Japanese hotels filed 118 “bankruptcies”, up 57.35 percent from the previous year, and expects the hotel industry this year to worsen.
On January 14, 2021, the Japan Times news agency reported that Tokyo Shoko Research Ltd. said in 2020 Japan had 118 “bankruptcy” hotels, a 57.35 percent increase from the previous year (2019), the first time more than 100 hotels went bankrupt. Country since 2013, mainly due to the COVID-19 outbreak, which has hit the industry greatly.
The bankruptcy of hotel debt remained as much as 58 billion yen, and more medium and large companies went bankrupt.
Twelve of the bankrupt hotels are in Nagano, full of spas and ski resorts. In Tokyo there are 11 companies and 9 companies in Shizuoka city.
The research center said the situation would continue to worsen, especially those in the hotel industry. Meanwhile, the bankruptcy rate of businesses within the travel industry rose from 4% to 26%, the first time it increased in three years.
Read original news: Covid causes poisoning in Japanese hotels “bankruptcy” up 57%
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