TOKYO -- The Imperial Hotel Tokyo will convert 99 guest rooms into full-service rental apartments, offering meal and laundry options with dedicated staff as vacancy rates remain high from the pandemic.
The third floor of the tower building will be renovated, with rooms available for stays as short as five nights. Reservations are initially being accepted for March 15 through July 15. A roughly 30-sq.-meter room costs 360,000 yen ($3,440) for 30 nights, with a 50-sq.-meter room available for 600,000 yen.
Amid a prolonged slump in occupancy rates, the hotel's corporate parent seeks to develop a new business that takes advantage of its ability to provide services and facilities unique to the industry.
A custom room service menu offers meals for 60,000 yen a month. The laundry service, available at any time, is 30,000 yen a month.
Renters can enjoy such amenities as beverage service in the lounge. Gym and pool access carries no additional fee, nor does parking.
Tapping into the shift toward telecommuting, the hotel operator envisions the rooms providing a secondary workspace for executives and other businesspeople. The rooms would also be available for corporate business continuity plans and as a home away from home for the affluent.
The company reported a net loss of 8.6 billion yen for the nine months ended December, down from the year-earlier 3 billion yen profit. Revenue declined 62% to 16.6 billion yen. Occupancy rates have slumped to around 10% from such factors as the state of emergency declared for Tokyo and elsewhere.
