{"id":24306,"date":"2024-03-16T08:58:07","date_gmt":"2024-03-16T12:58:07","guid":{"rendered":"https:\/\/newssprinters.com\/index.php\/world\/how-this-ceo-built-an-iconic-japanese-hotel-brand\/16\/03\/2024\/"},"modified":"2024-03-16T08:58:07","modified_gmt":"2024-03-16T12:58:07","slug":"how-this-ceo-built-an-iconic-japanese-hotel-brand","status":"publish","type":"post","link":"https:\/\/newssprinters.com\/index.php\/world\/how-this-ceo-built-an-iconic-japanese-hotel-brand\/16\/03\/2024\/","title":{"rendered":"How This CEO Built an Iconic Japanese Hotel Brand"},"content":{"rendered":"

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Source: Hoshino Resorts.<\/figcaption><\/p>\n<\/figure>\n

Hoshino Resorts<\/a> is small but punches above its weight. It only has 68 hotels, but several of them regularly top the most-recommended lists of Conde Nast Traveler and Travel + Leisure.<\/p>\n

The 110-year-old company began with traditional inns. Since becoming its CEO in 1991, CEO Yoshiharu Hoshino has led the business in championing Japanese hospitality against a rising sea of sameness from global brands.<\/p>\n

The group has grown its property count by 74% since 2019. It has another 11 in the pipeline. Notably, it\u2019s developing hotels nationwide, not just the best-known tourism centers.<\/p>\n

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\"Yoshiharu\"Yoshiharu<\/a><\/div>\n<\/div>\n<\/div>\n

Yoshiharu Hoshino, the CEO of Hoshino Resorts<\/figcaption><\/p>\n<\/figure>\n

Hoshino Resorts\u2019 notable brand power<\/h3>\n

The brand\u2019s strength is revealed in that \u201c60% to 70%\u201d of the Hoshino-branded reservations come directly through its website, a share of direct distribution exceeding that of the global hotel groups.<\/p>\n

\u201cOne reason we\u2019ve worked so hard to have this large brand awareness is to boost our flow of direct bookings because that is one of the important sources of profitability,\u201d Hoshino said.<\/p>\n

Hoshino Resorts\u2019 rising status as an iconic national brand is one reason its CEO was named Japan\u2019s\u00a0\u201cmaster entrepreneur of the year\u201d<\/a>\u00a0in 2022 by the consulting firm EY.<\/p>\n

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Rapid portfolio growth<\/h3>\n

Hoshino made opportunistic moves during the pandemic. The crisis caused distress for many hotel operators and investors, who sought Hoshino Resorts to either take over the management or ownership of their properties. The company saw a once-in-a-generation chance to claim desirable locations at discounted prices.<\/p>\n

In 2019, the company had 3,074 rooms. It has added 4,010 rooms since then.<\/p>\n

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a guest room with an onsen hoshino resorts the kai matsumoto resort in japan source hoshino resorts<\/figcaption><\/p>\n<\/figure>\n

Supporting national tourism<\/h3>\n

Hoshino Resorts has a long-term strategy of spreading out its footprint nationwide.<\/p>\n

\u201cIn cities and prefectures across the country, manufacturing used to be the main industry,\u201d Hoshino said. \u201cBut we expect tourism to become much more important in the coming years.\u201d<\/p>\n

Hoshino\u2019s strategy sometimes involves jointly developing projects with the Development Bank of Japan. With 10 hotel projects so far, collaboration has provided \u201crisk money\u201d to support revitalization.<\/p>\n