TOKYO -- The famed Imperial Hotel Tokyo announced Thursday a makeover costing up to 250 billion yen ($2.29 billion), aiming to increase its post-pandemic appeal as luxury competitors rush into the Japanese capital.
But with a total budget five times the size of its operator's pre-coronavirus annual revenue, it could prove a risky bet as Japan's hospitality industry continues to reel from the coronavirus.
.jpg?width=178&fit=cover&gravity=faces&dpr=2&quality=medium&source=nar-cms&format=auto&height=100)
_2048x1152.jpg?width=178&fit=cover&gravity=faces&dpr=2&quality=medium&source=nar-cms&format=auto&height=100)