Risk of fluctuations in hotel demand, room supply, exchange rates, and geopolitical conditions
First written in FY2016. 15 of 35 entries say "Restated". Latest entry: 2026-08-06.
The whole theme swung hardest in 2020: 8 of 15 companies on the "Worse" side.
1 other company's latest entry also says "Worsened".
- FY2026Slowing Chinese demand coexists with high occupancy rates and room ratesAnnual report
「In the hotel and tourism market, while inbound demand from China slowed from the second half of the fiscal year, demand from Europe and the United States remained firm, and occupancy rates and average room rates at accommodation facilities remained at high levels.」
Although the slowdown in inbound demand from China was identified as a new factor affecting demand, occupancy rates and average room rates remained high, supported by demand from Europe and the United States and domestic travel spending. - 2026-05-11RestatedEarnings
「In the hotel and tourism market, inbound demand from China slowed in the second half of the fiscal year, while inbound demand led by Europe and the United States remained firm. Occupancy rates and average daily room rates remained high.」
The disclosure cited slowing demand from China alongside firm demand from Europe and the United States, high occupancy rates and high room rates. - FY2026-H1MitigatedAnnual report
「In the hotel and tourism market, inbound demand continued to expand, with the number of visitors to Japan from January to September 2025 exceeding 30 million at the fastest pace on record. Domestic travel spending also remained firm, supported in part by the effects of Expo 2025 Osaka, Kansai. Hotel occupancy rates and average room rates have continued to increase.」
The number of visitors to Japan exceeded 30 million from January through September 2025, and domestic travel spending remained firm. Against the backdrop of the recovery in hotel demand, occupancy rates and average room rates have continued to increase. - FY2025RestatedAnnual report
「In the hotel and tourism market, occupancy rates and average room rates have increased as domestic travel and inbound demand have expanded, while the effects of labor shortages and overtourism are beginning to emerge.」
The disclosure presents both higher occupancy rates and average room rates resulting from the recovery in domestic travel and inbound demand, and concerns about labor shortages and overtourism. - FY2025-H1WorsenedAnnual report
「In the hotel and tourism market, occupancy rates and accommodation rates have increased as domestic travel and inbound demand have expanded, while the effects of labor shortages and overtourism are beginning to emerge.」
It is stated that occupancy rates and accommodation rates have increased as domestic travel and inbound demand have expanded, while the effects of labor shortages and overtourism are beginning to emerge. The recovery in hotel demand and new operating concerns are presented together. - FY2024MitigatedAnnual report
「During the fiscal year, occupancy rates and average room rates continued to increase under the Group's high-value-added strategy, supported by the continued expansion of domestic tourism demand and the recovery in inbound demand. As a result, both revenue and profit increased substantially year on year.」
The expansion of domestic tourism demand and the recovery in inbound demand drove continued increases in hotel occupancy rates and average room rates. Revenue and profit in the hotel and tourism business both increased substantially year on year, and the impact of the risk of fluctuations in demand continues to ease. - FY2024-Q3MitigatedAnnual report
「In the hotel operations business, the National Travel Assistance program, the transition of COVID-19 to Category 5 under Japan's Infectious Diseases Control Law, and the yen's depreciation due to interest-rate differentials with other countries further increased tourism demand as inbound tourists recovered in addition to domestic demand. As a result, revenue and profit increased year on year.」
In addition to domestic tourism demand, the recovery in inbound tourists increased tourism demand, and revenue and profit in the hotel operations business both increased year on year. The impact of the risk of fluctuations in demand continues to ease. - FY2024-Q2MitigatedAnnual report
「During the fiscal year, domestic tourism demand continued to expand, and the recovery in inbound demand also contributed to continued increases in occupancy rates and average room rates under the Group's high-value-added strategy. As a result, both revenue and profit increased substantially compared with the same period of the previous year.」
The expansion of domestic tourism demand and the recovery in inbound demand drove continued increases in hotel occupancy rates and average room rates, resulting in substantial increases in revenue and profit. The impact of the risk of fluctuations in hotel demand is easing. - FY2024-Q1MitigatedAnnual report
