Hotel investment market activity and rising inbound tourism demand
First written in FY2017-Q1. 10 of 32 entries say "Restated". Latest entry: FY2027-H1.
Ichigo moved to the "Worse" side of this theme in 2026.
0 other companies' latest entry also says "Other".
- FY2027-H1Inbound demand remains high, although growth has partially slowedAnnual report
「In the hotel market, growth slowed in some areas, with the number of overseas visitors to Japan falling below the prior-year level in some months. However, visitor numbers remained high, and lodging demand remained firm, although conditions varied by region and market.」
While growth in the number of overseas visitors to Japan showed some signs of slowing, visitor numbers remained high and lodging demand remained firm, with differences across regions and markets. - 2026-07-15WorsenedEarnings
「In addition to the higher proportion of newly acquired and rebranded hotels still undergoing value enhancement, RevPAR for all owned hotels fell 10% year on year due to the reversal of demand related to the Osaka-Kansai Expo in the prior-year period, particularly in the Osaka area, and weaker lodging demand against the backdrop of the Chinese government’s request to refrain from travel to Japan.」
In contrast to previously favorable descriptions of hotel investment and inbound demand, the Company reports lower RevPAR across owned hotels and weaker lodging demand. - FY2025AdvancedAnnual report
「The number of international visitors to Japan exceeded 36 million in 2024, 15.6% above 2019 levels, before the impact of COVID-19, according to the Japan National Tourism Organization.」
It reports that the number of international visitors to Japan exceeded 36 million in 2024, up 15.6% from 2019. - FY2025-Q1Continued expectations for a recovery in domestic and inbound hotel demandAnnual report
「Strong demand is expected to continue in both the domestic and inbound hotel markets, and progress has been steady toward stock earnings reaching a record high for the second consecutive period.」
It indicates that both domestic and inbound hotel demand are recovering strongly and describes progress toward stock earnings reaching a record high. - FY2024AdvancedAnnual report
「The number of international visitors to Japan has recovered to above pre-COVID levels.」
It states that inbound demand has recovered to above pre-COVID levels. - FY2024-Q3International visitor numbers recovered to above pre-COVID levelsAnnual report
「Although rising prices have increased consumers' inclination to economize, demand for services such as lodging and dining remains strong, and the number of international visitors to Japan has recovered to above pre-COVID levels.」
The description has progressed from expectations for a recovery in inbound demand to the number of international visitors to Japan having recovered to above pre-COVID levels. - FY2024-Q2Improvement in hotel earnings, including the recovery in inbound demandAnnual report
「Strong demand is expected to continue in both the domestic and inbound hotel markets, and further earnings growth is anticipated.」
It states that both domestic and inbound demand in the hotel market are recovering strongly and that further earnings growth is expected. - FY2024-Q1Rising inbound demand and hotel recoveryAnnual report
「Lodging demand continues to recover strongly, and hotel revenue is performing well. In the first quarter, RevPAR at the Company's hotels, defined as revenue per available room, was up 28.5% from the fiscal year ended February 2020, which was largely unaffected by COVID-19 in the Company's business activities, driving the recovery in stock earnings. Domestic and inbound demand is expected to continue recovering strongly, with further earnings recovery anticipated.」
Regarding the recovery in hotel demand and revenue, RevPAR at the Company's hotels rose 28.5% from the fiscal year ended February 2020, and continued recovery in domestic and inbound demand is expected. - FY2023-Q3Hotel demand improved strongly, but inbound demand had not recoveredAnnual report
「In the real estate industry in which the Company operates, hotel revenue is increasing due to a strong improvement in hotel demand. As inbound demand had not returned to pre-COVID levels, further recovery was expected.」
It states that hotel revenue was increasing due to a strong improvement in demand, while inbound demand had not returned to pre-COVID levels and further recovery was expected. - FY2023-Q2Domestic hotel demand recovered as restrictions were eased, but inbound demand remained limitedAnnual report
「In the hotel industry, which was severely affected by COVID-19, local governments continued to lease entire hotel buildings for use as COVID-19-related facilities in various areas, while demand was recovering as restrictions on activities were eased and domestic tourism and event demand increased. Inbound demand remained limited and was considered likely to take time to recover to pre-COVID levels, but further relaxation of government border control measures was expected to support further recovery in hotel demand.」
It states that, while local governments continued to lease entire hotels for use as COVID-19-related facilities, domestic tourism and event demand increased and the hotel market was recovering as restrictions on activities were eased. However, inbound demand remained limited and a return to pre-COVID levels was expected to take time. - FY2023-Q1Hotel revenue was recovering, but limited inbound demand kept it below pre-COVID levelsAnnual report
「In the hotel industry, which was severely affected by COVID-19, revenue was recovering, but inbound demand remained limited and had not recovered to pre-COVID levels. Further recovery was expected as the government further relaxed border control measures.」
