Want to stay in Tokyo during the Olympics next year? We might suggest, uh, checking out the prices first.
A report out from Nikkei Business this weekend found that many hotels — and we’re not talking about fancy ones here, either — are going for over 100,000 yen a night. That’s about $915 at current rates.
The report even found one Airbnb-style property that normally goes for 20,000 yen whose Olympic rate had been bumped to 450,000 — in other words, from $180 to over $4,000.
At present, the report says about 90% of the hotels on booking.com are booked for the start of the Olympics, leaving only Airbnb and other such services. But as the example above shows, the prices for those properties is out of control.
If you’re planning to visit Tokyo this coming summer, make sure to avoid the ‘pics, or you may find yourself shelling out some serious yen for lodging. Or you could always crash in a manga cafe…