「During the fiscal year, domestic tourism demand continued to expand against the backdrop of the extension of the National Travel Assistance program and the increase in inbound tourists. In line with the Group's high-value-added strategy, occupancy rates and average room rates increased at all hotels operated by the Group. As a result, revenue increased and the Group became profitable compared with the same period of the previous year.」
Against the backdrop of expanding domestic tourism demand and an increase in inbound tourists, occupancy rates and average room rates increased at all hotels, and the hotel operations business became profitable. The impact of the risk of fluctuations in hotel demand is easing. - FY2023MitigatedAnnual report
「As a result, revenue increased and the Group became profitable compared with the previous fiscal year.」
Against the backdrop of the recovery in domestic tourism demand, the National Travel Assistance program and the lifting of the ban on individual travel from overseas, occupancy rates and average room rates increased, and the hotel and tourism business returned to profitability from a loss in the previous fiscal year. - FY2023-Q3MitigatedAnnual report
「During the quarter, as the recovery in domestic tourism demand progressed further with the easing of restrictions on economic and social activity, occupancy rates and average room rates continued to increase against the backdrop of the National Travel Assistance program and the lifting of the ban on individual travel from overseas, in line with the Group's high-value-added strategy. As a result, revenue increased compared with the same quarter of the previous year, and the Group returned to profitability in the third quarter (October–December).」
The recovery in domestic tourism demand, the National Travel Assistance program and the lifting of the ban on individual travel from overseas supported continued increases in hotel occupancy rates and average room rates, and the Group returned to profitability in the third quarter. The impact of the risk of fluctuations in hotel demand has eased from the previous quarter. - FY2023-Q2MitigatedAnnual report
「During the fiscal year, as the recovery in domestic tourism demand progressed further with the easing of restrictions on economic and social activity, occupancy rates and average room rates continued to increase. As a result, revenue increased and the loss narrowed compared with the same period of the previous year.」
The recovery in domestic tourism demand continued to drive increases in hotel occupancy rates and average room rates, lifting revenue and narrowing the segment loss from ¥970 million in the same period of the previous year to ¥334 million. - FY2023-Q1MitigatedAnnual report
「During the fiscal year, as restrictions on economic and social activity were eased and domestic tourism demand began to recover, occupancy rates and average room rates increased. As a result, revenue increased and the loss narrowed compared with the same period of the previous year.」
As restrictions on economic and social activity were eased, domestic tourism demand began to recover, leading to higher occupancy rates and average room rates. Revenue increased, and the loss in the hotel and tourism business also narrowed. - FY2022-Q2MaterialisedAnnual report
「② In the hotel operations business, the Group opened Tabino Hotel lit Matsumoto in July of the current fiscal year and operates a total of 20 hotels (2,859 rooms). During the fiscal year, occupancy rates and average room rates, particularly at urban hotels, remained significantly depressed due to restrictions on tourism under the state of emergency. In addition, the Group recorded opening costs for newly opened hotels. As a result, although revenue increased, a loss was recorded for the fiscal year.」
Although the number of operating hotels expanded to 20 hotels and 2,859 rooms, occupancy rates and average room rates remained significantly depressed due to restrictions on tourism and other factors, and the hotel and tourism business recorded a segment loss of ¥970 million. - FY2022-Q1MaterialisedAnnual report
「② In the hotel operations business, the Group opened HIYORI Chapter Kyoto, a Tribute Portfolio Hotel, and Tabino Hotel lit Miyakojima in June of the current fiscal year, and operates a total of 19 hotels (2,683 rooms). During the fiscal year, occupancy rates and average room rates, particularly at urban hotels, remained significantly depressed due to the sharp decline in inbound visitors amid the COVID-19 pandemic and the resulting restrictions on tourism following the declaration of a state of emergency. In addition, the Group recorded pre-opening costs for newly opened hotels. As a result, although revenue increased, a loss was recorded for the fiscal year.」
Although the number of hotels and rooms increased, occupancy rates and average room rates remained depressed due to the decline in inbound visitors, restrictions on tourism and pre-opening costs, and the hotel operations business continued to record losses. - FY2021MaterialisedAnnual report
