TOKYO, Dec 8, 2010 (Asia In Focus via COMTEX) --
Japanese hotel operators are seeing slower-than-expected earnings recoveries, as they are forced to slash room rates to lure frugal leisure and business travelers. FUJITA KANKO INC. (TSE:9722) has downgraded its group operating profit forecast for the year to December to 2.4 billion yen (US$28.7 million), up 74 per cent on the year, instead of a 130 per cent jump to 3.2 billion yen.
* Occupancy rates improved in the July-September term, but average guest spending declined 7-8 per cent.
* "To raise occupancy rates amid weak consumption, we had to cut prices," says a finance official.
http://www.tradingmarkets.com/news/stock-alert/ftkkf_japan-hotel-operators-see-slower-than-expected-earnings-recovery-1354358.html
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