Hotel Performance

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Domestic Hotels Total
2016/01 2016/02 2016/03 2016/04 2016/05 2016/06 2016/01～06
# of Properties (Note2) actual - 34(42) 34(42) 38(46) 38(46) 38(46) 39(48) 39(48)
Occupancy Rate actual (%) 85.4 90.8 90.5 91.1 89.8 89.9 89.6
ADR actual (JPY) 7,159 7,998 9,558 10,316 9,256 8,346 8,841
RevPAR actual (JPY) 6,111 7,265 8,647 9,394 8,313 7,505 7,924
Gross Revenue actual (JPY mn) 941 1,061 1,364 1,984 1,872 1,720 8,945
2016/07 2016/08 2016/09 2016/10 2016/11 2016/12 2016/07～12
# of Properties (Note2) actual - 39(48) 39(48) 39(48) 39(48) 39(48) 39(48) 39(48)
Occupancy Rate actual (%) 92.0 92.3 91.0 92.5 90.8 88.2 91.1
ADR actual (JPY) 9,744 10,901 9,231 9,916 9,983 9,754 9,935
RevPAR actual (JPY) 8,960 10,065 8,399 9,168 9,069 8,600 9,049
Gross Revenue actual (JPY mn) 1,956 2,297 1,925 2,193 2,065 1,970 12,536
  1. ADR and RevPAR are rounded to the nearest yen and Gross Revenue is rounded down to the indicated unit. Percentages are rounded to one decimal place.This applies hereinafter.
  2. # of properties shows the number of the hotels that are subject to the calculation for each month, and does not include the number of hotels under fixed rent contract. The number in the parenthesis shows the total number of hotels held by INV as of the end of the subject month, including the hotels under fixed rent contract. Please see the footnote of the individual hotels listed below to identify the hotels under fixed rent contract.

Individual Hotels

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2016/01 2016/02 2016/03 2016/04 2016/05 2016/06 2016/01～06
Occupancy Rate actual (%) 92.7 93.1 94.7 92.1 67.5 59.7 83.3
year-on-year (points) -0.2 -3.2 -0.5 -1.1 -28.0 -36.2 -11.5
ADR actual (JPY) 7,460 8,759 9,769 10,223 8,106 7,889 8,782
year-on-year (%) 5.7 7.1 9.3 -10.6 -9.4 -0.8 0.4
RevPAR actual (JPY) 6,915 8,155 9,249 9,414 5,474 4,707 7,313
year-on-year (%) 5.6 3.6 8.7 -11.7 -35.9 -38.3 -11.8
Gross Revenue actual (JPY mn) 27 29 36 35 21 17 168
year-on-year (%) 5.1 6.7 8.4 -11.7 -36.0 -38.5 -11.5
2016/07 2016/08 2016/09 2016/10 2016/11 2016/12 2016/07～12
Occupancy Rate actual (%) 62.7 68.6 92.1 96.9 97.8 95.3 85.5
year-on-year (points) -32.9 -23.5 -0.7 1.8 2.6 0.7 -8.8
ADR actual (JPY) 8,370 8,154 8,097 9,214 9,585 9,399 8,874
year-on-year (%) -7.5 -4.3 -9.2 -1.3 -2.7 5.0 -2.5
RevPAR actual (JPY) 5,250 5,594 7,454 8,927 9,377 8,953 7,584
year-on-year (%) -39.3 -28.7 -9.8 0.6 0.0 5.8 -11.6
Gross Revenue actual (JPY mn) 20 21 28 35 35 35 176
year-on-year (%) -39.5 -29.0 -9.8 0.7 0.0 6.0 -11.6
    (Note1) This property was acquired on May 23, 2014.
    (Note2) This property underwent a full renovation from May 20, 2016 to August 22, 2016.
2016/01 2016/02 2016/03 2016/04 2016/05 2016/06 2016/01～06
Occupancy Rate actual (%) 94.2 93.5 92.1 93.6 92.9 93.3 93.3
year-on-year (points) 1.5 -0.7 -2.5 -1.6 -2.8 -2.6 -1.4
ADR actual (JPY) 6,883 7,833 9,218 9,939 7,658 7,042 8,091
year-on-year (%) 15.6 9.5 12.7 -5.0 -2.0 4.1 4.7
RevPAR actual (JPY) 6,484 7,326 8,488 9,305 7,113 6,573 7,546
year-on-year (%) 17.4 8.6 9.8 -6.5 -4.8 1.3 3.1
Gross Revenue actual (JPY mn) 32 34 42 45 36 32 224
year-on-year (%) 16.0 11.9 9.4 -6.6 -4.9 0.9 3.3
2016/07 2016/08 2016/09 2016/10 2016/11 2016/12 2016/07～12
Occupancy Rate actual (%) 93.4 92.9 91.6 91.8 91.9 88.6 91.7
year-on-year (points) -2.6 -3.7 -3.7 -1.3 -2.6 -4.0 -3.0
ADR actual (JPY) 7,755 7,370 7,007 7,807 7,764 8,161 7,644
year-on-year (%) -3.5 -9.6 -15.6 -13.1 -12.3 -3.9 -9.7
RevPAR actual (JPY) 7,243 6,850 6,415 7,166 7,138 7,228 7,009
year-on-year (%) -6.1 -13.1 -18.9 -14.3 -14.7 -8.0 -12.6
Gross Revenue actual (JPY mn) 36 34 31 36 35 37 211
year-on-year (%) -5.8 -12.8 -18.3 -13.5 -14.3 -6.7 -11.9
    (Note) This property was acquired on May 23, 2014.
2016/01 2016/02 2016/03 2016/04 2016/05 2016/06 2016/01～06
Occupancy Rate actual (%) 93.0 91.4 94.9 89.3 92.1 93.7 92.4
year-on-year (points) -3.8 -5.2 -2.5 -7.3 -5.7 -4.5 -4.8
ADR actual (JPY) 9,025 11,471 18,401 24,040 15,085 11,775 14,931
year-on-year (%) 16.5 26.8 41.6 10.3 17.0 53.8 24.1
RevPAR actual (JPY) 8,389 10,489 17,468 21,475 13,886 11,034 13,799
year-on-year (%) 11.9 20.0 37.9 2.0 10.2 46.8 17.9
Gross Revenue actual (JPY mn) 59 70 124 146 98 74 575
year-on-year (%) 12.3 23.7 36.4 1.1 11.1 47.6 18.3
2016/07 2016/08 2016/09 2016/10 2016/11 2016/12 2016/07～12
Occupancy Rate actual (%) 89.9 94.5 91.2 90.6 88.9 84.6 89.9
year-on-year (points) -7.9 -4.1 -6.3 -6.3 -5.7 -10.4 -6.8
ADR actual (JPY) 13,836 12,573 12,850 16,920 23,372 13,422 15,443
year-on-year (%) 30.2 18.6 10.1 6.8 -10.3 4.6 6.5
RevPAR actual (JPY) 12,441 11,876 11,724 15,327 20,767 11,357 13,890
year-on-year (%) 19.7 13.7 3.0 -0.1 -15.7 -6.9 -1.0
Gross Revenue actual (JPY mn) 88 84 81 109 143 79 586
year-on-year (%) 17.8 13.3 3.7 -0.2 -15.4 -6.5 -0.9
    (Note) This property was acquired on July 17, 2014.
2016/01 2016/02 2016/03 2016/04 2016/05 2016/06 2016/01～06
Occupancy Rate actual (%) 95.2 93.4 94.0 96.5 95.4 95.6 95.0
year-on-year (points) 0.9 -3.1 2.2 1.4 1.2 1.6 0.7
ADR actual (JPY) 7,625 8,770 13,606 9,838 9,417 8,448 9,625
year-on-year (%) 5.3 7.4 8.1 8.2 -2.0 8.9 6.0
RevPAR actual (JPY) 7,261 8,191 12,786 9,497 8,979 8,075 9,146
year-on-year (%) 6.3 3.9 10.7 9.8 -0.8 10.8 6.8
Gross Revenue actual (JPY mn) 41 51 76 66 54 50 342
year-on-year (%) 5.1 14.5 7.3 11.8 -2.8 7.5 7.1
2016/07 2016/08 2016/09 2016/10 2016/11 2016/12 2016/07～12
Occupancy Rate actual (%) 93.9 93.2 93.5 93.4 94.8 90.5 93.2
year-on-year (points) -0.6 2.0 0.3 -0.4 1.7 -4.6 -0.3
ADR actual (JPY) 10,704 13,285 10,931 11,533 10,991 13,323 11,792
year-on-year (%) 13.1 2.7 -8.0 1.7 -5.7 11.0 2.2
RevPAR actual (JPY) 10,049 12,377 10,221 10,772 10,421 12,063 10,991
year-on-year (%) 12.4 4.9 -7.6 1.3 -4.0 5.7 1.9
Gross Revenue actual (JPY mn) 64 69 59 65 63 66 388
year-on-year (%) 12.0 1.3 -5.5 -1.3 -4.7 -3.1 -0.5
    (Note) This property was acquired on July 17, 2014.
