Tokyo luxury hotels report record-low occupancy in January

Posted on February 10, 2009 by DM

HONG KONG (MarketWatch) — Occupancy rates at some of Tokyo’s most prestigious hotels fell to never-before-seen lows last month as business and tourism visits declined, according to a Japanese media report. The Imperial Hotel Tokyo saw its occupancy rate fall to 59.6% in January, its lowest level since December 1986, the Nikkei newspaper reported in its Tuesday morning edition. Occupancy rates at the Hotel Okura Tokyo and Hotel New Otani Tokyo, where room rates for multi-night stays begin around 16,800 yen ($184) per night, fell to 45% and 37% respectively, the report said. The number of overseas visitors to Japan has declined for five straight months since August, against the same month a year earlier.

This entry was posted in Dr. Mulli's Business Blog. Bookmark the permalink.

1 Response to Tokyo luxury hotels report record-low occupancy in January

JennL. says:

February 15, 2009 at 10:06 pm

I guess the economic crisis is surely affecting Worldwide. People from other countries are facing economic crisis therefore they would not spend the money to travel to Japan. I guess economic crisis is causing a long-term problem situation to the World. I believe this article goes under the Business Organization and Enviroment module and also the financing module. The finanacing module because it is related to money. The lack of cosumers is lowering their profit. Of course, this also goes under the Business Organization and Enviroment module because it is a business that is going on, and that it is affecting the enviroment.

Reply