Weak Business Demand Due to Companies Continuing to Restrict Business Travel
First written in FY2021-Q3. 10 of 15 entries say "Restated". Latest entry: FY2026.
Washington Hotel moved to the "Worse" side of this theme in 2021, 1 year after the typical company in this theme (2020).
The whole theme swung hardest in 2020: 11 of 18 companies on the "Worse" side.
6 other companies' latest entry also says "Restated".
- FY2026RestatedAnnual report
「Going forward, a significant increase in nationwide business accommodation demand is unlikely, while event, tourism and leisure demand is expected to remain solid, supported by the Asian Games and the favorable effect of the calendar centered on Silver Week.」
The company continued to expect limited growth in business accommodation demand, while event, tourism and leisure demand would remain solid. - FY2025RestatedAnnual report
「In the hotel industry, the number of lodging travelers for business trips and work-related purposes has remained low compared with 2019, before the spread of COVID-19 (according to the Japan Tourism Agency's “Travel and Tourism Consumption Trends Survey”), although overall accommodation demand has remained solid due to growth in inbound and leisure demand.」
The company continues to believe that business accommodation demand remains low at 2019 levels, while overall accommodation demand is solid due to growth in inbound and leisure demand. - FY2024WorsenedAnnual report
「Business use for travel and work remained substantially below its previous level, at 81.0% of the 2019 level for the latest publicly available period from April through December, due to the effects of digitalization, including the spread of web conferencing.」
The delayed recovery in business use was quantified at 81.0% of the 2019 level. - FY2024-Q3RestatedAnnual report
「In the hotel industry, leisure demand has become active and recovered to pre-COVID levels, while business demand has not returned to pre-COVID levels.」
The company continues to believe that business demand has not returned to pre-COVID levels, while leisure demand is recovering. - FY2024-Q2RestatedAnnual report
「Among these properties, some have been slow to recover occupancy after reopening, while weekday occupancy has remained weak in the Nagoya area and Kanazawa, among others. The room occupancy rate for the cumulative second-quarter period was 63.3% (64.7% in the first quarter and 61.8% in the second quarter).」
The recovery in weekday occupancy remains slow at some properties following the end of entire-building rentals, as well as in the Nagoya area and Kanazawa, among others. The cumulative room occupancy rate was 63.3%. - FY2024-Q1RestatedAnnual report
「In the hotel industry, leisure demand has recovered to pre-COVID levels, supported in part by tourism-promotion initiatives such as the National Travel Assistance program, although the recovery in business demand has been slow.」
The company continues to believe that the recovery in business demand is slow, while leisure demand is recovering. - FY2023RestatedAnnual report
「Business demand, meanwhile, remained substantially below its previous level due to the spread of web conferencing and other factors.」
The company continues to believe that business demand will not substantially recover due to the spread of web conferencing and other factors. - FY2023-Q3RestatedAnnual report
「However, business demand remained substantially below its previous level due to the spread of web conferencing and other factors.」
While domestic tourism and event demand and inbound demand have shown signs of recovery, business demand remains substantially below its previous level. - FY2023-Q2RestatedAnnual report
「In addition, assuming that business demand may not fully recover due to a decline in business travel demand resulting from the spread of web conferencing and other factors, we will implement the following measures to strengthen sales.」
The company continues to assume a decline in business travel demand due to the spread of web conferencing and other factors, as well as the possibility that business demand will not fully recover. - FY2023-Q1RestatedAnnual report
「While accommodation demand on days before holidays, when tourism demand is high, has been recovering, demand on weekdays, which is centered on business demand, and in major cities such as Tokyo, Osaka, Nagoya and Fukuoka has been slow to recover. The occupancy rate excluding properties operated as entire-building rentals was 43.0%, and remains on the path to recovery.」
The company restated that, while demand on days before holidays was recovering, demand on weekdays, centered on business demand, and in major cities was slow to recover. - FY2022WorsenedAnnual report
「In the hotel industry as well, tourism and leisure demand is expected to recover to pre-COVID levels, but business demand is not expected to fully return, and the recovery in inbound demand is expected to take considerable time.」
The company explicitly identified concerns that business demand would not fully recover, despite expectations for a recovery in tourism and leisure demand. - FY2021WorsenedAnnual report
「Although tourism demand is expected to return in the hotel industry, concerns remain about the recovery of business demand, and the outlook remains uncertain.」
The company explicitly identified concerns about the recovery of business demand, distinguishing it from tourism demand, as an issue. - FY2021-Q3First statedAnnual report
「Business demand has also not improved, as many companies continue to restrict business travel.」
The company explicitly identified the lack of improvement in business demand amid continued restrictions on business travel by companies as a new risk.