Pre-olympic Hotel Building Boom Also Needs To Consider Post-olympic Downsides
With the anticipation of high demand in 2020, particularly during the Tokyo Olympics and Paralympics scheduled for July and August, Japan's capital has been seeing a boom in new hotels, Shukan Jitsuwa (Dec 6) reports.
In October 2017, for instance, on the site of the former Nikko Hotel at Ginza 8-chome, Mitsui Real Estate opened Hotel The Celestine Ginza. In January this year, it was followed by the Hyatt Centric Ginza Tokyo, located on Namiki Dori, a street running parallel to Chuo-Dori (the main Ginza thoroughfare) popular among window shoppers.
"This area has the reputation of being the place in Tokyo where new businesses are established," a local realtor tells the magazine. "It harks back to when the Asahi Shimbun newspaper was founded here. Last year construction on a new 12-story building named The Tokyo Ginza Asahi Building was completed. From the third floor and above, the entire building is rented out by Orix Realty to companies that will be supporting Hyatt Hotel operations. The ground floor and second floor will house stores selling high-class brand goods, such as a Rolex shop, Louis Vuitton boutique and so on, aimed at serving the needs of visitors from overseas."
In spring of 2020, the American-based Marriott Hotel Chain, in collaboration with Mori Trust, will be opening The Tokyo Edition Ginza at Ginza 2-chome. A second Marriott – AC Hotel by Marriott Tokyo Ginza – to be operated in partnership with Tobu Railway Co Ltd, expects to open by summer 2020 at Ginza 6-chome.
