The construction of the Ritz-Carlton is set to begin next year. The hotel will have 140 rooms, restaurants and a spa. It will be located by the Kamo River, near downtown Kyoto.
Four Seasons plans to open a 200-room hotel with a spa.
Kyoto Convention Bureau international marketing manager James Kent said: "As the country recovers from the disaster caused by the tsunami and the earthquake, Japan will be at the centre of global conferences and events, and Kyoto is looking forward to hosting them."