Asian ultraluxury resort brands make inroads in Japan

Soneva, Kanolly and Rosewood eye wealthy tourists as weak yen spurs development

Singapore-based Kanolly Hotels has a resort in Hakuba, Japan, that features private villas starting at 200,000 yen per night. (Kanolly Hotels)

KENYA AKAMA and KAZUKI YAMAGUCHI, Nikkei staff writers

October 29, 2023 09:34 JST

BANGKOK/TOKYO -- Asian ultraluxury resort companies are expanding into Japan to tap demand from wealthy overseas travelers and take advantage of the weak yen.

Singapore-based Soneva Holdings plans to open resorts in Japan as early as 2027, Chief Financial Officer Bruce Bromley said in an interview. The company has already signed a contract to purchase a remote island in Okinawa prefecture and plans to acquire land in Myoko, Niigata prefecture, in central Japan.