The decision to bar spectators from the Tokyo Olympics is set to impact Japan’s hotel industry. Expect more than a million cancelled reservations, Bloomberg reports. Remember, 30% of ticket holders for the games come from outside the greater Tokyo area, as indicated by Olympic minister Seiko Hashimoto, and each of them would stay at least one night in a hotel. It’s a major setback for Japan’s hotel industry that bet big on the Games serving as a catalyst for Japan’s goal of attracting 40 million overseas visitors a year. “The priority will be to determine safe and secure Games,” Tokyo 2020 president Seiko Hashimoto said at a news conference recently.
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