Asia
Star Asia Investment's Hotel Business Records 91% Average Occupancy Rate in April
Star Asia Investment (TYO:3468) average occupancy rate at its Japan hotels improved by 1% to 90.9% in April, according to a Friday Tokyo bourse filing.Average daily rate came in at 16,318 yen, down slightly or 0.3% on year, while revenue per available room was at 14,826 yen, up 0.8%.The cumulative performance for the fiscal period to April showed a higher average occupancy rate of 91.2%.The company, citing data from the Japan National Tourism Organization (JNTO), said inbound tourism to Japan reached 3.69 million, down 5.5% from a year ago, due to the Easter holiday timing shift.The performance was particularly strong in the Sapporo, Tohoku, and Fukuoka areas, driven by increased travel from Southeast Asian countries and enhanced promotional activities, despite travel restrictions from China.Additionally, the cumulative number of foreign visitors to Japan through April exceeded 14 million for the second consecutive year, with nine markets, including South Korea, Taiwan, and Vietnam, and France, recording their highest-ever visitor numbers for April.
TYO:3468