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| Above, the Wako Department Store at Ginza Crossing. Photo by Armand Vaquer. |
Foreign tourism is still in limbo as the Japanese government currently has "no plans" to reopen Japan.
However, that won't last forever (even it now seems like forever that the country has been closed off) and hoteliers are betting that once Japan does reopen, accommodations will be in high demand.
Japan's Hulic is to build a luxury ryokan in the Ginza shopping district of Tokyo.
According to Nikkei Asia:
TOKYO -- Japanese property developer Hulic will open a luxury ryokan -- a traditional Japanese inn -- in Tokyo's Ginza district in 2025, the latest sign that companies are betting on a strong rebound in travel demand as governments around the world relax COVID-19 restrictions.
The most expensive room at the inn will go for about 300,000 yen ($2,426) per night.
Development of lodging facilities is picking up steam globally, with investment in 2022 expected to be 40% higher than last year, rising to levels last seen in 2015, which saw record investment. Major projects in Japan include reconstruction of the iconic Imperial Hotel in Tokyo.
Hulic's ryokan is tentatively named Fufu Tokyo Ginza. The company will spend 20 billion yen to convert an office building on a main street in the upscale district into a 12-story complex. Six of the upper floors will become a 38-room ryokan. It will be Hulic's 13th luxury Japanese-style inn.
It is doubtful that once the Fufu Tokyo Ginza opens, your average Godzilla fan would not be able to afford staying there. But, you never know.
To read more, go here.
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