I had 12 nights booked at the Hilton in Tokyo, Nagoya and Osaka in April 2020 which of course had to be cancelled. In January this year I checked the price of equivalent stays this April and the total cost was 64% more than in 2020. I checked the price again today and this time 12 nights’ stays would cost 24% more than 3 years ago.

So hotel prices have come down in the last 6 weeks based on this small sample but only outside Tokyo. Two nights’ stay midweek in April 2023 at Tokyo Hilton will cost 2.5 times what it did or would have done in April 2020.