image credit: Pexels

STR Reports Tokyo Hotel Rates Reached a New Peak in May

June 12, 2024

Tokyo’s hotel industry reported record-high average daily rate (ADR) and revenue per available room (RevPAR) in May, according to preliminary data from CoStar.

May 2024 (year-over-year % change):

  • Occupancy: 78.4% (+4.2%)
  • ADR: JPY 37,671.27 (+44.0%)
  • RevPAR: JPY 29,529.07 (+50.0%)

According to daily data, Tokyo’s occupancy levels peaked on Saturday, 25 May (89.1%), helped by a number of music events held in Tokyo Dome. The market recorded its highest RevPAR levels on the same night, at JPY 38,913.89. Overall, Tokyo’s occupancy remained above the 70% mark throughout the month apart from five days.

Read More on Hotel News Resource