Global Travel Media » Blog Archive STR: Tokyo’s Olympic hotel gains forecasted to lessen in 2021 | Global Travel Media

Home » Hotel Trends » Currently Reading:

[sam id="86" codes="true"]

STR: Tokyo’s Olympic hotel gains forecasted to lessen in 2021

April 22, 2020 Hotel Trends No Comments
Huawei Black Friday Cyber Monday = Home Page

The Summer Olympics’ performance gains for Tokyo hotels are projected to be lower after the one-year delay in the event, according to the latest forecast from STR and Tourism Economics.

“We are projecting less overall demand when compared with our initial forecast for 2020, and while double-digit RevPAR growth is expected, it will come from a much lower base,” said Robin Rossmann, STR’s managing director. “Lower absolute demand levels would be linked with traveler perception based on the timeline of the COVID-19 pandemic, as well as financial challenges of a potential global recession. The still high level of demand combined with ADR growth should drive RevPAR upward, similar to the growth percentage we saw during last year’s Rugby World Cup in the market.”

Tokyo is expected to see double-digit increases in RevPAR in both July 2021 (+22.1% to JPY16,968) and August 2021 (+27.2% to JPY17,995). While growth levels are similar to the previous forecast, absolute levels will be much lower. Additionally, as a result of the event date change, the same months in 2020 are forecasted for double-digit RevPAR declines.

STR continues to monitor the COVID-19 impact on global hotel industry performance. More analysis, including upcoming and recorded webinars for Japan and other regions, can be found here.

0 0 votes
Article Rating

0 Comments
Inline Feedbacks
View all comments

Comment on this Article:







Subscribe To Receive Our Daily Global Travel Media Newsletter

The FIRST Australian-based news alert is to be delivered every Morning to your Inbox before you arrive at your desk.

Sponsor / Partners

Luxury Traveller by Robert La Bua – SideBar  Position -1
Top 25 Restaurants
Travel Index

 

ADVERTISEMENTS

Huawei – Black Friday / Cyber Monday Sales = Tower

ADVERTISEMENTS

ADVERTISEMENTS

ADVERTISEMENTS

ADVERTISEMENTS

Huawei – Black Friday / Cyber Monday Sales = Tower

GLOBAL TRAVEL MEDIA VIDEOS

 

 

 

TravelManagers Tower 2 300x600px

Advertisments

CT Partners Leader
Global Travel Media
0
Would love your thoughts, please comment.x
()
x
%d bloggers like this:
Global Travel Media
0
Would love your thoughts, please comment.x
()
x
%d bloggers like this:
sitemap