Luxury Hotel Openings Surge In Tokyo Ahead Of The 2020 Olympics
In preparation for the 2020 Summer Olympics and the tourism boost that comes along with it, developers have imparted on Tokyo to showcase new luxury projects and properties.
Among the wave of luxury properties is a Four Seasons hotel on the top six floors of a 39-story tower in the city’s financial district, and the first Japanese location of Marriott International’s Edition brand, which is set to open by next summer.
However, it’s not just new properties preparing for the Summer Games—even historic properties like The Okura Tokyo hotel are prepping for the tourism boom. The Okura Tokyo will reopen on Thursday after $1 billion USD re-creation—and the best rooms will cost guests up to USD$28,000 a night.
“Compared to other cities like New York and Paris, Tokyo still has very few luxury hotels,” Miwako Date, chief executive of real estate company Mori Trust Co. told the The Wall Street Journal. Date also pointed out that Tokyo’s new luxury market isn't “just about quantity, but also quality,” and boasts not just old world hospitality but also younger, hip hotels.
Despite its size and budding tourism industry, Japan only has 32 five-star hotels, compared to 187 in Italy or 793 in the U.S. This is largely due to a space issue, with most of the new luxury properties finding a home in the top few floors of office towers.
The new Tokyo Edition Toranomon will open atop a 38-story tower, whereas the new Four Seasons will stand alone. The 193-room property was designed by architect Jean-Michel Gathy, who is also responsible for the rooftop infinity pool at Marina Bay Sands in Singapore and will open in the financial district of Otemachi.
Japan is expecting over 40 million visitors leading up to the 2020 Olympics in Tokyo, which is up from 31 million in 2018.