a million tourists visiting the city. Ossaka and Kyto have seen an increase in the number of arrivals from year to year, constituting the second and third highest number of hotel rooms by city in the country, respectively.
Local hotel companies predominantly dominate the hotel industry in Japan. National brands and their chains cover 90% of the country’s total market.
The key players in Japan The hotel market studied in the report is Marriott International, Inc Tokyo Corporation, JR Hotel Group, Kintetsu Group Holdings Co., Ltd. and Hoshino Resorts REIT Inc.
Scope of the report
Japan Hotel Market has been covered from 5 points of view:
3. ADR (average daily rent per night)
4. REVPAR (Per room by night)
5. Occupancy rate
Region – All Top 9 cities have been covered from the 5 viewpoints mentioned above
Hotel type – Japan Hotel Volume & Market were covered from 3 points of view:
1. Upscale hotel
2. Mid-range hotel
3. Budget hotel
Ordering platform – Japan Hotel Market were covered from 2 points of view:
1. Online hotel reservation
2. Offline hotel reservation
Analysis of overnight spending – Japanese hotel market were covered from 2 points of view:
1. Total overnight stay
2. Length of stay – Overall, business, tourism and leisure
The market and incoming visitors to Japan were covered from 2 perspectives:
1. Foreign tourists
2. National tourists
Objective – Tourism market and volume in Japan
- Tourism & Leisure
All companies were covered from 3 points of view:
- Recent developments
1. Marriott International, Inc
2. The Tokyo company
3. Junior hotel group
4. Kintetsu Group Holdings Co., Ltd.
5. Hoshino Resorts REIT Inc.
Main topics covered:
2. Research and methodology
3. Executive summary
4. Market dynamics
5. Japanese hotel market
6. Market and volume share – Japanese hotel market
7. Hotel type – Volume and market of hotels in Japan
8. Ordering platform – Japanese hotel market
9. Region – Japanese hotel market
10. Ranking of hotels in Japan
11. Analysis of night-time spending
12. Japan inbound tourism market
13. Objective – Tourism market and volume in Japan
14. Tourism expenditure by international visitors in Japan by country (2019)
15. Business analysis
For more information on this report, visit https://www.researchandmarkets.com/r/xdzfxm
Research and markets
Laura Wood, senior
For EST office hours, call + 1-917-300-0470
For USA / CAN call toll free + 1-800-526-8630
For GMT office hours, call + 353-1-416-8900
US Fax: 646-607-1907
Fax (outside the United States): + 353-1-481-1716
SOURCE Research and Markets