Tourism boom drives Japan to turn offices into hotels
Visitor arrivals set to beat last year's record; influx squeezes accommodation supply
Tokyo
RECORD tourists to Japan are stretching the ability of hotels to accommodate them in a sector constrained by high costs, forcing developers to think out of the box for means to quickly increase lodging options without breaking the bank. Japan is on target this year to beat the record 13.4 million visitors in 2014, helped by a weak yen and easier visa requirements for some Asian countries. The government is aiming to attract 20 million visitors by 2020, when Tokyo hosts the Olympics, to revitalise the world's third-biggest economy.
The rising influx of tourists is already squeezing existing accommodation supply in Tokyo, which has about 100,000 hotel rooms. Just 7,600 rooms are scheduled to be added in the next three years, according to STR Global, a research firm for the hotel industry.
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