2016/01 2016/02 2016/03 2016/04 2016/05 2016/06 2016/01～06
Occupancy Rate actual (%) 95.1 94.5 93.3 95.7 96.6 96.2 95.2
year-on-year (points) 4.4 -3.8 -1.8 1.2 1.8 -1.1 0.2
ADR actual (JPY) 13,230 14,920 21,721 17,529 15,607 13,934 16,154
year-on-year (%) 0.6 2.5 8.7 11.4 -1.6 13.5 5.7
RevPAR actual (JPY) 12,576 14,097 20,258 16,782 15,076 13,407 15,383
year-on-year (%) 5.5 -1.5 6.6 12.8 0.3 12.2 5.9
Gross Revenue actual (JPY mn) 36 38 58 46 43 37 261
year-on-year (%) 5.1 1.9 6.0 12.3 0.8 12.3 6.3
2016/07 2016/08 2016/09 2016/10 2016/11 2016/12 2016/07～12
Occupancy Rate actual (%) 95.4 96.4 94.6 89.4 93.6 88.1 92.9
year-on-year (points) 0.2 3.9 0.3 -5.7 -0.3 -6.9 -1.4
ADR actual (JPY) 17,878 21,763 17,571 18,886 18,109 20,918 19,193
year-on-year (%) 9.5 2.5 -4.6 -2.5 -4.9 6.5 1.0
RevPAR actual (JPY) 17,065 20,975 16,615 16,875 16,949 18,436 17,830
year-on-year (%) 9.7 6.9 -4.3 -8.3 -5.2 -1.2 -0.5
Gross Revenue actual (JPY mn) 49 61 45 49 47 53 306
year-on-year (%) 9.3 7.3 -5.1 -8.3 -3.8 -1.3 -0.4
    (Note) This property was acquired on July 17, 2014.
2016/01 2016/02 2016/03 2016/04 2016/05 2016/06 2016/01～06
Occupancy Rate actual (%) 84.1 90.1 94.6 93.3 85.0 85.4 88.7
year-on-year (points) 1.1 -0.8 -0.8 -1.7 -5.4 -8.1 -2.6
ADR actual (JPY) 11,903 12,069 11,896 13,613 12,847 12,067 12,405
year-on-year (%) 12.3 9.5 3.2 12.3 10.9 11.9 9.9
RevPAR actual (JPY) 10,010 10,877 11,256 12,699 10,916 10,310 11,007
year-on-year (%) 13.7 8.5 2.4 10.3 4.3 2.2 6.7
Gross Revenue actual (JPY mn) 57 57 62 67 61 56 362
year-on-year (%) 10.8 9.1 1.8 7.9 3.4 1.5 5.6
2016/07 2016/08 2016/09 2016/10 2016/11 2016/12 2016/07～12
Occupancy Rate actual (%) 91.0 88.7 88.3 93.0 91.1 93.2 90.9
year-on-year (points) -4.1 -8.2 -6.5 -2.4 -1.6 -0.2 -3.8
ADR actual (JPY) 12,876 12,720 12,220 12,260 12,485 12,744 12,554
year-on-year (%) 4.0 0.6 0.3 -3.7 -0.7 3.2 0.6
RevPAR actual (JPY) 11,718 11,279 10,796 11,396 11,370 11,872 11,409
year-on-year (%) -0.5 -8.0 -6.6 -6.1 -2.4 2.9 -3.5
Gross Revenue actual (JPY mn) 64 62 59 63 61 64 375
year-on-year (%) -0.5 -6.5 -4.8 -5.2 -2.4 1.8 -3.0
    (Note) This property was acquired on July 17, 2014.
2016/01 2016/02 2016/03 2016/04 2016/05 2016/06 2016/01～06
Occupancy Rate actual (%) 97.2 96.4 97.3 98.2 97.0 97.8 97.3
year-on-year (points) 3.0 0.5 -0.2 0.1 0.1 -0.9 0.4
ADR actual (JPY) 5,774 7,035 8,616 7,548 7,183 6,680 7,141
year-on-year (%) 4.6 8.4 16.2 15.0 -3.2 1.5 7.0
RevPAR actual (JPY) 5,612 6,778 8,385 7,413 6,967 6,534 6,950
year-on-year (%) 8.0 9.0 15.9 15.1 -3.1 0.5 7.5
Gross Revenue actual (JPY mn) 47 56 74 64 60 55 359
year-on-year (%) 9.4 9.1 14.5 16.1 -4.1 -0.2 7.3
2016/07 2016/08 2016/09 2016/10 2016/11 2016/12 2016/07～12
Occupancy Rate actual (%) 97.8 97.6 95.5 97.7 97.2 95.6 96.9
year-on-year (points) -0.8 0.0 -2.1 1.6 0.9 -0.9 -0.2
ADR actual (JPY) 7,641 7,049 6,983 7,830 7,624 8,107 7,542
year-on-year (%) 9.4 -0.9 -15.1 -5.4 -16.3 5.9 -4.3
RevPAR actual (JPY) 7,476 6,882 6,668 7,651 7,411 7,753 7,310
year-on-year (%) 8.5 -0.9 -17.0 -3.9 -15.5 4.8 -4.5
Gross Revenue actual (JPY mn) 66 61 56 67 62 69 383
year-on-year (%) 9.5 -0.9 -16.4 -4.4 -15.2 4.9 -4.2
    (Note) This property was acquired on July 17, 2014.
2016/01 2016/02 2016/03 2016/04 2016/05 2016/06 2016/01～06
Occupancy Rate actual (%) 89.8 92.6 92.7 91.5 91.4 92.7 91.8
year-on-year (points) -3.5 -2.0 -4.1 -4.3 -3.6 -3.6 -3.5
ADR actual (JPY) 8,376 9,588 12,131 12,423 9,600 9,006 10,194
year-on-year (%) 34.6 27.3 32.4 20.2 4.7 11.6 20.9
RevPAR actual (JPY) 7,521 8,883 11,243 11,362 8,772 8,346 9,354
year-on-year (%) 29.5 24.6 26.8 14.8 0.8 7.4 16.4
Gross Revenue actual (JPY mn) 44 49 67 65 52 48 328
year-on-year (%) 30.7 29.1 28.0 13.9 0.4 7.6 17.2
2016/07 2016/08 2016/09 2016/10 2016/11 2016/12 2016/07～12
Occupancy Rate actual (%) 95.2 95.3 89.2 91.3 89.4 87.1 91.3
year-on-year (points) -0.7 0.9 -3.2 -1.1 0.2 -3.2 -1.2
ADR actual (JPY) 10,625 10,433 9,472 11,476 11,031 10,235 10,553
year-on-year (%) -0.9 -15.0 -19.0 -4.9 -12.4 -10.7 -10.5
RevPAR actual (JPY) 10,116 9,940 8,445 10,475 9,864 8,920 9,632
year-on-year (%) -1.7 -14.2 -21.8 -6.0 -12.1 -13.8 -11.6
Gross Revenue actual (JPY mn) 60 59 48 62 57 54 343
year-on-year (%) -1.1 -13.9 -22.5 -5.5 -11.8 -12.6 -11.2
    (Note) This property was acquired on July 17, 2014.
2016/01 2016/02 2016/03 2016/04 2016/05 2016/06 2016/01～06
Occupancy Rate actual (%) 89.3 89.2 89.5 92.4 87.7 88.4 89.4
year-on-year (points) 7.0 -3.4 -2.7 7.8 2.0 3.7 2.4
ADR actual (JPY) 6,465 6,854 8,450 8,108 8,108 6,760 7,468
year-on-year (%) -1.0 -1.7 13.0 2.0 -8.0 -10.7 -1.2
RevPAR actual (JPY) 5,772 6,113 7,567 7,489 7,113 5,977 6,677
year-on-year (%) 7.4 -5.4 9.7 11.4 -5.9 -6.8 1.6
Gross Revenue actual (JPY mn) 35 34 47 44 43 35 242
year-on-year (%) 7.1 -2.1 7.8 10.1 -3.2 -7.3 2.1
2016/07 2016/08 2016/09 2016/10 2016/11 2016/12 2016/07～12
Occupancy Rate actual (%) 89.9 89.9 88.9 88.5 83.9 85.2 87.7
year-on-year (points) 2.9 -1.1 5.9 0.6 -3.9 0.9 0.9
ADR actual (JPY) 8,139 8,514 7,081 7,542 7,220 8,427 7,831
year-on-year (%) -1.1 -7.7 -21.8 -11.4 -15.5 -1.6 -9.9
RevPAR actual (JPY) 7,314 7,659 6,295 6,677 6,061 7,179 6,872
year-on-year (%) 2.2 -8.8 -16.3 -10.8 -19.3 -0.5 -9.0
Gross Revenue actual (JPY mn) 44 47 35 41 35 43 249
year-on-year (%) 1.1 -9.0 -18.7 -11.0 -19.3 0.8 -9.4
    (Note) This property was acquired on July 17, 2014.
