AT THE recent Hotel Investment Conference Asia-Pacific, a moderator inadvertently mentioned in one of the breakout sessions that Hyatt Hotels & Resorts was going to have two new additions in Tokyo, to the dismay of Patrick Finn, the chain’s vice president real estate and development Asia-Pacific, who told us it’s not official yet.
The chain already operates four hotels in Tokyo, a Park Hyatt, a Hyatt Regency, a Grand Hyatt and an Andaz. Snagging one more, let alone two, indeed is no mean feat. No doubt it’s a lot due to its long, successful history in Japan, where it has 10 hotels in operation today.
Tokyo has been afflicted by a shortage of hotel rooms for some years, particularly at the higher end of the accommodation spectrum. The city is the dream of every development guy – visitor numbers are soaring, occupancies are high, 2020 Tokyo Olympic and Paralympic Games are a little over four years off. But land and labour costs keep Tokyo out of reach for most.
We also hear whispers that Four Seasons is scouting for possible locations in Tokyo.
The Four Seasons at Marunouchi opened in October 2002, but has a mere 57 rooms.
