Yamanashi’s lodging market has “two centers of gravity”: properties cluster on the northern foothills of Mt. Fuji, while the business hotels and onsen ryokan of the Kofu Basin carry much of the room count. Using MetroEngines Research’s municipality-level data, this article maps the distribution of properties, estimated settled ADR, 2026 new openings, October–November inventory absorption and the share of foreign-language guest reviews across Yamanashi’s 27 municipalities in a single map and set of tables. The bottom line: about 60% of properties sit in the five Fuji Hokuroku (northern Fuji foothills) municipalities, but they hold just under half of the rooms. Private vacation rentals account for three-quarters of new openings by count, yet only about 16% of new rooms. On pricing, both the Fuji Hokuroku area and the Kofu Basin are thin in upper-midscale rooms with an estimated settled ADR of ¥16,000–30,000 — and that is where the upside lies.

Yamanashi’s Lodging Supply Splits into Four Tiers

Among the properties tracked by MetroEngines Research, 1,042 properties with 18,002 rooms in Yamanashi had observed prices between October 2025 and September 2026. Grouped geographically into four tiers: Fuji Hokuroku (Fujikawaguchiko, Yamanakako, Fujiyoshida, Narusawa and Oshino) has 633 properties / 8,703 rooms; the Kofu Basin (Kofu, Fuefuki, Kai, Yamanashi City, Koshu, Minami-Alps, Nirasaki, Showa and Chuo) has 178 properties / 6,604 rooms; the Southern Yatsugatake foothills (Hokuto) have 153 properties / 1,556 rooms; and Kyonan, Otsuki and others (Minobu, Tsuru, Doshi, Otsuki, etc.) have 78 properties / 1,139 rooms.

By property count, Fuji Hokuroku accounts for 60.7%, matching Yamanashi’s image as “the Mt. Fuji prefecture.” By room count, however, Fuji Hokuroku’s share falls to 48.3%, while the Kofu Basin rises to 36.7%. The average property has 13.7 rooms in Fuji Hokuroku versus 37.1 in the Kofu Basin — 2.7 times larger. In other words, Fuji Hokuroku is a “cluster of small units” made up of many pensions, vacation rentals and small ryokan, whereas the Kofu Basin is a “cluster of large units” where station-front business hotels and the large ryokan of Isawa Onsen carry the room count.

Circle size = number of properties; color = regional tier. Click a circle to see properties, rooms and the October 2026 estimated settled ADR. Coverage: 1,042 properties / 18,002 rooms (properties with price observations in the past 12 months)
Source: MetroEngines Research; compiled by HotelBank Editorial Team

Source: MetroEngines Research; compiled by HotelBank Editorial Team (N=1,042 properties / 18,002 rooms with price observations, Oct 2025–Sep 2026)

Breaking the data down by property type makes the structure even clearer. Prefecture-wide, vacation rentals and cottages are the most numerous at 335 properties, but they hold only 1,049 rooms (5.8%). By contrast, business hotels number just 72 (6.9%) yet supply 5,430 rooms (30.2%), and ryokan supply 4,953 rooms (27.5%) across 177 properties. Within Fuji Hokuroku alone, vacation rentals and cottages account for 256 properties — 40% of the tier — but only 700 rooms, or 8.0%. When estimating an area’s accommodation capacity, it is worth remembering that “many properties” does not mean “many rooms.”

Source: MetroEngines Research; compiled by HotelBank Editorial Team (N=1,042 properties / 18,002 rooms). “Other” includes hostels, glamping, simple lodgings, etc.

Estimated Settled ADR by Municipality — Fuji Hokuroku’s Core at ¥16,000+

Next, we overlay a map of rates. The estimated settled ADR for October 2026 (an estimate based on listed price levels at the time of the survey) is ¥13,000 for Yamanashi as a whole (295 properties). By municipality, Fujiyoshida at ¥16,900 (18 properties) and Fujikawaguchiko at ¥16,600 (72 properties) sit nearly 30% above the prefectural level, followed by Fuefuki at ¥14,100 (48), Yamanashi City at ¥14,000 (5) and Hokuto at ¥13,700 (23). Kofu is ¥11,200 (35 properties) and Yamanakako ¥11,300 (31 properties).

One reason Yamanakako comes out below Fujikawaguchiko is that estimated settled ADR covers only the five hotel and ryokan segments. Of Yamanakako’s 189 listed properties, only 31 are covered; most of the rest are pensions, vacation rentals and other excluded types. Yamanakako’s figure therefore reflects “the typical level of hotels and ryokan in the village,” not lodging rates across the village as a whole. The same applies to Hokuto (159 listed, 23 covered).

