Japan hotel occupancy rate hits 74.4% in H1 2024 | Real Estate Asia
, Japan

Japan hotel occupancy rate hits 74.4% in H1 2024

In Tokyo, the occupancy rate was at nearly 78%.

 

According to data from Colliers, Japan’s H1 2024 hotel performance showed Occupancy (OCC) at 74.4%, Average Daily Rate (ADR) at USD 129 and Revenue Per Available Room (RevPAR) at USD 96. 

 

Here’s more from Colliers:

 

In Tokyo, demand for luxury accommodation spearheads hospitality’s demand and performance growth. The capital is home to a growing concentration of luxury local and internationally-branded hotels. Key indices, particularly ADR and RevPAR, show remarkable growth, providing the impetus for more foreign brands to enter the market.

 

Tokyo experienced OCC at nearly 78%, slightly up from 76% YoY. ADR was at USD 188 (c. JPY 29,100), up from USD 167 (c. JPY 22,900). RevPAR was at USD 148 (c. JPY 22,900), up by more than 16% from H1 2023 RevPAR of USD 128 (c. JPY 17,500).

 

Regarding RevPAR improvement versus H1 2023 across the major Asia pacific (APAC) markets, Tokyo outperformed other cities to lead Ho Chi Minh, Bali, New Delhi, and Hanoi. In H1 2024, Tokyo’s RevPAR topped the main APAC markets, ahead of Hong Kong (USD 142), Sydney (USD 137) and Taipei (USD 127). 

 

Osaka also boasted strong H1 2024 results with OCC at 79%, ADR at USD 121 and RevPAR at almost USD 96, up more than 8% YoY.

Join Real Estate Asia community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

Singapore’s Q3 industrial sales breach 5-year quarterly average
Sales grew by 7.6% You to 440 transactions.According to a Savills report, following a short-lived recovery in Q2, the strata industrial sales activity in Singapore slowed by 19.7% QoQ to 440 transactions in Q3 due to the high base effect in the preceding quarter.
Industrial
Delhi net office absorption to increase by 6% to 7.5m sq ft by year-end
Net absorption was at 1.9m sq ft in Q3 alone.According to a JLL report, premium office locations and high-quality buildings supported by institutional owners are anticipated to see increased leasing activity and rents.