Japan Hotel Market, Volume & Forecast by Type, Company Analysis By 2026

Japan Hotel Market is expected to reach US$ 23.49 Billion by 2026. Forecast by Type, Ordering Platform (Offline, Online), Region, Company Analysis.
By: Renub Research
 
ROSWELL, Ga. - April 24, 2021 - PRLog -- The year 2020 was a very devastating year across the world for tourism industry due to COVID – 19 pandemic. Globally, borders were sealed and remained effectively closed for foreign tourists. But, the second half of 2021 is expected to bring a little hope to the hospitality business and that brings hope for Japan as well. Our research finds that there has been a considerable movement of domestic tourists in Japan. These domestic tourists have provided much needed relief to the bleeding hotel industry of Japan. We also believe that Japan hospitality market will reach its pre-COVID level by the end of year 2022. According to Renub Research new report, Japan Hotel Market is expected to reach US$ 23.49 Billion by 2026.

As per the analyst's viewpoint, the business owners, international hotel operators, investors have maintained an interest in the Japanese hotel market. They see this downturn as an opportunity to buy up distressed assets. Though most business owners, hoteliers currently prefer fixed rent lease. Before 2020, the tourism industry was on the rise in Japan before the pandemic. As per our study, there will be growth opportunity in the tourism industry during the forecast period. In order to match this growth, the big hotel chains are expanding their footprint across the country. As per this report, post-COVID-19 recovery, the Japan Hospitality Market will grow with a massive CAGR of 54.01 % during 2020-2026.

Japan has numerous hotel establishments distributed across the country, of which the mid-scale hotel segment dominates the country. Domestic tourists are its primary clientele due to the quality services offered by most mid-scale hotel segment hotels, and effective utilization of the available space has become the significant reason for this segment's rapid growth. As per our research findings, Japan Hotel Industry was US$ 1.76 Billion in 2020.

In Japan, the online hotel market targets a variety of consumer groups and that with different behaviour types with an offer that matches their needs and budget level. With the advancement in technology, the online hotel market is rising at a fast pace. On the other hand, COVID-19 has accelerated the digitization of the travel agent model; creating more shop closures as in-store agencies switch operations online, creating the downfall of the country's offline hotel booking market.

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Follow the link for the full report with detailed TOC and list of figures and tables:  https://www.renub.com/japan-hotel-market-p.php

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Tags:Japan Hotel Market
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