Only municipalities with 5 or more properties covered by estimated settled ADR are shown. October 2026 is an estimate based on listed price levels at the time of the survey (September 22, 2026)
Source: MetroEngines Research; compiled by HotelBank Editorial Team

Listed properties and covered properties are October 2026 values; the scope differs from the map and regional-tier totals (properties with price observations in the past 12 months). August 2026 is a closed month; October is an estimate based on listed price levels at the time of the survey. *For Yamanakako, the number of properties covered by estimated settled ADR rose from 24 a year earlier to 31, so YoY is not shown because it is heavily affected by the change in composition
Source: MetroEngines Research; compiled by HotelBank Editorial Team

Towns and villages with fewer than five covered properties are treated as reference only. October 2026 estimates include Oshino ¥9,400 (4 properties), Narusawa ¥10,700 (4), Koshu ¥17,800 (4), Otsuki ¥24,500 (2), Kosuge ¥46,600 (2), Hayakawa ¥45,100 (1) and Nishikatsura ¥39,800 (1). With only one to four properties, these figures simply reflect individual properties’ price points, so we do not use them to compare municipalities. Ichikawamisato has no properties covered by estimated settled ADR in October.

Listed prices (all-plan average) come to ¥33,800 prefecture-wide, about 2.6 times the estimated settled ADR. The multiple is 1.5x in Kofu, 2.1x in Fujiyoshida, 2.2x in Hokuto, 2.5x in Fujikawaguchiko, 2.6x in Fuefuki and 2.6x in Yamanakako — the more a destination offers dinner-and-breakfast plans and rooms for larger groups, the higher its listed prices run. In Yamanashi’s case, the gap is best read as reflecting a product mix of meal-inclusive, multi-guest offerings rather than rates that are expensive.

Prefecture-Wide Monthly Trend — Up in Winter and Spring, Flat to Slightly Down in Summer

Overlaying Yamanashi’s estimated settled ADR year by year, the seasonal shape with an August peak has not changed since 2024. In 2026, January rose +15.1% YoY, February +3.4% and March +3.1%, while summer came in slightly below the prior year, with July at -6.4% and August at -3.3%. Estimates from September onward (based on listed price levels at the time of the survey) put October at ¥13,000 and November at ¥13,600, above the same months last year, while December at ¥13,600 is roughly flat (closed and estimated months are calculated on different bases, so comparisons are for reference).

Yamanashi, all segments (the five segments covered by estimated settled ADR). September–December 2026 are estimates based on listed price levels at the time of the survey (dashed line). 253–308 properties covered each month
Source: MetroEngines Research; compiled by HotelBank Editorial Team

By segment, October 2026 estimates are ¥21,000 for resort hotels (59 properties), ¥13,200 for ryokan (161) and ¥11,300 for business hotels (72). Business hotels are up from ¥7,800 in October last year, and together with Kofu’s October estimate of ¥11,200 (¥7,400 a year earlier), this suggests the Kofu Basin’s limited-service hotels are starting to capture autumn leisure demand.

60 New Openings in 2026, 8th in Japan — Three-Quarters Are Vacation Rentals

MetroEngines Research confirmed 1,592 new openings nationwide in 2026 based on OTA listings. Yamanashi had 60, ranking 8th after Hokkaido, Tokyo, Okinawa, Shizuoka, Kyoto, Nagano and Fukuoka. Nationally, vacation rentals account for 773 openings, or 48.6%; in Yamanashi the share is even higher, at 46 properties or 76.7%. Openings of Mt. Fuji-view private rentals and small themed villas — dog-friendly, with saunas and so on — have followed one after another.

Recount by rooms, however, and the picture changes completely. Yamanashi’s 60 openings in 2026 total 449 rooms, of which the 46 vacation rentals account for just 72 (16.0%). By contrast, three resort hotels provide 181 rooms (40.3%) and two business hotels 94 rooms (20.9%); in all, nine hotels, ryokan, hostels and glamping sites supply 358 rooms (79.7%). Leading examples are LiVEMAX RESORT Isawa Onsen (リブマックスリゾート石和温泉, 136 rooms) in Fuefuki, Hotel Fuji Torii Gate (ホテル富士トリイゲート, 54 rooms) and HOTEL R9 The Yard Minami-Alps (40 rooms). It is a two-layer structure: vacation rentals drive the headline count, while hotels provide the actual rooms.