2016/01 2016/02 2016/03 2016/04 2016/05 2016/06 2016/01～06
Occupancy Rate actual (%) 95.0 93.5 91.9 93.1 93.8 94.4 93.6
year-on-year (points) 0.8 0.8 2.2 -0.1 0.6 1.7 1.0
ADR actual (JPY) 6,878 8,018 9,155 9,963 7,898 6,960 8,133
year-on-year (%) 5.6 -2.1 -6.3 -13.0 -12.1 -9.0 -7.1
RevPAR actual (JPY) 6,536 7,495 8,411 9,278 7,405 6,573 7,614
year-on-year (%) 6.5 -1.3 -4.0 -13.0 -11.6 -7.3 -6.0
Gross Revenue actual (JPY mn) 18 20 24 26 21 18 129
year-on-year (%) 6.0 2.0 -4.2 -12.5 -11.4 -7.2 -5.5
2016/07 2016/08 2016/09 2016/10 2016/11 2016/12 2016/07～12
Occupancy Rate actual (%) 92.4 91.8 92.6 93.4 90.5 87.2 91.3
year-on-year (points) -0.2 -2.4 -1.2 1.3 -5.2 -7.6 -2.5
ADR actual (JPY) 7,674 7,420 7,072 8,139 8,126 8,176 7,766
year-on-year (%) -11.1 -13.7 -15.4 -14.5 -12.3 -4.6 -12.0
RevPAR actual (JPY) 7,094 6,815 6,547 7,600 7,357 7,129 7,092
year-on-year (%) -11.3 -15.9 -16.5 -13.3 -17.1 -12.3 -14.4
Gross Revenue actual (JPY mn) 20 19 18 22 20 20 122
year-on-year (%) -11.0 -15.5 -16.0 -12.8 -16.3 -11.8 -13.9
    (Note) This property was acquired on July 17, 2014.
2016/01 2016/02 2016/03 2016/04 2016/05 2016/06 2016/01～06
Occupancy Rate actual (%) 93.3 94.1 94.6 93.3 92.2 92.5 93.3
year-on-year (points) 6.4 0.7 -0.7 -3.0 -2.7 -3.2 -0.4
ADR actual (JPY) 6,255 8,145 7,756 7,097 7,848 7,486 7,426
year-on-year (%) 22.6 32.5 22.8 23.9 -1.3 15.7 17.7
RevPAR actual (JPY) 5,836 7,666 7,334 6,619 7,237 6,926 6,930
year-on-year (%) 31.6 33.4 21.9 20.1 -4.1 11.8 17.2
Gross Revenue actual (JPY mn) 32 40 40 35 40 37 226
year-on-year (%) 34.2 37.6 22.3 19.5 -3.9 12.6 18.2
2016/07 2016/08 2016/09 2016/10 2016/11 2016/12 2016/07～12
Occupancy Rate actual (%) 93.6 94.6 91.9 93.4 94.0 94.8 93.7
year-on-year (points) -2.5 -0.4 -3.1 2.1 3.5 2.8 0.4
ADR actual (JPY) 8,136 8,318 7,723 8,412 9,088 9,381 8,515
year-on-year (%) 12.4 19.4 -4.1 2.9 0.8 17.3 7.9
RevPAR actual (JPY) 7,616 7,865 7,097 7,854 8,539 8,894 7,979
year-on-year (%) 9.4 18.9 -7.2 5.3 4.7 20.9 8.4
Gross Revenue actual (JPY mn) 42 43 38 43 46 49 263
year-on-year (%) 9.0 19.4 -7.1 5.1 6.0 20.8 8.6
    (Note) This property was acquired on July 17, 2014.
2016/01 2016/02 2016/03 2016/04 2016/05 2016/06 2016/01～06
Occupancy Rate actual (%) 93.7 90.6 92.0 91.9 89.9 88.6 91.1
year-on-year (points) 0.4 -5.8 -4.8 -4.4 -8.3 -9.0 -5.3
ADR actual (JPY) 8,375 10,132 9,966 11,635 9,657 8,823 9,756
year-on-year (%) 7.9 12.6 13.7 8.0 3.6 3.7 8.1
RevPAR actual (JPY) 7,849 9,179 9,165 10,695 8,680 7,821 8,891
year-on-year (%) 8.5 5.8 8.1 3.1 -5.1 -5.9 2.2
Gross Revenue actual (JPY mn) 15 16 17 20 17 14 102
year-on-year (%) 7.7 8.8 7.1 2.9 -5.2 -6.0 2.3
2016/07 2016/08 2016/09 2016/10 2016/11 2016/12 2016/07～12
Occupancy Rate actual (%) 91.1 86.7 87.3 91.3 92.9 88.5 89.6
year-on-year (points) -6.2 -9.7 -6.3 -1.6 0.5 -1.9 -4.2
ADR actual (JPY) 9,611 9,638 9,351 9,918 10,094 10,362 9,833
year-on-year (%) 2.2 2.7 -3.6 -7.2 -6.3 4.0 -1.4
RevPAR actual (JPY) 8,754 8,357 8,168 9,056 9,381 9,166 8,814
year-on-year (%) -4.3 -7.7 -10.1 -8.7 -5.8 1.8 -5.8
Gross Revenue actual (JPY mn) 17 16 15 17 17 18 103
year-on-year (%) -4.0 -7.5 -8.4 -7.5 -4.6 2.2 -5.0
    (Note) This property was acquired on July 17, 2014.
2016/01 2016/02 2016/03 2016/04 2016/05 2016/06 2016/01～06
Occupancy Rate actual (%) 93.5 90.5 90.1 90.7 94.6 94.4 92.3
year-on-year (points) 1.9 -0.5 1.6 -0.7 3.6 0.2 1.0
ADR actual (JPY) 7,465 8,500 9,480 10,308 7,922 7,514 8,510
year-on-year (%) 11.2 -1.8 -3.8 -13.5 -15.9 -2.7 -5.8
RevPAR actual (JPY) 6,977 7,690 8,537 9,354 7,492 7,096 7,855
year-on-year (%) 13.5 -2.3 -2.0 -14.2 -12.6 -2.5 -4.7
Gross Revenue actual (JPY mn) 15 16 19 20 16 15 103
year-on-year (%) 13.5 1.2 -2.0 -14.4 -12.2 -2.5 -4.2
2016/07 2016/08 2016/09 2016/10 2016/11 2016/12 2016/07～12
Occupancy Rate actual (%) 92.1 92.6 91.5 95.1 91.7 87.9 91.8
year-on-year (points) -2.6 -3.8 -2.1 2.6 -1.2 -4.8 -2.0
ADR actual (JPY) 8,024 7,680 7,359 8,161 8,013 8,383 7,938
year-on-year (%) -10.4 -9.9 -13.9 -17.7 -15.0 -8.8 -12.7
RevPAR actual (JPY) 7,391 7,109 6,732 7,759 7,349 7,372 7,288
year-on-year (%) -12.8 -13.4 -15.9 -15.5 -16.1 -13.6 -14.5
Gross Revenue actual (JPY mn) 16 15 14 17 16 16 97
year-on-year (%) -12.8 -13.3 -15.3 -14.8 -15.4 -12.7 -14.1
    (Note) This property was acquired on July 17, 2014.
