Key points
- We do not list properties. This page gives you the official numbers and the legal checks to run before you look at any onsen hotel, ryokan or small hotel for sale. Listings are on specialist portals (REYADO, urihotel.jp) and with the brokers below.
- Occupancy is the first number. Nationally, ryokan ran at 39.2% room occupancy over Jul 2025 – Jun 2026 against 57.3% for resort hotels (Japan Tourism Agency). Averages hide a wide spread by prefecture and season.
- Foreign guests are 27% of all guest-nights nationally, +49% versus 2019, but the mix differs sharply by region: Kyoto and Kanagawa lean American, Oita Korean, Hokkaido Taiwanese and Korean.
- The hotel licence can now be transferred in a business transfer, with prior approval from the prefecture (Hotel Business Act Article 3-2, in force 13 December 2023). The onsen permit usually cannot: under the Hot Spring Act it passes only on merger, split or inheritance, so a buyer normally applies anew. Confirm with the prefecture.
- No visa comes with the hotel. See Japan visa if you own property.
The numbers to check before you look at a listing
Japan's Overnight Travel Statistics Survey (Japan Tourism Agency) publishes monthly room occupancy by prefecture and accommodation type, total and foreign guest-nights, and foreign guests by nationality for larger establishments. Below are the twelve months to Jun 2026 for prefectures with well-known onsen areas; every prefecture is on our occupancy statistics page, updated monthly.
| Prefecture | Ryokan occupancy | vs 2019 | Resort hotel occupancy | Foreign guest-nights | vs 2019 | Foreign share | Top origins |
|---|---|---|---|---|---|---|---|
| Hokkaido | 45.5% | -4.7 pt | 50.9% | 12.6m | +43% | 28% | Taiwan 23%, South Korea 22% |
| Miyagi | 47.0% | +5.6 pt | 47.3% | 1.1m | +97% | 10% | Taiwan 44%, China 11% |
| Gunma | 45.7% | -0.5 pt | 48.8% | 0.4m | +36% | 4% | Taiwan 23%, China 12% |
| Kanagawa | 51.1% | -0.2 pt | 67.2% | 5.0m | +55% | 19% | United States 18%, China 18% |
| Ishikawa | 40.5% | -6.8 pt | 34.1% | 2.1m | +116% | 22% | Taiwan 18%, United States 11% |
| Nagano | 28.1% | -0.5 pt | 40.6% | 2.6m | +63% | 13% | Taiwan 20%, Australia 10% |
| Gifu | 45.2% | +1.7 pt | 48.1% | 2.0m | +18% | 25% | Taiwan 16%, China 12% |
| Shizuoka | 43.4% | -4.8 pt | 56.4% | 2.0m | -19% | 9% | China 29%, South Korea 12% |
| Kyoto | 44.9% | +0.8 pt | 54.6% | 16.8m | +40% | 54% | United States 16%, China 15% |
| Kagawa | 53.6% | +7.5 pt | 63.9% | 1.1m | +42% | 22% | Taiwan 40%, South Korea 21% |
| Ehime | 49.3% | +1.0 pt | 46.1% | 0.7m | +204% | 14% | South Korea 46%, Taiwan 24% |
| Oita | 41.6% | -1.8 pt | 58.9% | 1.5m | +28% | 20% | South Korea 38%, Taiwan 23% |
| Okinawa | 40.7% | +14.3 pt | 66.4% | 8.8m | +14% | 27% | Taiwan 35%, South Korea 18% |
How to read it: a ryokan average under 40% is normal in Japan, because many ryokan are small, family-run and closed for part of the week. A specific property should be compared with its own prefecture and type, not the national hotel average. The “vs 2019” columns show whether the area has recovered its pre-pandemic occupancy and foreign demand. Nationality shares are for larger establishments only (10+ staff to 2025, 20+ rooms from 2026).
Onsen and resort towns: occupancy from the municipal tables
Since January 2024 the survey also reports about 180 municipalities. The figures are the actual counts of the establishments that responded, so treat them as indicative; small towns move a lot from month to month. Twelve-month averages to Jun 2026:
| Town | Room occupancy, average | Foreign share of guests | Months available |
|---|---|---|---|
| Hakone | 69.5% | 29% | Jul 2025 – Jun 2026 (12 months) |
| Atami | 67.9% | 5% | Jul 2025 – Jun 2026 (12 months) |
| Kusatsu | 72.1% | 7% | Jul 2025 – Jun 2026 (12 months) |
| Beppu | 61.0% | 27% | Jul 2025 – Jun 2026 (12 months) |
| Takayama | 64.6% | 48% | Jul 2025 – Jun 2026 (12 months) |
| Kanazawa | 72.1% | 28% | Jul 2025 – Jun 2026 (12 months) |
| Hakuba | 33.5% | 36% | Jul 2025 – Jun 2026 (12 months) |
| Kutchan (Niseko) | 35.6% | 69% | Mar 2025 – Jun 2026 (12 months) |
| Nozawa Onsen | 16.5% | 44% | Jun 2025 – Jun 2026 (12 months) |
| Karuizawa | 52.9% | 21% | Jul 2025 – Jun 2026 (12 months) |
Ski towns (Kutchan, Hakuba, Nozawa Onsen) concentrate their year into January–March; an annual average understates the winter and overstates the summer. Compare Niseko vs Hakuba for the property side.
Hotel licence: taking over the seller's permit
Every ryokan or hotel operates under a licence from the prefectural governor (or a designated city) under the Hotel Business Act (旅館業法). Until 12 December 2023 the licence could pass to a new operator only by merger, split or inheritance; a buyer of the business had to apply from scratch and meet today's building and facility standards, often with a gap in operation.
