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.