"Japan’s hospitality industry has experienced encouraging recovery as domestic tourism approaches pre-pandemic levels. Japan is also expected to open its borders more to inbound tourists to capitalise on the weak yen and stabilise the trade balance. With the attention that the sector is generating, now might be the last chance to acquire assets for investors with capital and conviction for the sector."

"Serviced apartments have demonstrated relative operational resilience, and while this is supporting investor demand, the challenge remains access to stock, with platform acquisitions offering the best route to market"

"While domestic tourism has seen some recovery, times are tough for the hotel industry, with increasing bankruptcies and delayed recovery due to new variants. However, opportunistic investors still see this as a chance to enter or expand into the Japanese hotel market."

"Drawing on insights from our operator survey, we look beyond the headlines of the staff availability crisis facing the hotel sector"