The Yaesu Fujiya Hotel by Tokyo Station will close at the end of March 2014 as the Kokusai Kogyo Group plan to sell the building and land to Sumitomo Realty & Development in April.
Sumitomo are expected to demolish the hotel and redevelop the site into an office building.
The 377-room hotel was opened in 1983. It is walking distance to Tokyo Station, the Marunouchi business district and Ginza, so it has been popular with businesspeople and sightseers. Occupancy rates have been hovering around 90%. The hotel’s 200 staff will be transferred to other hotels in Yamagata and Kanagawa.
Source: The Nikkei Shimbun, October 8, 2013.