*Based on confirmed OTA listings. Listings appear several months before opening, so recent and upcoming months may increase as more listings appear (as of September 22, 2026)
Source: MetroEngines Research & Consulting (based on confirmed OTA listings, N=60 properties / 449 rooms)

The growth in private rentals broadens capacity for demand that standard hotel rooms struggle to capture — groups, families and long stays. Still, it is the hotels and ryokan that actually lift the region’s room capacity, so capacity on peak days in Fuji Hokuroku needs to be built up by room count, not property count.

October–November Inventory Absorption — Autumn Weekdays Fill Earlier

We examine inventory absorption for October–November, when Mt. Fuji views coincide with autumn foliage, using estimated OCC at 45 days before the stay date (LT45). Aligning on the same lead time lets us compare how early each stay date fills. The panel consists of properties listing at least 30% of their total rooms on OTAs; for October this is 402–410 properties with 10,217–10,336 rooms (based on listings on major booking sites).

Across October’s 31 stay dates, average LT45 estimated OCC is 74.1% for resort hotels, 66.8% for ryokan and 60.1% for business hotels. The key point is weekdays (Monday–Thursday, excluding holidays): compared with weekdays from September 8–30, resort hotels rose from 65.2% to 71.6% (+6.4pt), ryokan from 55.0% to 64.2% (+9.2pt) and business hotels from 50.2% to 56.0% (+5.8pt) — all three segments are up. Saturdays sit in the 71–79% range in every month with little difference, so autumn demand in Yamanashi deepens through “earlier weekday bookings” rather than a “weekend uplift.”

Average estimated OCC at LT45 (based on OTA-listed inventory). Weekdays = Monday–Thursday (excluding holidays). Coverage: September = 393–410 properties / 10,181–10,437 rooms; October = 402–410 properties / 10,217–10,336 rooms; November 1–5 = 405–408 properties / 10,279–10,319 rooms (based on listings on major booking sites). By segment: 30–32 resort, 90–95 ryokan, 42–46 business hotel properties
Source: MetroEngines Research; compiled by HotelBank Editorial Team

Day by day, resort hotels hold at 75–87% at LT45 for the ten days from Friday, October 16 to Sunday, October 25, reaching 86.7% on Friday, October 23. Lakeside and highland resorts are clearly selling through first in the run-up to peak foliage. For November 1–5 (reference, 5 days), resort hotels also average a high 76.4%. According to the Fujikawaguchiko Town tourism website, the Fujikawaguchiko Autumn Leaves Festival runs from Saturday, November 7 to Sunday, November 29; those stay dates have not yet reached LT45 and are not included in this analysis.

Estimated OCC at LT45 by stay date (based on OTA-listed inventory). Same coverage as the chart above. No observations earlier than LT45 are used. Stay dates 30+ days out are still booking and do not indicate final occupancy
Source: MetroEngines Research; compiled by HotelBank Editorial Team

Differences between segments over the Obon period are covered in detail in our comparison of Yamanashi’s Obon booking curves by property type.

One-Third of Fuji Hokuroku Reviews Are in Foreign Languages

According to the Japan Tourism Agency’s Overnight Travel Statistics Survey (2025 final figures), Yamanashi recorded 9.936 million guest nights, of which 2.751 million were foreign guest nights — a foreign share of 27.7%, in line with the national figure (27.2%). Once the prefecture is split into regional tiers, however, inbound demand turns out to be highly concentrated.

Of the 74,389 reviews across 933 properties in Yamanashi compiled by the HotelBank Editorial Team, 16,397 (22.0%) are in foreign languages. In Fuji Hokuroku the figure is 13,732 of 41,067, or 33.4%, with Fujikawaguchiko alone at 38.4% and Fujiyoshida at 30.3%. By contrast, the Kofu Basin is at 8.7%, Southern Yatsugatake at 6.0% and Kyonan, Otsuki and others at 7.8%. The language mix of reviews confirms that Fuji Hokuroku absorbs most of the prefecture’s foreign overnight stays.

Foreign-language review share (based on language detection, aggregated as of September 2026). N = Fuji Hokuroku 555 properties / 41,067 reviews; Kofu Basin 169 / 22,097; Southern Yatsugatake 141 / 6,656; Kyonan, Otsuki & others 68 / 4,569
Source: HotelBank Editorial Team research

What guests value also differs by language. Analyzing Yamanashi reviews over the past 24 months (October 2024–September 2026), mentions of the view from the room appear in 13.0% of Japanese reviews (118,569), versus 35.1% of English reviews (27,449), 42.8% of Traditional Chinese reviews (5,391) and 36.0% of Thai reviews (1,606). The most frequent topic in Japanese reviews is food (23.2%), suggesting domestic guests value the “food” while inbound guests value “a room with a view of Mt. Fuji.” Making the room view explicit in product names and room types is a particularly effective lever in Fuji Hokuroku, where inbound guests are numerous.

