Yoshiharu Hoshino, CEO of Hoshino Resorts, which operates 62 properties in Japan and overseas under the brand names of HOSHINOYA, KAI, RISONARE, OMO, and BEB, was named the Master Entrepreneur of the Year in "EY Entrepreneur of the Year 2022 Japan" awarded to entrepreneurs of companies with global influence. He has also been selected to represent Japan in 2022 and will participate in the EY World Entrepreneur of the Year in Monaco next year. The award system honors the founders or executives of companies based on their entrepreneurial spirit, business strategy and growth, and social and economic influence from more than 145 cities in approximately 60 countries around the world.
What is EY Entrepreneur of the Year?
EY Entrepreneur of the Year is an international award system that recognizes the efforts and achievements of entrepreneurs who are taking on new business areas. Established ahead of the rest of the world, it honors entrepreneurs who have established dynamic businesses and continue to grow, through a global awards system in more than 145 cities in nearly 60 countries. In Japan, the "EY Entrepreneur of the Year Japan" awards program has been in operation since 2001, and this year marks the 22-year anniversary of the program.
Criteria for selecting the EY Entrepreneur of the Year
The Master Entrepreneur of the Year category is given to entrepreneurs whose business activities are conducted overseas, who have global influence, and whose competitive advantage, technological capabilities, and marketing capabilities of their business models attract attention in Japan and overseas. There are four selection criteria:
・“Entrepreneurial spirit” evaluates the belief and leadership that leads to success
・"Purpose" assesses strategies for creating and realizing long-term value
・"Growth" assesses strategies and future plans for realizing a vision for the business and differentiating it
・"Influence" assesses the social and economic impact at domestic and international levels
The Past and Present of Hoshino Resorts
Hoshino Resorts was founded in 1914 with the first Hoshino Onsen Ryokan in Karuizawa and now operates 62 properties in Japan and overseas. With the oversupply of resort hotels created during the bubble economy in the 1990s, the company made its corporate vision "Master of Resort Management" and was one of the first in the Japanese tourism industry to adopt a strategy of specialization in management that separated hotel ownership from hotel management. Based on Yoshiharu Hoshino’s studies at Cornell University, the company developed a "flat organizational culture" and brand strategy and now operates five sub-brands. In 2013, the development of Hoshino Resorts REIT created an environment for individual investors to invest in the tourism industry. The following year, Hoshino Resorts began managing its first overseas project and is currently operating 4 properties oversea. On the horizon, Hoshino Resorts will open RISONARE Guam (2023) and has a goal of expanding the hot spring ryokan into North America.
About EY Japan
EY Japan is the collective name for EY's member firms in Japan. They include EY ShinNihon LLC, EY Tax Co., EY Strategy and Consulting Co, Ltd, etc. Each member firm is a legally independent corporation. For more information, visit https://www.ey.com/en_jp
About Hoshino Resorts
Hoshino Resorts was first established as a Japanese inn/ryokan in 1914 in Karuizawa in Nagano Prefecture before it began the operation of other resorts in Japan. Today, it has evolved into a highly influential hotel management company and is run by 4th-generation family member Yoshiharu Hoshino. Providing a unique experience focused on the local charms of each destination and a high level of omotenashi, Japanese-style hospitality, the company has expanded rapidly out of Karuizawa since 2001 and now operates more than 40 accommodations both in and outside Japan with one of the following categories: luxury hotel brand "HOSHINOYA," hot spring ryokan brand "KAI," countryside resort hotel brand "RISONARE," city tourism hotel brand "OMO," free-spirited hotel brand "BEB," or other unique lodgings.
Profile of Yoshiharu Hoshino, CEO of Hoshino Resorts
Born in Karuizawa, Nagano Prefecture, in 1960. In 1983, he graduated from the Department of Economics at Keio University. He then completed a Master's degree from Cornell University's Graduate School of Hotel Management. In 1991, he became the CEO of Hoshino Onsen Ryokan (now Hoshino Resorts). The company was one of the first in the Japanese tourism industry to adopt a strategy to specialize in operations and shift to a business model that provides operational services. In 2013, he launched Japan's first real estate investment trust (REIT) specializing in tourism, listing it on the Tokyo Stock Exchange as Hoshino Resorts REIT, Inc.
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