Japan's Hotel Okura plans to open a luxury hotel in Shanghai in 2024, seeking to tap into growing Chinese interest in high-end accommodations.
The Japanese hotelier's overseas expansion so far has focused on cities with a large Japanese corporate presence, such as Beijing and Bangkok. But business travel may never fully recover to pre-pandemic levels. This has led the company to focus on sites that can draw on local demand to ensure a certain level of occupancy while also providing an opportunity to burnish its image as an international brand.
The group operates 25 sites outside Japan under such brands as Okura and Nikko. It plans to expand to 39 overseas locations by 2024, including three in China to bring its total in the country to 13.
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