It states that hotel revenue was recovering but had not returned to pre-COVID levels because inbound demand remained limited, while expecting further recovery as border control measures were relaxed. - FY2022Domestic mobility was expected to recover, but inbound demand was absent and a full recovery would take timeAnnual report
「In the hotel industry, which was severely affected by COVID-19, domestic mobility and revenue were expected to recover and increase, respectively, but inbound demand was almost nonexistent and a full recovery was considered likely to take time.」
The description of the hotel market shifted to expectations for a recovery in domestic mobility and higher revenue, while stating that a full recovery would take time because inbound demand was almost nonexistent. - FY2022-Q3Domestic mobility recovered, but inbound demand was absent and a full recovery was not achievedAnnual report
「In the hotel industry, which was severely affected by COVID-19, domestic mobility was recovering and revenue was increasing accordingly, but inbound demand was almost nonexistent and concerns about the renewed spread of COVID-19 variants meant that a full recovery had not been achieved.」
It states that hotel revenue increased as domestic mobility recovered, but a full recovery had not been achieved because inbound demand was almost nonexistent and there were concerns about the renewed spread of COVID-19 variants. - FY2022-Q2Hotel demand had not recovered, but a recovery was expected as vaccinations progressedAnnual report
「In the hotel industry, which was severely affected by COVID-19, demand had not recovered, partly due to the state of emergency, but a recovery was expected as vaccinations progressed.」
It states that hotel demand had still not recovered, while expecting a recovery as vaccinations progressed. - FY2022-Q1Hotel demand had not recovered, but a recovery was expected as vaccinations progressedAnnual report
「In the hotel industry, which was severely affected by COVID-19, demand had not recovered, partly due to the state of emergency, but a recovery was expected as vaccinations progressed.」
It states that hotel demand had not recovered due to the state of emergency, while expecting a recovery as vaccinations progressed. - FY2021-Q3Hotels were beginning to recover but had not reached a full recoveryAnnual report
「The hotel sector, which was the hardest hit, was showing signs of recovery but had not achieved a full recovery, and revenue had fallen sharply.」
The description shifted from rising inbound demand and a buoyant hotel market to a situation in which hotels were beginning to recover after COVID-19 but had not reached a full recovery and revenue remained sharply depressed. - FY2021-Q2RestatedAnnual report
「In the hotel industry, which was severely affected by COVID-19, restrictions on the movement of people were imposed worldwide, causing demand to plunge.」
It continues to describe movement restrictions caused by COVID-19 and a sharp decline in hotel demand as conditions in the hotel market. - FY2021-Q1Hotel demand plunged due to COVID-19Annual report
「In the hotel industry, which was severely affected by COVID-19, restrictions on the movement of people were imposed worldwide, causing demand to plunge.」
The description shifted from rising inbound demand and a buoyant hotel market to movement restrictions caused by COVID-19 and a sharp decline in hotel demand. - FY2020-Q2Inbound growth continues despite substantial new supply and Japan–South Korea relationsAnnual report
「In the hotel market, although some regions were affected by substantial new supply and Japan–South Korea relations, international visitors to Japan continued to increase, partly due to the effects of the 2020 Tokyo Olympics and various government policies aimed at making Japan a tourism-oriented country.」
It explains that, while some regions were affected by substantial new supply and Japan–South Korea relations, the upward trend in international visitors to Japan continued, supported by the effects of the Tokyo Olympics and government policies. - FY2020-Q1RestatedAnnual report
「In the hotel market, although some regions were affected by substantial new supply, international visitors to Japan continued to increase, particularly from Asian countries, partly due to the effects of the 2020 Tokyo Olympics and various government policies aimed at making Japan a tourism-oriented country.」
It notes the impact of substantial new supply in some regions, while continuing to describe the upward trend in international visitors to Japan, driven by the Tokyo Olympics and government policies. - FY2019Inbound growth continues despite the effects of natural disasters and substantial new supplyAnnual report
「In the hotel market, although some regions were affected by natural disasters and substantial new supply, international visitors to Japan continued to increase, particularly from Asian countries, partly due to the effects of the 2020 Tokyo Olympics and various government policies aimed at making Japan a tourism-oriented country.」
It states that, while some regions were affected by natural disasters and substantial new supply, the upward trend in international visitors to Japan continued, supported by the effects of the Tokyo Olympics and government policies. - FY2019-Q3Inbound demand temporarily declined due to natural disasters, but the upward trend continuesAnnual report
「In the hotel market, although the number of international visitors to Japan temporarily declined due to natural disasters, it continued to trend upward steadily, supported by reconstruction demand as well as the effects of the 2020 Tokyo Olympics and various government policies aimed at making Japan a tourism-oriented country, particularly in relation to visitors from Asian countries.」
