Apr 08 (Nikkei) - Japanese property developer Hulic will open a luxury ryokan -- a traditional Japanese inn -- in Tokyo's Ginza district in 2025, the latest sign that companies are betting on a strong rebound in travel demand as governments around the world relax COVID-19 restrictions.
The most expensive room at the inn will go for about 300,000 yen ($2,426) per night.
Development of lodging facilities is picking up steam globally, with investment in 2022 expected to be 40% higher than last year, rising to levels last seen in 2015, which saw record investment. Major projects in Japan include reconstruction of the iconic Imperial Hotel in Tokyo.
Hulic's ryokan is tentatively named Fufu Tokyo Ginza. The company will spend 20 billion yen to convert an office building on a main street in the upscale district into a 12-story complex. Six of the upper floors will become a 38-room ryokan. It will be Hulic's 13th luxury Japanese-style inn.
The largest room in the inn is expected to be around 130 sq. meters. All rooms will have their own hot spring baths, setting the inn apart from other upscale hotels in the area. One-third of the guests are expected to be tourists visiting Japan. It is rare for a luxury ryokan to be built on a major street in Ginza. ...continue reading