The amendment in force from 13 December 2023 (Act No. 52 of 2023) added Article 3-2: when the seller and buyer of the business obtain the governor's approval before the transfer, the buyer succeeds to the licence. Disqualification grounds apply to the buyer, and the authority inspects the premises at least once within six months of succession. Prefectures publish the forms (Oita and Chiba are linked in the sources). If the deal closes before approval, there is no succession and the buyer applies anew.
In a share deal (buying the company that holds the licence) the licence stays with the company, but you also inherit its debts, staff contracts and any past compliance problems. The full comparison, the fire-safety and zoning checks and a due-diligence list are in buying a ryokan in Japan.
Onsen rights: what you are actually buying
- The source. Drilling (Article 3) and extraction (Article 14-2) permits under the Hot Spring Act (温泉法) attach to the well. Many hotels do not own a well but receive piped water from a municipal or cooperative source under a supply contract or a customary right (温泉権), which is often not on the land register. Ask for the contract, the share and the annual fee, and check whether the supply right can be assigned.
- The permit to offer baths to the public (Article 15, 温泉利用許可) is held by the operator. The Act provides for succession on merger or split (Article 16) and inheritance (Article 17) only; it has no provision for a business transfer, so on an asset deal the buyer applies for a new permit. Prefectures administer this; confirm the local procedure and timing with the prefecture's hot-spring section before signing.
- Local charges. Some municipalities charge on a change of supply-contract holder (Atami's hot-spring maintenance charge; Kusatsu's share contribution under its hot-spring use ordinance). Amounts are set locally; check the municipality.
- Water quality and temperature. Get the latest analysis certificate (温泉分析書, renewed every ten years) and the flow and temperature records; declining wells are a common reason for a sale.
What do they cost?
There is no official transaction series for hotels, so we do not publish price bands of our own. Asking prices on specialist portals ranged from the tens of millions of yen for a small regional ryokan to several hundred million for a working onsen hotel when we last sampled them (27 September 2026; see the ryokan guide for the snapshot and its limits). An asking price is not a value: what matters is the licence position, the onsen supply, the building's seismic standard (pre-1981 buildings are common) and whether the income supports the staff a ryokan needs.
Where to look: REYADO (specialist ryokan/hotel broker) and urihotel.jp (regional hotel and ryokan portal) carry most of the publicly advertised stock. Many sales never reach a portal; a licensed broker with hotel experience is the usual route.
FAQ
Can a foreigner buy an onsen hotel in Japan?
Yes. There is no nationality or residence condition on owning the land and building, and a foreign-owned company can hold the hotel licence. Non-residents file a Ministry of Finance report after buying. Owning the hotel does not provide a visa.
Does the hotel licence come with the building?
Not automatically. Since 13 December 2023 the buyer of the business can succeed to the licence if the seller and buyer obtain the prefecture's approval before the transfer. Without that approval, or in a pure property sale, the buyer applies for a new licence under current standards.
Do the onsen rights transfer with the sale?
The Hot Spring Act allows the bath-use permit to pass only on merger, split or inheritance, so a buyer of the assets normally applies for a new permit. Supply rights to piped hot water depend on the contract or local custom. Check both with the prefecture and the municipality.
What occupancy should a ryokan have?
Nationally ryokan averaged 39.2% room occupancy over Jul 2025 – Jun 2026; prefectures ranged from about 20% to over 50%. Compare a property with its own prefecture and type on our occupancy page, and ask for the property's own monthly figures for at least three years.
Buying in Japan and want it checked properly?
We introduce licensed Japanese brokers who work with overseas buyers and explain zone rules and filings. We are not a real estate broker or a law firm. We don't describe, recommend or negotiate properties, and we don't charge buyers. Brokers may pay us a referral fee.
Sources
- Japan Tourism Agency, Overnight Travel Statistics Survey (宿泊旅行統計調査), prefecture and municipal tables, data to Jun 2026 (12-month window Jul 2025 – Jun 2026): mlit.go.jp/kankocho; processed in our occupancy pages (data file generated 2026-10-05)
- Hotel Business Act (旅館業法), Article 3-2 succession on business transfer: laws.e-gov.go.jp
- Ministry of Health, Labour and Welfare, 2023 amendment of the Hotel Business Act (Act No. 52 of 2023, in force 13 December 2023): mhlw.go.jp; leaflet PDF
- Oita Prefecture, approval for succession on business transfer (procedure and forms): pref.oita.jp; Chiba Prefecture: pref.chiba.lg.jp
- Hot Spring Act (温泉法), Articles 3, 14-2, 15, 16, 17: laws.e-gov.go.jp
- Atami City, hot-spring supply contract name changes and maintenance charge: city.atami.lg.jp; Kusatsu Town hot-spring use ordinance: town.kusatsu.gunma.jp
- Listing portals named in the text (no prices reproduced here): reyado.jp; urihotel.jp
- Fact check for the licence and onsen sections: our ryokan guide review of 27 September 2026 (buying a ryokan in Japan)
Last reviewed: 7 October 2026. Statistics are the Japan Tourism Agency survey to Jun 2026 (the latest month is preliminary and may be revised). Legal points were checked against the e-Gov texts on 27 September 2026 and re-read on 7 October 2026.
Disclaimer. General information, not legal, immigration or tax advice. Japan House Prices is not a real estate broker (宅地建物取引業者), a law firm, an immigration lawyer (行政書士) or a tax adviser, and we do not prepare or handle visa applications. We may receive a referral fee from the broker; you pay nothing to us.