2016/01 2016/02 2016/03 2016/04 2016/05 2016/06 2016/01～06
Occupancy Rate actual (%) 94.1 95.7 93.4 93.6 89.7 95.4 93.6
year-on-year (points) 4.5 -2.3 -4.5 -5.1 -6.2 -2.8 -2.7
ADR actual (JPY) 8,291 9,163 10,540 11,183 9,045 8,605 9,468
year-on-year (%) 4.7 -0.6 11.9 12.5 -9.3 -2.6 2.5
RevPAR actual (JPY) 7,805 8,772 9,848 10,471 8,117 8,209 8,866
year-on-year (%) 9.9 -2.9 6.8 6.7 -15.1 -5.5 -0.4
Gross Revenue actual (JPY mn) 13 14 16 17 13 13 89
year-on-year (%) 9.3 0.6 6.2 5.6 -15.5 -6.2 -0.4
2016/07 2016/08 2016/09 2016/10 2016/11 2016/12 2016/07～12
Occupancy Rate actual (%) 95.2 97.8 97.8 98.7 96.7 95.2 96.9
year-on-year (points) -3.0 -0.2 0.8 3.7 1.3 4.7 1.2
ADR actual (JPY) 8,846 8,483 8,437 9,752 10,422 9,757 9,280
year-on-year (%) -7.7 -8.4 -12.7 -9.6 -4.2 -2.9 -7.5
RevPAR actual (JPY) 8,426 8,294 8,247 9,626 10,081 9,294 8,993
year-on-year (%) -10.5 -8.6 -11.9 -6.1 -2.9 2.2 -6.3
Gross Revenue actual (JPY mn) 14 14 13 16 16 15 91
year-on-year (%) -11.3 -8.9 -12.0 -5.9 -4.2 2.3 -6.6
    (Note) This property was acquired on July 17, 2014.
2016/01 2016/02 2016/03 2016/04 2016/05 2016/06 2016/01～06
Occupancy Rate actual (%) 72.4 82.1 83.6 87.9 84.7 77.6 81.4
year-on-year (points) -8.9 -5.1 1.7 -4.9 -5.4 -11.3 -5.6
ADR actual (JPY) 5,237 5,521 5,538 5,284 5,076 4,936 5,268
year-on-year (%) 16.4 12.5 5.9 11.6 5.7 7.8 10.0
RevPAR actual (JPY) 3,792 4,532 4,633 4,644 4,299 3,829 4,286
year-on-year (%) 3.7 6.0 8.2 5.7 -0.6 -5.9 2.9
Gross Revenue actual (JPY mn) 16 18 19 19 18 16 107
year-on-year (%) 2.3 9.0 7.7 4.1 -1.0 -6.7 2.6
2016/07 2016/08 2016/09 2016/10 2016/11 2016/12 2016/07～12
Occupancy Rate actual (%) 77.6 79.5 71.1 78.6 75.6 75.8 76.4
year-on-year (points) -12.5 -10.2 -13.9 -5.9 -10.5 -4.8 -9.6
ADR actual (JPY) 5,280 5,179 5,191 5,623 5,732 5,505 5,419
year-on-year (%) 6.9 1.3 -0.1 5.3 7.8 5.8 4.6
RevPAR actual (JPY) 4,098 4,118 3,693 4,418 4,335 4,171 4,140
year-on-year (%) -8.0 -10.2 -16.4 -2.0 -5.4 -0.5 -7.1
Gross Revenue actual (JPY mn) 17 17 15 18 17 17 104
year-on-year (%) -8.4 -10.6 -17.1 -3.6 -6.9 -2.6 -8.2
    (Note) This property was acquired on July 17, 2014.
2016/01 2016/02 2016/03 2016/04 2016/05 2016/06 2016/01～06
Occupancy Rate actual (%) 70.3 78.9 75.6 84.5 71.7 75.6 76.0
year-on-year (points) -11.6 -9.2 -12.6 -7.5 -14.1 -8.4 -10.6
ADR actual (JPY) 5,910 6,368 6,195 6,933 6,402 5,775 6,279
year-on-year (%) 21.9 24.9 26.1 22.0 8.6 10.4 18.8
RevPAR actual (JPY) 4,155 5,025 4,683 5,860 4,587 4,365 4,773
year-on-year (%) 4.7 11.8 8.0 12.0 -9.2 -0.6 4.3
Gross Revenue actual (JPY mn) 14 15 15 19 15 14 95
year-on-year (%) 2.5 13.4 4.5 9.2 -10.8 -1.1 2.6
2016/07 2016/08 2016/09 2016/10 2016/11 2016/12 2016/07～12
Occupancy Rate actual (%) 76.0 77.5 75.5 84.0 80.8 77.4 78.5
year-on-year (points) -11.4 -6.8 -5.4 0.1 1.3 2.4 -3.3
ADR actual (JPY) 5,713 5,623 5,481 6,028 6,150 6,063 5,850
year-on-year (%) 12.4 0.6 -9.3 2.6 3.2 -2.6 1.3
RevPAR actual (JPY) 4,341 4,355 4,137 5,065 4,967 4,694 4,594
year-on-year (%) -2.2 -7.5 -15.3 2.8 4.9 0.5 -2.8
Gross Revenue actual (JPY mn) 14 15 13 17 16 16 93
year-on-year (%) -3.0 -7.5 -14.1 2.6 4.7 1.8 -2.6
    (Note) This property was acquired on July 17, 2014.
2016/01 2016/02 2016/03 2016/04 2016/05 2016/06 2016/01～06
Occupancy Rate actual (%) 93.2 93.5 95.2 95.8 95.7 95.5 94.8
year-on-year (points) 4.0 1.6 -0.9 -2.0 0.2 -0.5 0.4
ADR actual (JPY) 10,672 11,400 13,669 13,522 10,899 10,465 11,778
year-on-year (%) 51.1 59.3 76.5 91.8 52.0 48.8 63.4
RevPAR actual (JPY) 9,946 10,656 13,012 12,957 10,426 9,989 11,167
year-on-year (%) 58.0 62.1 74.9 87.9 52.4 48.0 64.1
Gross Revenue actual (JPY mn) 34 34 44 43 35 33 225
year-on-year (%) 53.9 63.7 71.4 80.9 48.7 44.8 60.8
2016/07 2016/08 2016/09 2016/10 2016/11 2016/12 2016/07～12
Occupancy Rate actual (%) 95.9 95.8 94.7 96.5 95.6 90.5 94.8
year-on-year (points) -1.8 -0.6 -0.8 -0.2 3.2 -2.1 -0.4
ADR actual (JPY) 12,906 12,834 10,547 11,666 11,550 12,833 12,062
year-on-year (%) 54.2 20.7 10.3 17.9 0.7 8.1 17.4
RevPAR actual (JPY) 12,376 12,292 9,991 11,256 11,039 11,614 11,438
year-on-year (%) 51.4 20.0 9.3 17.7 4.1 5.7 16.9
Gross Revenue actual (JPY mn) 42 42 33 38 36 40 234
year-on-year (%) 49.3 19.1 8.7 17.2 4.0 5.9 16.4
    (Note) This property was acquired on July 17, 2014.
2016/01 2016/02 2016/03 2016/04 2016/05 2016/06 2016/01～06
Occupancy Rate actual (%) 87.6 89.4 88.7 86.8 89.4 86.8 88.1
year-on-year (points) -0.1 -3.6 -4.7 -9.6 -4.1 -5.6 -4.6
ADR actual (JPY) 6,249 7,285 8,101 9,807 7,544 6,902 7,641
year-on-year (%) 6.3 17.3 17.8 32.1 9.0 10.2 15.6
RevPAR actual (JPY) 5,476 6,513 7,184 8,511 6,743 5,994 6,734
year-on-year (%) 6.3 12.8 11.9 19.0 4.2 3.5 9.9
Gross Revenue actual (JPY mn) 10 11 13 15 12 10 73
year-on-year (%) 2.8 11.8 8.7 13.3 1.6 0.6 6.6
2016/07 2016/08 2016/09 2016/10 2016/11 2016/12 2016/07～12
Occupancy Rate actual (%) 83.6 85.6 86.7 88.5 85.8 83.1 85.5
year-on-year (points) -6.9 -7.4 -4.1 -1.6 -1.0 2.6 -3.1
ADR actual (JPY) 7,462 7,463 7,111 7,873 7,760 8,369 7,673
year-on-year (%) 0.3 -0.6 -4.1 -2.2 -6.3 5.2 -1.2
RevPAR actual (JPY) 6,241 6,386 6,163 6,968 6,655 6,955 6,563
year-on-year (%) -7.4 -8.5 -8.5 -4.0 -7.4 8.6 -4.6
Gross Revenue actual (JPY mn) 11 12 11 13 12 12 73
year-on-year (%) -7.9 -7.9 -8.3 -3.9 -6.8 7.8 -4.6
    (Note) This property was acquired on July 17, 2014.
