Originally Posted by freecia

The Shibazakura flower festival in Fuji Motosuko will open during that time frame
https://www.kyuhoshi.com/2016/02/17/...kura-festival/
I've been to a similar event in Hokkaido and it is a nice sight if you like flowers.

You will probably want to avoid Golden Week which starts in late April if you can
http://www.japan-guide.com/e/e2282.html
If you can't, be sure to book lodgings in resort destinations early. There will be a lot of people traveling around those days. If you are traveling solo, you'll also find that ryokan and resorts will be geared towards couples & families and possibly not accepting solo bookings during that time. Saturday nights usually have the same restrictions.

Originally Posted by jib71

Would you consider renting a car? Car rental would enable you to go off the beaten track around the five lakes. I think if you're there five days, it's worth considering.

Originally Posted by AlwaysAisle

For local Japanese, one important aspect is Onsen, public bath with natural hot spring. There happen to be more than abundant Onsen in Hakone area where Fuji Five Lake region is not known for Onsen with minimal hot spring. This is the reason Hakone area is more popular overnight lodging destination than Fuji Five Lake region for local Japanese.

If you can care less about Onsen, then I think it is a draw between Hakone and Fuji Five Lake region for lodging choices. Hakone is more mountain hilly area, where Fuji Five Lake region is right at the foot step of Mt. Fuji and more of wide open flat area. Both are beautiful places.

Because Hakone is more popular overnight lodging destination than Fuji Five Lake region for local Japanese, it is true that Hakone will have far more lodging choices than Fuji Five Lake region.