ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronEye IconIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailMenu BurgerPositive ArrowIcon PrintIcon SearchSite TitleTitle ChevronIcon Twitter
Economy

Tokyo hotel occupancy rates sink below 80%

Guests dispersing as new hotels, home-sharing services emerge

Rivals are emerging for such leading hotels as Hotel Okura Tokyo.

TOKYO -- Hotel occupancy rates of leading hotels in Tokyo are sliding despite high inbound tourist numbers, owing to the rapid rise of competitors such as new hotels and home-sharing services. 

The average occupancy rate of 18 major hotels in Tokyo fell on the year for the second straight month in June, dropping 1.9 percentage points to 78.9%, according to data compiled by The Nikkei. Ten of the hotels logged declines. Still, there were 10 that exceeded the 80% threshold of close to full occupancy.

Hotel Okura Tokyo's occupancy rate fell 1.3 percentage points to 80.7%. Room rates averaged at about 23,300 yen ($214), down 1,000 yen. The hotel said that it maintained the rate above 80% by lowering prices for online and travel agency bookings.

Keio Plaza Hotel saw its occupancy rate drop 4.2 points to 75.9%, while Shinagawa Prince Hotel's fell 3.7 points to 84.1%. Royal Park Hotel struggled to offset falling group guest demand with individuals and recorded a 1.4 point decline to 77.7% in its occupancy rate.

(Nikkei)

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this monthThis is your last free article this month

Stay ahead with our exclusives on Asia;
the most dynamic market in the world.

Stay ahead with our exclusives on Asia

Get trusted insights from experts within Asia itself.

Get trusted insights from experts
within Asia itself.

Get Unlimited access

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this month

This is your last free article this month

Stay ahead with our exclusives on Asia; the most
dynamic market in the world
.

Get trusted insights from experts
within Asia itself.

Try 3 months for $9

Offer ends June 30th

Your trial period has expired

You need a subscription to...

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers and subscribe

Your full access to the Nikkei Asian Review has expired

You need a subscription to:

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers
NAR on print phone, device, and tablet media