Although the entire hospitality industry, including luxury hotels, endured 2020 with hopes for strong recovery of inbound tourism in 2021 due to the postponement of the Tokyo Olympic and Paralympic Games, this never came to fruition, as the Games were held with no audience. The fifth wave of COVID-19 started at the beginning of July and spread at a rapid pace, as it was the more infectious Delta variant.
With plummeting sales due to the impact of COVID-19, players in luxury hotels looked for new ways to attract customers. In 2020, hotels offered reduced-rate long-term stays, which continued to be observed in 2021.
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 that year. However, even in 2021 many new hotels continued to open despite the difficult environment.
In the forecast period, it is expected that travel restrictions will be lifted globally as vaccinations are rolled out and COVID-19 settles down. Japan is still considered a popular travel destination globally, and luxury hotels is likely to recover quickly when the travel bans and other restrictions are lifted, which will enable people to travel both globally and domestically.
Although the luxury hotels opened in 2020 were mainly aimed at catering to the Olympic and Paralympic Games in the country, their intended audience was unable to use these facilities. However, players foresee the robust recovery of tourism in Japan, and not only will the rooms in these luxury hotels start to be filled, but players also have the confidence to continue with their plans for further new openings.
COVID-19 has changed consumers’ values and priorities. As international travel gradually resumes, luxury hotels in Japan will need to recognise this and offer updated experiences that meet consumers’ new demands in the post-COVID-19 world.
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Understand the latest market trends and future growth opportunities for the Luxury Hotels industry in Japan with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Luxury Hotels industry in Japan, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Luxury: includes luxury and upper upscale hotels. Would generally include 5-star hotels and above, but may include some “4.5-Star” outlets, provided that the brands positioning warrants it. The luxury classification is primarily determined by the brand’s positioning and marketing, which will be at the high-end. Brand examples include Marriott, Hilton, Sofitel and InterContinental.See All of Our Definitions
This report originates from Passport, our Luxury Hotels research and analysis database.
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