Slowdown in Hotel Demand Due to COVID-19
First written in FY2021. 7 of 11 entries say "Mitigated", first in FY2022-Q1. Latest entry: FY2024.
The whole theme swung hardest in 2020: 25 of 30 companies on the "Worse" side.
13 other companies' latest entry also says "Mitigated".
- FY2024MitigatedAnnual report
「Following the reclassification of COVID-19 under the Infectious Diseases Control Law from Category 2 to Category 5, economic activity is moving further toward normalization and is on a recovery trend.」
Against a backdrop of the legal reclassification of COVID-19 and the normalization of economic activity, the risk of demand slowing due to COVID-19 was considered to be continuing to ease. - FY2024-Q2MitigatedAnnual report
「As COVID-19 was reclassified under the Infectious Diseases Control Law from Category 2 to Category 5, the restrictions on movement previously in place were lifted and economic activity has been moving toward normalization.」
It explained that economic activity was moving toward normalization following the legal reclassification of COVID-19 and the lifting of restrictions on movement. - FY2024-Q1MitigatedAnnual report
「Hotel occupancy rates have been trending higher year on year, and our current orders from hotels have also increased, showing signs of recovery in sales to commercial facilities.」
Against a backdrop of eased COVID-19 restrictions and improved occupancy rates, orders from hotels increased, and hotel demand showed signs of recovery. - FY2023MitigatedAnnual report
「Although the recovery in new investment and renovations at hotels and other accommodation facilities remains weak, hotel occupancy rates have been trending higher year on year, partly because the government-funded nationwide travel subsidy program began in October 2022 in response to COVID-19.」
Although uncertainty remains over a full recovery in demand for new hotels and renovations, improvements in occupancy rates and an increase in hotel-related sales were confirmed. - FY2023-Q3MitigatedAnnual report
「Sales to commercial facilities had continued to decline through the second quarter compared with the cumulative total for the same period of the previous fiscal year, but the government-funded nationwide travel subsidy program began in October 2022, improving hotel occupancy rates year on year. As a result, although a full recovery in renovation and new investment in hotel mattresses is not yet in sight, sales turned from a decline to an increase of ¥69.976 million from the cumulative total for the same period of the previous fiscal year.」
Although a full recovery in mattress demand from the hotel industry is not yet in sight, sales to commercial facilities increased by ¥69.976 million year on year against a backdrop of improved occupancy rates supported by the nationwide travel subsidy program. - FY2023-Q2MaterialisedAnnual report
「Sales to commercial facilities declined by ¥33.660 million from the cumulative total for the same period of the previous fiscal year, as demand recovery in the hotel industry remained sluggish amid the prolonged pandemic and the comparison period coincided with a state of emergency.」
Hotel demand remained sluggish, and sales to commercial facilities declined by ¥33.660 million year on year. - FY2023-Q1MitigatedAnnual report
「Although a full recovery in demand from hotels is still expected to take time, sales to commercial facilities have exceeded the cumulative total for the same period of the previous fiscal year.」
It said that a full recovery in hotel demand would take time, while sales to commercial facilities exceeded the year-earlier period and improved from the previous year. - FY2022WorsenedAnnual report
「Sales to hotels are classified as sales to commercial facilities, which accounted for 7.4% of the sales mix in the fiscal year ended March 2022, with hotels accounting for the majority of sales to commercial facilities. Accordingly, if new hotel projects and renovation projects are canceled or postponed because COVID-19 is not brought under control and the stagnation in domestic and inbound tourist demand continues, this could affect our operating results and financial position.」
It explained that hotel-related demand accounted for 7.4% of sales to commercial facilities, and that hotel sales declined substantially in addition to projects being postponed or canceled. - FY2022-Q3MaterialisedAnnual report
「Meanwhile, demand in the hotel industry continued to languish amid the spread of COVID-19, and the spread of new variants led to the postponement or cancellation of hotel construction and renovation plans, affecting our sales to commercial facilities.」
With the spread of new variants, hotel construction and renovation plans were in fact postponed or canceled, affecting sales to commercial facilities. - FY2022-Q1MitigatedAnnual report
「In the hotel industry, the challenging environment continues, including the decision to hold the Olympics without spectators, but we are seeing signs that previously suspended capital investment plans for new construction and renovations are resuming.」
It stated that, although the challenging environment in the hotel industry continues, previously suspended new construction and renovation plans are beginning to resume. - FY2021First statedAnnual report
「We had expected that the recovery in demand from hotels, supported by inbound tourism, would still take time due to the impact of COVID-19, and were consequently forced to contend with a substantial slowdown in that demand.」
The slowdown in hotel-related demand was reflected in actual results, with sales to commercial facilities down 54.4% year on year.