「In February, the Group opened HIYORI Ocean Resort Okinawa (203 rooms) and operates 16 hotels (2,295 rooms). Occupancy rates, particularly at hotels in urban areas, fell significantly due to the sharp decline in inbound visitors amid the COVID-19 pandemic, the closure of visitor attractions, the cancellation of events, and restrictions on travel for tourism as well as business purposes. Consequently, despite efforts to reduce expenses, the decline in revenue was substantial compared with the same period of the previous year, and a loss was recorded.」
Although the hotel operations platform expanded to 16 hotels and 2,295 rooms, occupancy rates fell significantly, particularly in urban areas, due to declines in inbound, tourism and business travel demand, and a loss was recorded. - FY2021-Q3MaterialisedAnnual report
「Occupancy rates fell significantly due to the sharp decline in inbound visitors amid the COVID-19 pandemic, the closure of visitor attractions, the cancellation of events, and restrictions on travel for tourism as well as business purposes. Consequently, despite efforts to reduce expenses, the decline in revenue was substantial compared with the same period of the previous year, and a loss was recorded.」
The risk of fluctuations in hotel demand continued to materialize, with occupancy rates falling significantly due to declines in inbound, tourism and business travel demand, and the hotel operations business recording a loss. - FY2021-Q2Factors supporting a recovery in demand have emerged, but the impact continues.Annual report
「Although occupancy rates at hotels in areas with strong business demand remained firm at a certain level, 7 hotels were forced to temporarily suspend operations due in part to the sharp decline in inbound visitors and the closure of tourist facilities, and occupancy rates also fell significantly. Consequently, despite efforts to reduce expenses, the decline in revenue was substantial compared with the same period of the previous year, and a loss was recorded. The spread and expansion of Go To Travel, which began during the six-month period under review, including the start of travel to and from Tokyo, as well as the resumption of various events, are expected to support a recovery going forward.」
While the temporary closure of 7 hotels, lower occupancy rates and continued losses resulting from the decline in inbound visitors and other factors are noted, the disclosure also refers to expectations for a future recovery following the start of Go To Travel trips to and from Tokyo and the resumption of events. - FY2020MaterialisedAnnual report
「In the hotel operations business, occupancy rates at hotels in areas with strong business demand remained firm at a certain level. However, 7 hotels were forced to suspend operations due to the sharp decline in inbound visitors and the closure of tourist attractions, including historic sites and theme parks, while occupancy rates at hotels that continued operating also fell substantially.」
A risk event occurred in which 7 hotels suspended operations and occupancy rates at hotels that continued operating fell substantially due to the sharp decline in inbound visitors and other factors, reflecting the risk of fluctuations in hotel demand and occupancy rates. - FY2020-Q3RestatedAnnual report
「During the cumulative third quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
It is stated that there have been no material changes in the risks of fluctuations in the hotel business due to hotel demand, room supply, foreign exchange rates, geopolitical conditions or other factors. - FY2020-Q2RestatedAnnual report
「During the cumulative second quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
It is stated that there have been no material changes in the risks of fluctuations in the hotel business due to hotel demand, room supply, foreign exchange rates, geopolitical conditions or other factors. - FY2019RestatedAnnual report
「The hotel operations business is generally susceptible to economic trends and personal consumption trends. A decline in corporate business travel demand or personal leisure demand resulting from an economic downturn, or an oversupply of rooms following the opening of new hotels, may cause room rates and occupancy rates to decline and may affect the operating results and financial position of the Group.」
The risk of fluctuations in room rates and occupancy rates due to hotel demand, room supply, economic conditions, foreign exchange rates and geopolitical conditions continues to be disclosed. - FY2019-Q2RestatedAnnual report
「During the first six months of the current consolidated fiscal year, there were no new business or other risks, nor any material changes to the business and other risks described in the securities report for the previous fiscal year.」
It is stated that there have been no new developments or material changes in the risks of fluctuations in hotel demand, room supply, foreign exchange rates or geopolitical conditions. - FY2019-Q1RestatedAnnual report