2016/01 2016/02 2016/03 2016/04 2016/05 2016/06 2016/01～06
Occupancy Rate actual (%) 79.6 86.4 80.1 91.4 89.2 90.9 86.2
year-on-year (points) 8.1 -8.5 -11.5 -5.4 -1.1 3.8 -2.3
ADR actual (JPY) 5,944 6,532 7,432 7,382 6,232 5,938 6,575
year-on-year (%) 6.3 10.1 21.5 15.5 -3.1 2.0 8.3
RevPAR actual (JPY) 4,730 5,643 5,951 6,745 5,562 5,400 5,668
year-on-year (%) 18.3 0.3 6.3 9.1 -4.3 6.4 5.4
Gross Revenue actual (JPY mn) 5 6 7 8 6 6 40
year-on-year (%) 15.3 2.0 4.5 6.8 -3.2 4.8 4.6
2016/07 2016/08 2016/09 2016/10 2016/11 2016/12 2016/07～12
Occupancy Rate actual (%) 87.8 84.4 88.8 90.8 87.5 80.8 86.7
year-on-year (points) -5.8 -7.4 -0.1 -2.8 -5.8 -6.6 -4.8
ADR actual (JPY) 6,276 6,144 6,046 6,332 6,495 6,097 6,234
year-on-year (%) 7.1 -1.3 -3.5 -1.8 -0.7 -1.6 -0.3
RevPAR actual (JPY) 5,508 5,183 5,369 5,751 5,684 4,927 5,402
year-on-year (%) 0.5 -9.2 -3.6 -4.8 -6.9 -9.0 -5.5
Gross Revenue actual (JPY mn) 6 6 6 7 6 6 39
year-on-year (%) -2.0 -10.5 -5.1 -6.5 -7.8 -9.0 -6.8
    (Note) This property was acquired on July 17, 2014.
2016/01 2016/02 2016/03 2016/04 2016/05 2016/06 2016/01～06
Occupancy Rate actual (%) 85.2 87.8 87.5 92.9 88.1 91.5 88.8
year-on-year (points) 8.8 -5.1 -3.4 -5.5 -7.6 0.2 -2.0
ADR actual (JPY) 5,305 6,164 6,787 6,649 5,965 5,507 6,067
year-on-year (%) 2.5 7.9 17.1 19.4 11.4 -1.4 9.6
RevPAR actual (JPY) 4,520 5,411 5,941 6,176 5,257 5,040 5,388
year-on-year (%) 14.3 2.0 12.8 12.8 2.6 -1.3 7.1
Gross Revenue actual (JPY mn) 3 3 4 4 3 3 21
year-on-year (%) 12.3 2.8 10.7 9.4 0.0 -3.1 5.2
2016/07 2016/08 2016/09 2016/10 2016/11 2016/12 2016/07～12
Occupancy Rate actual (%) 87.8 86.1 95.6 94.3 93.9 86.8 90.7
year-on-year (points) -4.3 -11.6 -1.5 -2.9 0.8 -0.3 -3.3
ADR actual (JPY) 5,788 5,288 5,127 5,555 5,780 5,659 5,531
year-on-year (%) -2.0 0.6 -3.8 2.3 -10.9 -7.0 -3.5
RevPAR actual (JPY) 5,083 4,551 4,902 5,237 5,430 4,912 5,018
year-on-year (%) -6.5 -11.4 -5.3 -0.8 -10.2 -7.3 -7.0
Gross Revenue actual (JPY mn) 3 3 3 3 3 3 20
year-on-year (%) -6.5 -14.1 -7.7 -2.9 -8.8 -6.4 -7.7
    (Note) This property was acquired on July 17, 2014.
2016/01 2016/02 2016/03 2016/04 2016/05 2016/06 2016/01～06
Occupancy Rate actual (%) 87.9 98.9 96.6 92.5 89.8 93.2 93.1
year-on-year (points) - - -0.5 -0.2 -3.0 2.8 -
ADR actual (JPY) 5,927 6,561 7,621 7,901 7,674 6,417 7,025
year-on-year (%) - - 2.9 -12.5 -10.8 -14.7 -
RevPAR actual (JPY) 5,210 6,489 7,362 7,308 6,891 5,981 6,540
year-on-year (%) - - 2.4 -12.6 -13.7 -12.0 -
Gross Revenue actual (JPY mn) 76 88 107 99 100 84 557
year-on-year (%) - - 2.5 -12.4 -13.2 -11.4 -
2016/07 2016/08 2016/09 2016/10 2016/11 2016/12 2016/07～12
Occupancy Rate actual (%) 97.5 94.3 93.7 93.9 94.3 96.1 94.4
year-on-year (points) 5.0 -0.6 2.6 1.4 -2.0 0.2 0.5
ADR actual (JPY) 7,539 8,025 7,780 7,818 7,038 8,114 7,802
year-on-year (%) 1.8 -7.6 -7.6 5.5 -11.8 2.2 -2.1
RevPAR actual (JPY) 7,351 7,568 7,290 7,341 6,637 7,798 7,363
year-on-year (%) 7.3 -8.1 -5.0 7.1 -13.6 2.5 -1.6
Gross Revenue actual (JPY mn) 106 109 102 106 93 112 632
year-on-year (%) 6.9 -8.0 -4.8 6.8 -13.3 2.1 -2.0
    (Note 1) This property was acquired on Februay 6, 2015.
    (Note 2) Comparison for year-on-year is not made if the days of operation for the same period in the previous year are less than one month.
2016/01 2016/02 2016/03 2016/04 2016/05 2016/06 2016/01～06
Occupancy Rate actual (%) 64.0 79.7 79.1 73.5 89.1 92.6 79.6
year-on-year (points) - - 9.7 6.7 4.2 5.2 -
ADR actual (JPY) 5,896 5,743 6,492 7,843 8,374 8,137 7,171
year-on-year (%) - - 13.9 27.8 14.8 23.0 -
RevPAR actual (JPY) 3,773 4,578 5,137 5,767 7,458 7,537 5,710
year-on-year (%) - - 29.7 40.7 20.5 30.3 -
Gross Revenue actual (JPY mn) 26 30 36 38 51 50 233
year-on-year (%) - - 26.2 34.8 18.3 26.8 -
2016/07 2016/08 2016/09 2016/10 2016/11 2016/12 2016/07～12
Occupancy Rate actual (%) 91.5 94.3 93.9 89.6 72.8 79.6 87.0
year-on-year (points) 3.8 2.6 2.5 0.4 -8.2 1.9 0.5
ADR actual (JPY) 9,631 10,578 9,318 8,628 7,489 6,974 8,873
year-on-year (%) 21.4 20.4 15.3 22.7 24.9 17.0 20.6
RevPAR actual (JPY) 8,810 9,978 8,754 7,731 5,448 5,550 7,719
year-on-year (%) 26.6 23.7 18.5 23.2 12.2 19.9 21.3
Gross Revenue actual (JPY mn) 60 66 57 53 36 38 312
year-on-year (%) 24.7 20.8 18.1 21.8 10.1 18.5 19.5
    (Note 1) This property was acquired on Februay 6, 2015.
    (Note 2) Comparison for year-on-year is not made if the days of operation for the same period in the previous year are less than one month.
2016/01 2016/02 2016/03 2016/04 2016/05 2016/06 2016/01～06
Occupancy Rate actual (%) 73.8 81.2 78.3 93.8 90.7 85.2 83.8
year-on-year (points) - - -10.9 0.6 -2.1 -5.4 -
ADR actual (JPY) 6,436 7,657 7,844 7,888 7,171 6,669 7,291
year-on-year (%) - - 11.5 9.8 6.4 6.0 -
RevPAR actual (JPY) 4,750 6,221 6,145 7,397 6,504 5,679 6,110
year-on-year (%) - - -2.2 10.5 4.0 -0.4 -
Gross Revenue actual (JPY mn) 12 15 16 19 17 14 96
year-on-year (%) - - -3.9 9.1 3.0 -1.0 -
2016/07 2016/08 2016/09 2016/10 2016/11 2016/12 2016/07～12
Occupancy Rate actual (%) 89.6 82.6 82.6 87.4 79.1 73.8 82.5
year-on-year (points) -2.9 -5.8 -0.3 -3.8 -7.9 -9.3 -5.0
ADR actual (JPY) 6,946 7,000 6,751 7,041 7,397 7,107 7,035
year-on-year (%) 6.4 7.3 -6.4 -2.4 2.3 4.8 1.9
RevPAR actual (JPY) 6,223 5,780 5,575 6,151 5,853 5,249 5,806
year-on-year (%) 3.0 0.2 -6.7 -6.5 -7.0 -6.9 -4.0
Gross Revenue actual (JPY mn) 16 15 14 16 15 14 92
year-on-year (%) 2.6 -0.2 -6.9 -7.2 -8.3 -8.1 -4.7
    (Note 1) This property was acquired on Februay 6, 2015.
    (Note 2) Comparison for year-on-year is not made if the days of operation for the same period in the previous year are less than one month.