White Space in the Price Ladder — Rooms at ¥16,000–30,000 Are Thin

Finally, we took the 276 properties / 12,536 rooms in segments covered by estimated settled ADR (hotels and ryokan) that have estimates for at least six of the past 12 months, and assigned each to a price band by the median of its monthly estimated settled ADR. On a room basis, Fuji Hokuroku concentrates 31.3% of rooms in the ¥8,000–12,000 band and 18.5% in ¥12,000–16,000, while ¥16,000–20,000 accounts for 9.0% and ¥20,000–30,000 for 10.9% — upper-midscale rooms total only about 20%. Rooms at ¥50,000 and above are scarcer still, at 2.3%.

The Kofu Basin skews lower: rooms under ¥12,000 make up 70.2%, and those at ¥16,000 and above only 16.1%. That is because Isawa Onsen’s ryokan and business hotels around Kofu Station supply most of the rooms. Put the other way round, the Kofu Basin — where autumn weekday absorption is improving and business hotels’ October estimate is up on last year — has room to build out higher-priced products.

Coverage: 276 properties / 12,536 rooms in segments covered by estimated settled ADR with estimates for at least 6 months between October 2025 and September 2026, classified by the median of each property’s monthly estimated settled ADR. Southern Yatsugatake and Kyonan, Otsuki & others have few properties, so figures are for reference
Source: MetroEngines Research; compiled by HotelBank Editorial Team

In Fuji Hokuroku, foreign-language reviews make up a third of the total and views are rated especially highly. Resort hotels have sold through more than 70% of inventory at LT45 even on autumn weekdays. Yet only about 20% of rooms fall in the ¥16,000–30,000 band, and while new vacation-rental openings are numerous, they add only about 16% of new rooms. “Mid-sized upper-midscale rooms with a view of Mt. Fuji” are the prefecture’s clearest white space — the demand-side conditions are in place, but supply is thin.

Conclusion

Yamanashi’s hotel market is centered on Fuji Hokuroku alone when measured by property count, but has two poles — Fuji Hokuroku and the Kofu Basin — when measured by rooms. The 60 openings in 2026 put it 8th in Japan, but three-quarters are vacation rentals, and nearly 80% of new rooms come from nine hotels, ryokan and similar properties. In October, weekday inventory is selling through faster than in September across all three segments, and autumn demand is spreading from weekends into weekdays.

The price-band map reveals two areas of upside: the ¥16,000–30,000 estimated settled ADR band in Fuji Hokuroku, and the ¥16,000-and-above band in the Kofu Basin. The former ties naturally to inbound guests’ demand for views, the latter to the broadening of autumn weekday demand. Rereading the map by rooms rather than property count, and by the depth of each price band rather than average rate, is the starting point for Yamanashi’s next move.

Frequently Asked Questions

Q. Which municipality in Yamanashi has the most hotels and lodging properties?
A. According to MetroEngines Research (properties with price observations in the past 12 months), Fujikawaguchiko has the most, with 349 properties and 4,858 rooms, followed by Yamanakako (180 properties) and Hokuto (153). By room count, Kofu (2,768 rooms) and Fuefuki (2,373 rooms) rank next after Fujikawaguchiko.

Q. What is the average hotel rate (ADR) in Yamanashi?
A. The estimated settled ADR for October 2026 (an estimate based on listed price levels at the time of the survey) is about ¥13,000 prefecture-wide. It is about ¥16,900 in Fujiyoshida, about ¥16,600 in Fujikawaguchiko and about ¥11,200 in Kofu.

Q. How many new lodging properties opened in Yamanashi in 2026?
A. 60 properties (449 rooms) based on confirmed OTA listings, ranking 8th in Japan. Of these, 46 are vacation rentals, but by room count nine hotels, ryokan and similar properties account for 358 rooms — nearly 80%.

Q. What share of Yamanashi’s overnight guests are foreign?
A. 27.7% of guest nights, according to the Japan Tourism Agency’s 2025 final figures. By review language, Fuji Hokuroku’s foreign-language review share of 33.4% far exceeds that of the Kofu Basin (8.7%) and Southern Yatsugatake (6.0%).

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