In order to recover from the difficult situation in 2020, 2021 was a year that saw campaigns and new initiatives from various players. The most prominent of these were the reductions/discounts in/on room rates.
Although travel is on its way to recovery, players in the travel industry were among the businesses that were hardest hit by the pandemic in 2020. Despite various types of financial support from central government and local authorities, the prolonged effect of COVID-19 has been very difficult to withstand, with medium-sized hotels finding it especially hard to continue operating, with the topics of bankruptcy and difficulty in maintaining business operations become an overriding theme in the industry.
Even during the pandemic, many new hotels opened in 2021. The fact that there was a rush of hotel openings in 2020 to coincide with the Tokyo Olympic and Paralympic Games, which were originally due to take place in 2020, and that there will be more hotel openings in 2021, shows that Japan is still considered as an attractive location for travel globally and that the tourism industry in Japan is expected to flourish in the longer term.
After more than a year of experiencing the pandemic, people are feeling increasingly hemmed in by the limitations of home seclusion. More people are changing their mindsets from strict home seclusion to gradually feeling ready to go out and travel again, albeit with safety still of paramount importance.
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Understand the latest market trends and future growth opportunities for the Lodging industry in Japan with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Lodging research and analysis database.
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