TheTourAttraction.com aims to provide the latest global travel and free travel news, travel and visa policies, and flight information. We hope to provide insights into tourism market, technology and development trends with everyone by providing the latest relevant information. Despite the raging COVID-19 epidemic in 2020, we always firmly believe that mankind will overcome the disease and the tourism market will definitely recover. TheTourAttraction.com look forward to your attention and support, and witness the development of the global tourism industry with us. Looking forward to the information TheTourAttraction.com provide can help you. We will continue to follow up and obtain the latest data, and look forward to your attention and support.
The following is the [Travel News]: Hotel occupancy, investment in Japan hinge on Summer Olympics from [CoStar] recommended by TheTourAttraction.com:
One major problem is the near-total absence of international travelers, although occupancy on the books is high around the rescheduled dates for the Olympics.
Hotel development, openings and revenue management in Japan are in a world of uncertainty due to the ongoing saga over whether the postponed Tokyo Summer Olympics will even take place in 2021.
The Tokyo games are now scheduled July 23 through Aug. 8, but a final decision to go ahead is expected later this month. It is unlikely the event would be moved to 2022 or beyond.
One possibility is that the Olympics go ahead this year but without spectators, a decision that would be of no use in filling hotel rooms and helping investors recoup investment.
Hiroyuki Mizuno, executive officer and SVP of sales and marketing at Tokyu Hotels, said his firm is preparing with the understanding that the Olympics will be held, but the working scenario is difficult.
Nevertheless, he said he believed the hotel investment environment in Japan, including Tokyo, is good.
Tokyu’s Mizuno said one major problem is the near-total absence of international travelers, although occupancy on the books is high around the rescheduled dates for the Olympics.