Originally Posted by
Pickles
There is? I guess you ought to tell the recently opened Conrad, FS, MO, and the soon-to-open RC and Pen that since there is a relatively greater supply in Tokyo, there is no need to open their new hotels.
As a corollary, luxury hotel prices have risen over the last couple of years, even though the supply of top-end hotels has actually increased substantially.
Just because there is a greater supply of luxury hotel rooms in Tokyo compared to New York doesn't mean that new luxury hotels cannot be opened in Tokyo and still make a reasonable profit.
Hotel prices in Tokyo may have risen in the past couple of years, though certainly not as much as they have in New York.