「During the first quarter of the current fiscal year, there were no new business or other risks, nor any material changes to the business or other risks described in the securities report for the previous fiscal year.」
It is stated that there have been no new developments or material changes in the risks of fluctuations in hotel demand, room supply, foreign exchange rates or geopolitical conditions. - FY2018RestatedAnnual report
「The hotel operations business is generally susceptible to economic trends and personal consumption trends. A decline in corporate business travel demand or personal leisure demand resulting from an economic downturn, or an oversupply of rooms following the opening of new hotels, may cause room rates and occupancy rates to decline and may affect the operating results and financial position of the Group.」
The risk of fluctuations in room rates and occupancy rates due to hotel demand, room supply, economic conditions, foreign exchange rates and geopolitical conditions continues to be disclosed. - FY2018-Q3RestatedAnnual report
「During the nine-month cumulative consolidated period under review, there were no new business or other risks, and no material changes to the business or other risks described in the securities report for the previous fiscal year.」
The company states that there have been no new occurrences or material changes in the risks related to fluctuations in hotel demand, room supply, foreign exchange rates and geopolitical conditions. - FY2018-Q2RestatedAnnual report
「During the first six months of the current consolidated fiscal year, there were no new business or other risks, nor any material changes to the business and other risks described in the securities report for the previous fiscal year.」
The company states that there have been no new occurrences or material changes in the risks related to fluctuations in hotel demand, room supply, foreign exchange rates and geopolitical conditions. - FY2018-Q1RestatedAnnual report
「During the first quarter of the current fiscal year, there were no new business or other risks, nor any material changes to the business or other risks described in the securities report for the previous fiscal year.」
The company states that there have been no new occurrences or material changes in the risks related to fluctuations in hotel demand, room supply, foreign exchange rates and geopolitical conditions. - FY2017RestatedAnnual report
「The hotel business, which operates hotels, is generally susceptible to economic trends and personal consumption trends. A decline in corporate business travel demand or personal leisure demand resulting from an economic downturn, or an oversupply of rooms following the opening of new hotels, may cause room rates and occupancy rates to decline and may affect the operating results and financial position of the Group.」
The risk of fluctuations in room rates and occupancy rates due to hotel demand, room supply, economic conditions, foreign exchange rates and geopolitical conditions continues to be disclosed. - FY2017-Q3RestatedAnnual report
「During the nine-month cumulative consolidated period under review, there were no new business or other risks, and no material changes to the business or other risks described in the securities report for the previous fiscal year.」
The company states that there have been no new occurrences or material changes in the risks related to fluctuations in hotel demand, room supply, foreign exchange rates and geopolitical conditions. - FY2017-Q2RestatedAnnual report
「During the first six months of the current consolidated fiscal year, there were no new business or other risks, nor any material changes to the business and other risks described in the securities report for the previous fiscal year.」
The company states that there have been no additional occurrences or material changes in the risks related to fluctuations in hotel demand, room supply, foreign exchange rates and geopolitical conditions. - FY2017-Q1RestatedAnnual report
「During the first quarter of the current fiscal year, there were no new business or other risks, nor any material changes to the business or other risks described in the securities report for the previous fiscal year.」
The company states that there have been no additional occurrences or material changes in the risks related to fluctuations in hotel demand, room supply, foreign exchange rates and geopolitical conditions. - FY2016First statedAnnual report
「Hotel operations are generally susceptible to economic trends and personal consumption trends. A decline in corporate business travel and personal leisure demand caused by an economic downturn, or oversupply of rooms resulting from new hotel openings, could lead to lower room rates and occupancy rates and affect our Group’s operating results and other matters.」
The company also identifies declining inbound tourism, foreign exchange fluctuations, territorial disputes with neighboring countries and rising anti-Japanese sentiment as factors that may cause volatility in hotel operations.