Asia -  Tokyo, Japan

Tourist arrivals into Japan seem to be defying sluggish growth of its economy having achieved record levels in 2014 and 2015. Given its best-in class infrastructure, connectivity and a weakening Yen against major global currencies has made Japan one of the preferred tourist destinations around the globe. The capital city, and port of entry for majority of the tourists, Tokyo, has benefitted most due to the uptrend in passenger movements. The high cost of real estate that acts as a substantial barrier to entry coupled with surging demand has put Tokyo in the spotlight for hotel investors. This was clearly evident as the city saw a noticeable increase in hotel transactions and overall value in 2015 compared to previous years. As per HVI, in local currency, the city saw an increase of almost 39% in valuation in 2015 over that in 2014; however, the return in USD was reduced to almost half after factoring in the depreciation of the Yen.

Change In Value For Market:

Legend
Significant Value Increase: Greater than +10%
Moderate Value Increase: Between +3% and +10%
Stable Values: Between -3% and +3%
Moderate Value Decline: Between -3% and -10%
Significant Value Decline: Less than -10%

Tokyo RevPAR Change

Tokyo RevPAR

Year RevPAR
2013 154.46
2014 158.91
2015 159.59
2016 172.04
2017 (f) 184.69
2018 (f) 199.67

For more information, please contact:

Hok Yean CHEE
hychee@hvs.com
  • +65 6730-6308 (w)
  • +65 9686-6218 (m)
Ho Mei Leng
mlho@hvs.com
  • +65 6730-6300 (w)
  • +65 9620-2511 (m)