It notes the temporary decline in international visitors to Japan due to natural disasters, while explaining that the upward trend is continuing, supported by reconstruction demand and the effects of government policies. - FY2019-Q2RestatedAnnual report
「In the hotel market, while substantial new supply continues in some regions, international visitors to Japan continue to increase, particularly from Asian countries, partly due to the effects of the 2020 Tokyo Olympics and various government policies aimed at making Japan a tourism-oriented country.」
It continues to describe substantial new hotel supply and the upward trend in international visitors to Japan, driven by the Tokyo Olympics and government policies. - FY2019-Q1RestatedAnnual report
「In the hotel market, while substantial new supply continues, international visitors to Japan continue to increase, particularly from Asian countries, partly due to the effects of the 2020 Tokyo Olympics and various government policies aimed at making Japan a tourism-oriented country.」
It continues to describe increases in hotel supply and international visitors to Japan, driven by the Tokyo Olympics and government policies. - FY2018RestatedAnnual report
「In the hotel market, while substantial new supply continues, international visitors to Japan continue to increase, particularly from Asian countries, partly due to the effects of the 2020 Tokyo Olympics and various government policies aimed at making Japan a tourism-oriented country.」
It continues to describe the upward trend in international visitors to Japan, driven by the Tokyo Olympics and government policies, amid continued substantial new hotel supply. - FY2018-Q3RestatedAnnual report
「In the hotel market, international visitors to Japan continued to increase, particularly from Asian countries, partly due to the effects of the 2020 Tokyo Olympics and various government policies aimed at making Japan a tourism-oriented country.」
It continues to describe the upward trend in international visitors to Japan, driven by the Tokyo Olympics and government policies. - FY2018-Q2RestatedAnnual report
「In the hotel market, international visitors to Japan continued to increase, particularly from Asian countries, partly due to the effects of the 2020 Tokyo Olympics and various government policies aimed at making Japan a tourism-oriented country. Although the entry of companies from other industries following passage of the new law on private lodging warrants close monitoring, strong lodging demand was considered unchanged.」
It continues to describe the upward trend in international visitors to Japan and strong lodging demand. - FY2018-Q1RestatedAnnual report
「In the hotel market, international visitors to Japan continued to increase, particularly from Asia, partly due to the effects of the 2020 Tokyo Olympics and various government policies aimed at making Japan a tourism-oriented country. Although the entry of companies from other industries following passage of the new law on private lodging warrants close monitoring, strong lodging demand was considered unchanged.」
It continues to describe the upward trend in international visitors to Japan and strong lodging demand. - FY2017RestatedAnnual report
「According to the Japan Tourism Agency, the cumulative annual number of international visitors to Japan exceeded 20 million for the first time as of October 2016, and the upward trend in visitors, particularly from Asia, where port calls by overseas cruise ships and air routes are expected to increase, continued. Meanwhile, hotel earnings growth moderated somewhat, partly due to unsettled weather, although strong lodging demand was considered unchanged.」
It describes the number of international visitors to Japan exceeding 20 million, slower hotel earnings growth and the continued strength of lodging demand. - FY2017-Q3Inbound demand continues to expand, while hotel earnings growth is slowingAnnual report
「In the hotel market, international visitors to Japan continued to increase, particularly from Asia, where port calls by overseas cruise ships and air routes are expected to expand, partly due to the effects of the 2020 Tokyo Olympics and various government policies aimed at making Japan a tourism-oriented country. According to the Japan Tourism Agency, the cumulative annual number of international visitors to Japan exceeded 20 million for the first time as of October 2016. Meanwhile, hotel earnings growth moderated somewhat, partly due to unsettled weather, although strong demand was considered unchanged.」
It explains that the number of international visitors to Japan exceeded 20 million for the first time, while hotel earnings growth moderated somewhat, partly due to unsettled weather. - FY2017-Q2RestatedAnnual report
「In the hotel market, international visitors to Japan continue to trend upward, particularly from Asian countries where port calls by overseas cruise ships and air routes are expected to increase, partly due to the effects of the 2020 Tokyo Olympics and various government policies aimed at making Japan a tourism-oriented country, and hotels continue to maintain high occupancy rates.」
It continues to describe rising inbound demand and high hotel occupancy rates. - FY2017-Q1First statedAnnual report
「The hotel investment market remains buoyant, partly due to the effects of the 2020 Tokyo Olympics and various government policies aimed at making Japan a tourism-oriented country. The number of international visitors to Japan has increased significantly, while domestic tourism demand has also remained robust.」
It explains that the hotel investment market and tourism demand are buoyant, driven by the Tokyo Olympics, government policies and the increase in international visitors to Japan.