Some traditional ryokans in Japan that have been struggling to survive throughout the pandemic have been taken over by investors from China. — Photos: Pixabay
A once-faded Japanese honeymoon hot spot is getting a new lease on life thanks in part to Chinese investment, as industry insiders predict that more hot spring hotels will be the beneficiaries of an exodus of money from China.
The abandoned Tsuruya Ryokan, a former luxury inn occupying a prime location in the town of Atami 90km from Tokyo, was once a magnet for vacationers thanks to its ocean views and hot springs. As Japan’s economy sputtered and honeymooners opted for other locations such as Hawaii in the United States, the hotel became a symbol of Atami’s fading fortunes.
