
The weak economy and increased competition has claimed a high profile victim in Tokyo's hotel industry. Keikyu has just announced that it will be closing the 954-room Hotel Pacific Tokyo in September 2010. Located directly across the road from the Takanawa exit of Shinagawa Station, the Pacific opened in 1971 and was the first hotel operated by the railway group. Keikyu say it would now require extensive renovation to compete in a crowded market and they are better off redeveloping the entire site. The company will continue to run the Takanawa Keikyu Hotel just across the street, which opened in 1989, as well as the Grand Pacific in Odaiba, which opened in 1998. They claim employees will be used in their remaining hotels and do not expect job losses.