{"id":237438,"date":"2024-06-13T05:15:00","date_gmt":"2024-06-12T22:15:00","guid":{"rendered":"https:\/\/www.ttrweekly.com\/site\/?p=237438"},"modified":"2024-06-13T05:52:16","modified_gmt":"2024-06-12T22:52:16","slug":"tokyo-hotel-performance-peaks","status":"publish","type":"post","link":"https:\/\/www.ttrweekly.com\/site\/2024\/06\/tokyo-hotel-performance-peaks\/","title":{"rendered":"Tokyo&#8217;s hotel performance peaks"},"content":{"rendered":"\n<p>SINGAPORE, 13 June 2024: Tokyo\u2019s hotel industry reported record-high average daily rate (ADR) and revenue per available room (RevPAR) in May, according to preliminary data from CoStar.&nbsp;<\/p>\n\n\n\n<p>CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.&nbsp;<\/p>\n\n\n\n<p><strong>May 2024 (year-over-year % change)<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Occupancy: 78.4% (+4.2%)<\/li>\n\n\n\n<li>Average daily rate (ADR): 37,671.27 (+44.0%)<\/li>\n\n\n\n<li>Revenue per available room (RevPAR): JPY29,529.07 (+50.0%)<\/li>\n<\/ul>\n\n\n\n<p>According to daily data, Tokyo\u2019s occupancy levels experienced a surge on Saturday, 25 May (89.1%), propelled by the energy of several music events held in Tokyo Dome. The market recorded its highest RevPAR levels on the same night, at JPY38,913.89. Overall, Tokyo\u2019s occupancy remained above the 70% mark throughout the month, apart from five days.<\/p>\n\n\n\n<p>The market\u2019s room rates spiked on Constitution Memorial Day (Friday, 3 May), at JPY44,743.14; closely followed by Saturday, 4 May (Greenery Day), at JPY44,038.37.<\/p>\n\n\n\n<p>Apart from events in May, several contributing factors, such as a later opening post-pandemic, above-average inflation, and an influx of international demand, also significantly impacted Tokyo\u2019s ADR and RevPAR increases. A full Japan room rate analysis can be found <a href=\"https:\/\/str.us11.list-manage.com\/track\/click?u=98de2a74ef2cba050d8bede8a&amp;id=f0e5ada732&amp;e=471a5969ca\" target=\"_blank\" rel=\"noreferrer noopener\">here<\/a>.<\/p>\n\n\n\n<p>For more information about the company and its products and services, please visit <a href=\"https:\/\/str.us11.list-manage.com\/track\/click?u=98de2a74ef2cba050d8bede8a&amp;id=75958e6cd5&amp;e=471a5969ca\" target=\"_blank\" rel=\"noreferrer noopener\">www.costargroup.com<\/a>.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>SINGAPORE, 13 June 2024: Tokyo\u2019s hotel industry reported record-high average daily rate (ADR) and revenue per available room (RevPAR) in May, according to preliminary data from CoStar.&nbsp; CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.&nbsp; May 2024 (year-over-year % change) According to daily data, Tokyo\u2019s occupancy [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":231312,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4257,640],"tags":[],"class_list":{"0":"post-237438","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-asia-pacific","8":"category-hotels"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Tokyo&#039;s hotel performance peaks - TTR Weekly<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ttrweekly.com\/site\/2024\/06\/tokyo-hotel-performance-peaks\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tokyo&#039;s hotel performance peaks - TTR Weekly\" \/>\n<meta property=\"og:description\" content=\"SINGAPORE, 13 June 2024: Tokyo\u2019s hotel industry reported record-high average daily rate (ADR) and revenue per available room (RevPAR) in May, according to preliminary data from CoStar.&nbsp; 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