Niseko Hotel Supply Rises 46% in 2026 as Summer Rates Climb, C9 Hotelworks Reports
C9 Hotelworks' 2026 Niseko review shows 46% hotel supply growth and rising summer ADR, with the market's investment case shifting toward year-round demand beyond its dominant winter season.
From right – David Johnson, CEO of Delivering Asia, Atsushi Nozao, Sales Manager for Japan at STR CoStar, Giles Adams, Partner and President of ThirdHome, Wade Shealy, Founder and CEO of ThirdHome, Miwa Urata, Manager of Global Sales and Branding at List Sotheby’s International Realty Japan, Bill Barnett, Managing Director of C9 Hotelworks, Penny Trinh, Vice President of Mixed-Use Development for Asia Pacific, Marriott International — Photo by C9 Hotelworks Ltd.
C9 Hotelworks has released its Niseko Tourism, Hotel and Property Market Review 2026, combining its own market research with hotel performance data from STR CoStar. The review finds Japan's leading ski resort entering a period of rapid supply growth, with its investment case increasingly tied to trading beyond winter.
Niseko has built one of Asia's strongest winter markets, but 792 new hotel keys can't be filled in four months. Our review shows demand deepening through longer stays and new North American access. The next chapter of Niseko's story will be written in the shoulder seasons.
Bill Barnett, Managing Director of C9 Hotelworks
Winter visitor arrivals across Kutchan, Niseko and Rankoshi rose 8.4% to 2.14 million between November 2025 and March 2026. Stays lengthened, with 24.5% of international overnight guests staying eight nights or more, up from 21.7% the previous winter. International guest nights increased 32.9%.
The United States is now Niseko's largest international source market by overnight guests at 40,504, up 15.2%. Access improves in December, when United Airlines from San Francisco and Air Canada from Vancouver each begin three weekly flights to New Chitose Airport.
STR CoStar data for the Niseko market confirms winter remains the engine. February 2026 occupancy reached 84.8%, up 6.0 percentage points, at an ADR of JPY 156,773 (USD 988), while March RevPAR grew 24%. Summer is where the shift is showing. ADR rose 10.6% in June and 15% in July to JPY 40,209, and July occupancy improved 4.1 points to 41.1%, lifting RevPAR 27.7%.
July delivered year-on-year growth in both occupancy and rate, and ADR growth was the strongest of the past twelve months. The opportunity now sits in April to June, when occupancy remains between 19% and 26%, well below winter levels.
Atsushi Nozao of STR CoStar
That gap matters because supply is rising fast. Moxy Niseko Village (310 keys) and Hotel101 Niseko (482 keys) take inventory from 1,727 keys to 2,519 by end-2026, a 46% increase.
Primary residential supply rose 27.6% to approximately 2,500 units, the highest level in the 2018 to 2026 period, with Fairmont, Hoshinoya, The Chedi and Aman in the pipeline through 2030.
The full report is available at: https://c9hotelworks.com/market_reports/niseko-tourism-hotel-property-market-review-2026.
About C9 Hotelworks
C9 Hotelworks is led by founder and Managing Director Bill Barnett, who brings over 30 years' experience in the Asian hospitality and real estate sectors. Prior to founding C9 in 2003, Bill held senior executive roles in hotel operations, development and asset management. He is considered to be a leading global authority on hotel residences, and has sat at almost every seat around the hospitality and real estate table. Bill promotes industry insight through regular conference presentations at key events and contributes to numerous industry publications. For more information contact www.c9hotelworks.com.
Media Contact
Bill Barnett
Managing Director, C9 Hotelworks [email protected] +66 (0)8 1956 1802