2016/01 2016/02 2016/03 2016/04 2016/05 2016/06 2016/01～06
Occupancy Rate actual (%) 95.1 95.2 95.3 92.2 94.3 94.5 94.4
year-on-year (points) - - - - - - -
ADR actual (JPY) 9,690 11,400 12,445 13,165 10,601 10,233 11,242
year-on-year (%) - - - - - - -
RevPAR actual (JPY) 9,218 10,851 11,863 12,136 9,995 9,669 10,616
year-on-year (%) - - - - - - -
Gross Revenue actual (JPY mn) 50 56 66 64 54 52 344
year-on-year (%) - - - - - - -
2016/07 2016/08 2016/09 2016/10 2016/11 2016/12 2016/07～12
Occupancy Rate actual (%) 96.0 96.6 96.6 97.7 96.6 95.6 96.5
year-on-year (points) - 0.2 2.8 2.8 0.2 0.5 -
ADR actual (JPY) 10,773 10,625 10,403 11,311 11,880 11,481 11,078
year-on-year (%) - 1.6 -9.6 -7.0 -1.1 0.9 -
RevPAR actual (JPY) 10,342 10,260 10,052 11,049 11,482 10,971 10,692
year-on-year (%) - 1.8 -6.9 -4.2 -0.9 1.4 -
Gross Revenue actual (JPY mn) 56 56 53 61 61 60 350
year-on-year (%) - -2.9 -4.3 -4.3 -1.7 4.0 -
    (Note 1) This property was acquired on July 16, 2015.
    (Note 2) Comparison for year-on-year is not made if the days of operation for the same period in the previous year are less than one month.
2016/01 2016/02 2016/03 2016/04 2016/05 2016/06 2016/01～06
Occupancy Rate actual (%) 72.5 89.4 84.8 88.0 85.1 92.4 85.3
year-on-year (points) - - - - - - -
ADR actual (JPY) 5,949 6,005 6,799 7,287 6,530 5,868 6,415
year-on-year (%) - - - - - - -
RevPAR actual (JPY) 4,314 5,368 5,769 6,415 5,558 5,422 5,471
year-on-year (%) - - - - - - -
Gross Revenue actual (JPY mn) 38 44 50 53 48 46 281
year-on-year (%) - - - - - - -
2016/07 2016/08 2016/09 2016/10 2016/11 2016/12 2016/07～12
Occupancy Rate actual (%) 92.1 91.5 89.4 88.6 86.0 83.6 88.5
year-on-year (points) - 1.5 6.6 5.4 -0.2 5.3 -
ADR actual (JPY) 6,014 6,019 6,055 6,543 6,690 6,789 6,341
year-on-year (%) - -0.9 -7.1 -5.7 -1.0 4.3 -
RevPAR actual (JPY) 5,538 5,505 5,413 5,799 5,754 5,678 5,615
year-on-year (%) - 0.8 0.3 0.4 -1.2 11.3 -
Gross Revenue actual (JPY mn) 48 48 45 50 48 49 292
year-on-year (%) - 1.6 0.4 0.6 -0.7 12.2 -
    (Note 1) This property was acquired on July 16, 2015.
    (Note 2) Comparison for year-on-year is not made if the days of operation for the same period in the previous year are less than one month.
2016/01 2016/02 2016/03 2016/04 2016/05 2016/06 2016/01～06
Occupancy Rate actual (%) 95.4 92.4 92.2 93.6 95.3 96.1 94.2
year-on-year (points) - - - - - - -
ADR actual (JPY) 9,781 10,987 12,056 12,950 9,905 9,186 10,789
year-on-year (%) - - - - - - -
RevPAR actual (JPY) 9,333 10,151 11,113 12,118 9,444 8,829 10,161
year-on-year (%) - - - - - - -
Gross Revenue actual (JPY mn) 28 28 33 35 28 26 182
year-on-year (%) - - - - - - -
2016/07 2016/08 2016/09 2016/10 2016/11 2016/12 2016/07～12
Occupancy Rate actual (%) 94.5 94.6 96.1 96.8 95.7 91.5 94.9
year-on-year (points) - -0.8 1.2 4.0 0.6 -3.0 -
ADR actual (JPY) 9,906 9,295 8,837 10,280 10,438 11,046 9,964
year-on-year (%) - -13.5 -17.8 -18.7 -13.5 -3.1 -
RevPAR actual (JPY) 9,366 8,797 8,491 9,948 9,986 10,109 9,452
year-on-year (%) - -14.2 -16.8 -15.2 -12.9 -6.2 -
Gross Revenue actual (JPY mn) 28 27 25 30 29 30 171
year-on-year (%) - -14.0 -17.1 -14.9 -13.1 -6.0 -
    (Note 1) This property was acquired on July 16, 2015.
    (Note 2) Comparison for year-on-year is not made if the days of operation for the same period in the previous year are less than one month.
2016/01 2016/02 2016/03 2016/04 2016/05 2016/06 2016/01～06
Occupancy Rate actual (%) 80.9 93.0 90.3 90.9 87.9 91.8 89.1
year-on-year (points) - - - - - - -
ADR actual (JPY) 5,854 6,213 7,017 7,360 6,326 5,925 6,459
year-on-year (%) - - - - - - -
RevPAR actual (JPY) 4,736 5,780 6,340 6,687 5,563 5,441 5,754
year-on-year (%) - - - - - - -
Gross Revenue actual (JPY mn) 27 30 35 36 31 30 192
year-on-year (%) - - - - - - -
2016/07 2016/08 2016/09 2016/10 2016/11 2016/12 2016/07～12
Occupancy Rate actual (%) 93.9 92.5 92.3 93.5 88.6 88.1 91.5
year-on-year (points) - -0.1 7.4 4.5 2.2 5.3 -
ADR actual (JPY) 5,931 6,275 6,482 6,728 7,206 7,447 6,665
year-on-year (%) - 5.8 -5.1 -4.6 0.2 13.0 -
RevPAR actual (JPY) 5,568 5,804 5,982 6,291 6,387 6,563 6,098
year-on-year (%) - 5.6 3.1 0.2 2.7 20.2 -
Gross Revenue actual (JPY mn) 32 33 32 35 34 36 205
year-on-year (%) - 5.8 2.4 0.3 2.4 19.1 -
    (Note 1) This property was acquired on July 16, 2015.
    (Note 2) Comparison for year-on-year is not made if the days of operation for the same period in the previous year are less than one month.
2016/01 2016/02 2016/03 2016/04 2016/05 2016/06 2016/01～06
Occupancy Rate actual (%) 68.1 81.0 87.7 78.1 75.5 79.2 78.2
year-on-year (points) - - - - - - -
ADR actual (JPY) 6,261 6,204 7,099 6,418 6,933 5,958 6,497
year-on-year (%) - - - - - - -
RevPAR actual (JPY) 4,265 5,024 6,224 5,011 5,236 4,720 5,083
year-on-year (%) - - - - - - -
Gross Revenue actual (JPY mn) 22 23 31 25 26 23 152
year-on-year (%) - - - - - - -
2016/07 2016/08 2016/09 2016/10 2016/11 2016/12 2016/07～12
Occupancy Rate actual (%) 88.5 95.3 83.0 81.0 82.9 80.0 85.1
year-on-year (points) - 15.2 -4.3 -5.6 4.5 1.4 -
ADR actual (JPY) 6,592 7,525 6,347 6,840 6,706 6,342 6,747
year-on-year (%) - -1.5 -9.9 0.3 -5.0 -0.1 -
RevPAR actual (JPY) 5,831 7,172 5,267 5,543 5,557 5,074 5,744
year-on-year (%) - 17.2 -14.4 -6.3 0.5 1.6 -
Gross Revenue actual (JPY mn) 29 36 25 28 27 25 173
year-on-year (%) - 3.1 -14.2 -4.2 1.3 0.4 -
    (Note 1) This property was acquired on July 16, 2015.
    (Note 2) Comparison for year-on-year is not made if the days of operation for the same period in the previous year are less than one month.
    (Note 1) This property was acquired on July 16, 2015.
    (Note 2) Their leases have only fixed rent. Not disclosed, as operator's consent has not been obtained for disclosure regarding Occupancy, ADR, RevPAR and Gross Revenue.
2016/01 2016/02 2016/03 2016/04 2016/05 2016/06 2016/01～06
Occupancy Rate actual (%) 81.9 85.4 87.1 81.7 84.3 84.2 84.1
year-on-year (points) - - - - - - -
ADR actual (JPY) 5,079 5,764 6,221 7,325 5,607 5,560 5,920
year-on-year (%) - - - - - - -
RevPAR actual (JPY) 4,157 4,924 5,420 5,982 4,725 4,680 4,978
year-on-year (%) - - - - - - -
Gross Revenue actual (JPY mn) 11 12 14 15 12 12 80
year-on-year (%) - - - - - - -
2016/07 2016/08 2016/09 2016/10 2016/11 2016/12 2016/07～12
Occupancy Rate actual (%) 90.7 86.7 85.2 92.4 90.5 83.8 88.2
year-on-year (points) - -0.8 -0.7 8.9 5.6 7.0 -
ADR actual (JPY) 5,869 5,645 5,347 5,782 5,729 6,227 5,768
year-on-year (%) - -4.7 -1.9 -5.4 -7.6 -2.8 -
RevPAR actual (JPY) 5,323 4,896 4,555 5,346 5,185 5,218 5,089
year-on-year (%) - -5.6 -2.7 4.7 -1.5 6.1 -
Gross Revenue actual (JPY mn) 14 13 12 14 13 14 83
year-on-year (%) - -7.4 -3.2 4.8 -1.2 6.3 -
    (Note 1) This property was acquired on July 16, 2015.
