Most tourists skip this Japanese town. This S’porean just spent 7 figures opening a hotel there.
Ray Hoe is betting on the small Japanese town of Toyama for his first hotel project For some Singaporeans who make money in the stock market, a second property is the next move. Ray Hoe did too—just not one here. The 41-year-old channelled his gains into a 77-year-old ryokan in Toyama, a small city on […]
Ray Hoe, a Singaporean with no hospitality experience, zero Japanese language skills, and an unfamiliarity with Toyama, decided to invest seven figures in a 77-year-old ryokan in the small Japanese coastal town. The 41-year-old, who spent years working in commercial real estate, had never visited Toyama before acquiring the property.
Despite lacking familiarity with the town, Ray saw potential in the region's untouched nature, unique cuisine, and its inclusion in Japan's government plan to spread tourism beyond major cities. The ryokan, which underwent a renovation in 2019 before the pandemic, was purchased using an equity loan against Ray's Singapore property and some savings.
Hooray Toyama, a boutique modern ryokan featuring a 10,000 sqft space, a commercial kitchen, a roof garden, two onsens, and 11 traditional rooms, is set to open in September 2026, aiming to provide a unique experience for visitors beyond Japan's crowded tourist destinations.
Written by urgent.news from Vulcan Post's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
