Japan hotel rates spike 25% as weak yen draws foreign tourists
TOKYO -- A flood of inbound tourists visiting Japan looking to take advantage of the weak yen has caused hotel room prices to spike to rarely seen heights, according to the latest industry data.
The average daily room rate in February stood at 18,915 yen ($124.68), up 25.5% from a year earlier, according to hotel industry tracker STR. Room rates have surpassed year-earlier figures for 26 consecutive months through February.
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