    (Note 2) Comparison for year-on-year is not made if the days of operation for the same period in the previous year are less than one month.
2016/01 2016/02 2016/03 2016/04 2016/05 2016/06 2016/01～06
Occupancy Rate actual (%) 92.2 93.3 94.9 93.0 90.3 93.7 92.9
year-on-year (points) - - - - - - -
ADR actual (JPY) 6,113 6,563 7,140 6,885 7,149 6,606 6,745
year-on-year (%) - - - - - - -
RevPAR actual (JPY) 5,636 6,120 6,779 6,402 6,457 6,192 6,265
year-on-year (%) - - - - - - -
Gross Revenue actual (JPY mn) 36 38 47 33 39 46 241
year-on-year (%) - - - - - - -
2016/07 2016/08 2016/09 2016/10 2016/11 2016/12 2016/07～12
Occupancy Rate actual (%) 93.2 94.5 92.6 98.1 98.5 97.4 95.7
year-on-year (points) - -1.4 0.2 4.1 5.1 1.5 -
ADR actual (JPY) 6,760 6,949 6,942 8,020 7,655 7,020 7,232
year-on-year (%) - 5.7 0.5 3.5 2.6 10.8 -
RevPAR actual (JPY) 6,299 6,568 6,429 7,871 7,540 6,835 6,923
year-on-year (%) - 4.1 0.7 8.0 8.2 12.5 -
Gross Revenue actual (JPY mn) 32 31 35 53 46 44 243
year-on-year (%) - -14.4 -22.7 4.8 26.5 16.0 -
    (Note 1) This property was acquired on July 16, 2015.
    (Note 2) Comparison for year-on-year is not made if the days of operation for the same period in the previous year are less than one month.
2016/01 2016/02 2016/03 2016/04 2016/05 2016/06 2016/01～06
Occupancy Rate actual (%) 62.1 82.9 84.8 88.1 88.0 77.6 80.5
year-on-year (points) - - - - - - -
ADR actual (JPY) 5,460 5,689 5,639 5,868 5,596 5,355 5,612
year-on-year (%) - - - - - - -
RevPAR actual (JPY) 3,393 4,714 4,783 5,168 4,924 4,153 4,519
year-on-year (%) - - - - - - -
Gross Revenue actual (JPY mn) 7 9 9 10 10 8 55
year-on-year (%) - - - - - - -
2016/07 2016/08 2016/09 2016/10 2016/11 2016/12 2016/07～12
Occupancy Rate actual (%) 84.6 87.2 70.5 89.7 87.6 65.0 80.8
year-on-year (points) - -3.9 -16.4 -1.0 1.7 -12.7 -
ADR actual (JPY) 5,548 5,590 5,623 5,396 5,775 6,007 5,640
year-on-year (%) - 8.5 8.4 1.7 3.5 6.7 -
RevPAR actual (JPY) 4,695 4,877 3,965 4,838 5,059 3,906 4,557
year-on-year (%) - 3.9 -12.0 0.6 5.5 -10.7 -
Gross Revenue actual (JPY mn) 9 10 8 10 10 8 57
year-on-year (%) - 3.9 -13.2 0.1 4.8 -11.2 -
    (Note 1) This property was acquired on July 16, 2015.
    (Note 2) Comparison for year-on-year is not made if the days of operation for the same period in the previous year are less than one month.
    (Note 1) This property was acquired on July 16, 2015.
    (Note 2) Their leases have only fixed rent. Not disclosed, as operator's consent has not been obtained for disclosure regarding Occupancy, ADR, RevPAR and Gross Revenue.
2016/01 2016/02 2016/03 2016/04 2016/05 2016/06 2016/01～06
Occupancy Rate actual (%) 57.2 86.8 85.3 93.7 91.3 78.8 82.1
year-on-year (points) - - - - - - -
ADR actual (JPY) 5,111 5,001 5,178 5,272 5,038 4,939 5,093
year-on-year (%) - - - - - - -
RevPAR actual (JPY) 2,922 4,339 4,416 4,938 4,600 3,892 4,180
year-on-year (%) - - - - - - -
Gross Revenue actual (JPY mn) 6 8 8 9 9 7 50
year-on-year (%) - - - - - - -
2016/07 2016/08 2016/09 2016/10 2016/11 2016/12 2016/07～12
Occupancy Rate actual (%) 82.3 87.2 87.7 96.1 92.8 74.3 86.7
year-on-year (points) - -6.9 1.3 6.4 0.8 -0.5 -
ADR actual (JPY) 5,062 4,910 4,622 4,741 4,828 5,163 4,877
year-on-year (%) - 8.9 -0.8 -6.2 -3.8 3.4 -
RevPAR actual (JPY) 4,166 4,281 4,053 4,558 4,483 3,839 4,230
year-on-year (%) - 1.0 0.7 0.5 -3.0 2.7 -
Gross Revenue actual (JPY mn) 8 8 8 9 9 7 51
year-on-year (%) - -1.2 -0.4 1.6 -2.3 1.2 -
    (Note 1) This property was acquired on July 16, 2015.
    (Note 2) Comparison for year-on-year is not made if the days of operation for the same period in the previous year are less than one month.
2016/01 2016/02 2016/03 2016/04 2016/05 2016/06 2016/01～06
Occupancy Rate actual (%) 77.2 86.9 80.3 94.9 92.2 84.1 85.9
year-on-year (points) - - - - - - -
ADR actual (JPY) 5,001 5,406 5,369 5,517 5,204 4,984 5,253
year-on-year (%) - - - - - - -
RevPAR actual (JPY) 3,862 4,699 4,311 5,234 4,798 4,193 4,512
year-on-year (%) - - - - - - -
Gross Revenue actual (JPY mn) 26 30 29 34 33 28 182
year-on-year (%) - - - - - - -
2016/07 2016/08 2016/09 2016/10 2016/11 2016/12 2016/07～12
Occupancy Rate actual (%) 90.6 81.8 74.7 85.1 82.1 80.4 82.5
year-on-year (points) - - -9.4 1.3 -6.4 5.6 -
ADR actual (JPY) 4,913 5,134 5,183 5,534 5,332 5,407 5,247
year-on-year (%) - - -1.0 0.2 2.8 1.6 -
RevPAR actual (JPY) 4,450 4,200 3,872 4,709 4,376 4,349 4,328
year-on-year (%) - - -12.1 1.8 -4.6 9.3 -
Gross Revenue actual (JPY mn) 31 29 26 32 29 30 178
year-on-year (%) - - -10.9 3.7 -3.4 10.2 -
    (Note 1) This property was acquired on August 28, 2015.
    (Note 2) Comparison for year-on-year is not made if the days of operation for the same period in the previous year are less than one month.
    (Note 1) This property was acquired on August 28, 2015.
    (Note 2) Their leases have only fixed rent. Not disclosed, as operator's consent has not been obtained for disclosure regarding Occupancy, ADR, RevPAR and Gross Revenue.
    (Note 1) This property was acquired on August 28, 2015.
    (Note 2) Their leases have only fixed rent. Not disclosed, as operator's consent has not been obtained for disclosure regarding Occupancy, ADR, RevPAR and Gross Revenue.
2016/01 2016/02 2016/03 2016/04 2016/05 2016/06 2016/01～06
Occupancy Rate actual (%) 89.3 91.6 88.8 85.5 96.1 96.0 91.4
year-on-year (points) - - - - - - -
ADR actual (JPY) 12,647 15,064 18,041 18,019 13,570 13,758 15,431
year-on-year (%) - - - - - - -
RevPAR actual (JPY) 11,289 13,794 16,015 15,405 13,035 13,206 14,111
year-on-year (%) - - - - - - -
Gross Revenue actual (JPY mn) 7 22 27 25 22 22 128
year-on-year (%) - - - - - - -
2016/07 2016/08 2016/09 2016/10 2016/11 2016/12 2016/07～12
Occupancy Rate actual (%) 96.4 99.3 94.8 95.4 96.9 95.8 96.4
year-on-year (points) - - - - - - -
ADR actual (JPY) 16,137 14,863 13,207 15,478 15,912 15,695 15,226
year-on-year (%) - - - - - - -
RevPAR actual (JPY) 15,549 14,756 12,514 14,766 15,421 15,039 14,682
year-on-year (%) - - - - - - -
Gross Revenue actual (JPY mn) 27 25 21 25 25 26 151
year-on-year (%) - - - - - - -
    (Note 1) This property was acquired on January 22, 2016. Therefore the figures for January 2016 are the results of 10 days of operation from January 22, 2016 to January 31, 2016.
