Posh hotels are scarce in Japan--and increasingly lucrative

WITH ITS cool modernist interiors and views of Tokyo's Imperial Palace, Hotel Okura has been the choice of the well-heeled since its gilded lobby was unveiled in 1962 as a symbol of Japan's emergence from post-war austerity. Taro Aso, the deputy prime minister, enjoys a late-night tipple at the bar. Yoko Ono takes a suite on her trips to the city. Every American president from Gerald Ford on, has graced its rooms. Donald Trump may well have done, too, had the Okura not been shut for refurbishmen...