    (Note 2) Comparison for year-on-year is not made if the days of operation for the same period in the previous year are less than one month.
    (Note 1) This property was acquired on January 22, 2016.
    (Note 2) Their leases have only fixed rent. Not disclosed, as operator's consent has not been obtained for disclosure regarding Occupancy, ADR, RevPAR and Gross Revenue.
    (Note 1) This property was acquired on January 22, 2016.
    (Note 2) Their leases have only fixed rent. Not disclosed, as operator's consent has not been obtained for disclosure regarding Occupancy, ADR, RevPAR and Gross Revenue.
    (Note 1) This property was acquired on January 22, 2016.
    (Note 2) Their leases have only fixed rent. Not disclosed, as operator's consent has not been obtained for disclosure regarding Occupancy, ADR, RevPAR and Gross Revenue.
    (Note 1) This property was acquired on January 22, 2016.
    (Note 2) Their leases have only fixed rent. Not disclosed, as operator's consent has not been obtained for disclosure regarding Occupancy, ADR, RevPAR and Gross Revenue.
2016/01 2016/02 2016/03 2016/04 2016/05 2016/06 2016/01～06
Occupancy Rate actual (%) - - 96.7 96.3 95.4 95.4 95.7
year-on-year (points) - - - - - - -
ADR actual (JPY) - - 16,468 12,063 10,192 9,334 10,596
year-on-year (%) - - - - - - -
RevPAR actual (JPY) - - 15,924 11,611 9,722 8,909 10,140
year-on-year (%) - - - - - - -
Gross Revenue actual (JPY mn) - - 9 119 117 98 344
year-on-year (%) - - - - - - -
2016/07 2016/08 2016/09 2016/10 2016/11 2016/12 2016/07～12
Occupancy Rate actual (%) 94.3 95.8 96.0 95.8 97.4 97.0 96.0
year-on-year (points) - - - - - - -
ADR actual (JPY) 10,393 9,750 9,968 10,606 10,768 10,447 10,323
year-on-year (%) - - - - - - -
RevPAR actual (JPY) 9,796 9,337 9,565 10,159 10,494 10,134 9,913
year-on-year (%) - - - - - - -
Gross Revenue actual (JPY mn) 110 104 106 115 118 116 673
year-on-year (%) - - - - - - -
    (Note 1) This property was acquired on March 31, 2016. Therefore the figures for March 2016 are only one day of operations, that of March 31, 2016.
    (Note 2) Comparison for year-on-year is not made if the days of operation for the same period in the previous year are less than one month.
2016/01 2016/02 2016/03 2016/04 2016/05 2016/06 2016/01～06
Occupancy Rate actual (%) - - 99.0 84.2 85.7 78.7 83.1
year-on-year (points) - - - - - - -
ADR actual (JPY) - - 22,290 18,654 21,382 17,609 19,327
year-on-year (%) - - - - - - -
RevPAR actual (JPY) - - 22,077 15,708 18,331 13,852 16,056
year-on-year (%) - - - - - - -
Gross Revenue actual (JPY mn) - - 18 455 505 438 1,418
year-on-year (%) - - - - - - -
2016/07 2016/08 2016/09 2016/10 2016/11 2016/12 2016/07～12
Occupancy Rate actual (%) 93.6 100.0 97.4 96.0 93.8 75.9 92.8
year-on-year (points) - - - - - - -
ADR actual (JPY) 25,988 42,242 20,925 21,251 18,842 20,821 25,356
year-on-year (%) - - - - - - -
RevPAR actual (JPY) 24,327 42,238 20,385 20,401 17,672 15,811 23,521
year-on-year (%) - - - - - - -
Gross Revenue actual (JPY mn) 586 783 545 605 526 458 3,505
year-on-year (%) - - - - - - -
    (Note 1) This property was acquired on March 31, 2016. Therefore the figures for March 2016 are only one day of operations, that of March 31, 2016.
    (Note 2) Comparison for year-on-year is not made if the days of operation for the same period in the previous year are less than one month.
2016/01 2016/02 2016/03 2016/04 2016/05 2016/06 2016/01～06
Occupancy Rate actual (%) - - 97.7 95.5 95.6 95.0 95.4
year-on-year (points) - - - - - - -
ADR actual (JPY) - - 5,833 7,408 7,774 7,672 7,600
year-on-year (%) - - - - - - -
RevPAR actual (JPY) - - 5,699 7,076 7,431 7,290 7,250
year-on-year (%) - - - - - - -
Gross Revenue actual (JPY mn) - - 1 52 51 49 154
year-on-year (%) - - - - - - -
2016/07 2016/08 2016/09 2016/10 2016/11 2016/12 2016/07～12
Occupancy Rate actual (%) 95.7 96.2 95.1 95.0 96.0 94.7 95.5
year-on-year (points) - - - - - - -
ADR actual (JPY) 8,141 8,206 7,702 8,151 9,134 9,433 8,461
year-on-year (%) - - - - - - -
RevPAR actual (JPY) 7,791 7,893 7,327 7,745 8,772 8,935 8,078
year-on-year (%) - - - - - - -
Gross Revenue actual (JPY mn) 53 53 48 53 58 61 329
year-on-year (%) - - - - - - -
    (Note 1) This property was acquired on March 31, 2016. Therefore the figures for March 2016 are only one day of operations, that of March 31, 2016.
    (Note 2) Comparison for year-on-year is not made if the days of operation for the same period in the previous year are less than one month.
2016/01 2016/02 2016/03 2016/04 2016/05 2016/06 2016/01～06
Occupancy Rate actual (%) - - 99.0 95.9 92.1 92.2 93.4
year-on-year (points) - - - - - - -
ADR actual (JPY) - - 21,990 13,880 11,637 10,683 12,200
year-on-year (%) - - - - - - -
RevPAR actual (JPY) - - 21,781 13,308 10,718 9,848 11,399
year-on-year (%) - - - - - - -
Gross Revenue actual (JPY mn) - - 2 42 35 31 110
year-on-year (%) - - - - - - -
2016/07 2016/08 2016/09 2016/10 2016/11 2016/12 2016/07～12
Occupancy Rate actual (%) 91.5 95.4 96.8 95.8 97.6 96.7 95.6
year-on-year (points) - - - - - - -
ADR actual (JPY) 11,305 10,520 10,424 11,525 11,463 10,948 11,030
year-on-year (%) - - - - - - -
RevPAR actual (JPY) 10,346 10,032 10,090 11,040 11,183 10,588 10,545
year-on-year (%) - - - - - - -
Gross Revenue actual (JPY mn) 33 32 31 36 35 34 204
year-on-year (%) - - - - - - -
    (Note 1) This property was acquired on March 31, 2016. Therefore the figures for March 2016 are only one day of operations, that of March 31, 2016.
    (Note 2) Comparison for year-on-year is not made if the days of operation for the same period in the previous year are less than one month.
2016/01 2016/02 2016/03 2016/04 2016/05 2016/06 2016/01～06
Occupancy Rate actual (%) - - - - - 95.6 95.6
year-on-year (points) - - - - - - -
ADR actual (JPY) - - - - - 9,636 9,636
year-on-year (%) - - - - - - -
RevPAR actual (JPY) - - - - - 9,209 9,209
year-on-year (%) - - - - - - -
Gross Revenue actual (JPY mn) - - - - - 54 54
year-on-year (%) - - - - - - -
2016/07 2016/08 2016/09 2016/10 2016/11 2016/12 2016/07～12
Occupancy Rate actual (%) 95.8 94.6 95.2 94.4 92.2 91.1 93.9
year-on-year (points) - - - - - - -
ADR actual (JPY) 10,603 12,030 11,851 13,107 12,303 9,707 11,601
year-on-year (%) - - - - - - -
RevPAR actual (JPY) 10,161 11,374 11,286 12,374 11,340 8,840 10,891
year-on-year (%) - - - - - - -
Gross Revenue actual (JPY mn) 92 98 93 106 93 76 560
year-on-year (%) - - - - - - -
    (Note 1) This property was acquired on June 15, 2016. Therefore the figures for June 2016 are the results of 16 days of operation from June 15, 2016 to June 30, 2016.
    (Note 2) Comparison for year-on-year is not made if the days of operation for the same period in the previous year are less than one month.

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