Hotel Performance

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Domestic Hotels Total
2018/01 2018/02 2018/03 2018/04 2018/05 2018/06 2018/01～06
# of Properties (Note2) actual - 44(53) 48(57) 48(57) 48(57) 48(57) 50(59) 50(59)
Occupancy Rate actual (%) 84.4 89.9 89.8 90.8 86.5 88.5 88.3
ADR actual (JPY) 8,104 9,289 9,633 10,457 9,537 8,633 9,302
RevPAR actual (JPY) 6,838 8,350 8,647 9,492 8,252 7,644 8,216
Gross Revenue actual (JPY mn) 2,036 2,388 2,857 2,956 2,724 2,526 15,490
2018/07 2018/08 2018/09 2018/10 2018/11 2018/12 2018/07～12
# of Properties (Note2) actual - 50(59) 54(63) 54(63) 54(63) 54(63) 54(63) 54(63)
Occupancy Rate actual (%) 90.7 93.6 88.0 91.0 91.1 88.8 90.6
ADR actual (JPY) 9,662 11,395 9,610 9,959 10,562 9,995 10,218
RevPAR actual (JPY) 8,768 10,670 8,458 9,060 9,625 8,875 9,253
Gross Revenue actual (JPY mn) 2,954 3,880 3,136 3,455 3,499 3,313 20,240
Overseas Hotels Total
2018/01 2018/02 2018/03 2018/04 2018/05 2018/06 2018/01～06
# of Properties (Note2) actual - - - - - - - -
Occupancy Rate actual (%) - - - - - - -
ADR actual (USD) - - - - - - -
RevPAR actual (USD) - - - - - - -
Gross Revenue actual (USD'000) - - - - - - -
2018/07 2018/08 2018/09 2018/10 2018/11 2018/12 2018/07～12
# of Properties (Note2) actual - - - 2 2 2 2 2
Occupancy Rate actual (%) - - 52.6 67.7 86.2 88.9 77.1
ADR actual (USD) - - 192 210 286 497 293
RevPAR actual (USD) - - 101 142 247 442 226
Gross Revenue actual (USD'000) - - 3,008 4,136 6,334 10,021 35,610
  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.
  3. Sheraton Grande Tokyo Bay Hotel, the underlying asset of the preferred equity interest acquired on October 13, 2017 is excluded from the performance calculation.
  4. “Gross Revenue” for 2018 shows the total revenue of the hotel, while “Gross Revenue” prior to 2018 showed the gross operating income of the hotel. Year-on-year change in 2018 shows the total revenue in 2018 vs. the total revenue in 2017. There is no significant difference between total revenue and gross operating income for the limited service hotels that account for the vast majority of INV's hotel portfolio.
  5. For below figures of each hotel, comparison for year-on-year is not made if the days of operation are less than one month. Year-on-year comparison for the six month cumulative figures is not provided if the property was not held as at the beginning of the fiscal period. Year-on-year comparison with the pre-acquisition period of each hotel is based on actual results provided by sellers.

Individual Hotels

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2018/01 2018/02 2018/03 2018/04 2018/05 2018/06 2018/01～06
Occupancy Rate actual (%) 96.5 98.5 96.8 98.3 95.6 97.1 97.1
year-on-year (points) 6.3 2.5 3.2 2.3 0.8 2.9 3.0
ADR actual (JPY) 7,335 8,847 8,748 10,965 8,700 8,373 8,825
year-on-year (%) -5.5 -5.8 -4.4 -7.4 -3.4 5.3 -4.0
RevPAR actual (JPY) 7,076 8,714 8,470 10,776 8,314 8,134 8,569
year-on-year (%) 1.1 -3.3 -1.2 -5.1 -2.5 8.5 -0.9
Gross Revenue actual (JPY mn) 27 31 33 41 32 31 197
year-on-year (%) 1.2 -3.3 -1.3 -5.5 -2.5 8.8 -0.9
2018/07 2018/08 2018/09 2018/10 2018/11 2018/12 2018/07～12
Occupancy Rate actual (%) 95.5 96.0 97.4 95.8 97.4 95.1 96.2
year-on-year (points) 1.4 0.2 8.1 -1.3 -0.5 -1.8 1.0
ADR actual (JPY) 9,263 8,910 8,747 9,799 10,462 10,227 9,567
year-on-year (%) 4.0 2.8 9.3 6.0 14.1 10.0 7.5
RevPAR actual (JPY) 8,850 8,556 8,521 9,385 10,188 9,724 9,202
year-on-year (%) 5.5 3.0 19.2 4.7 13.6 7.9 8.7
Gross Revenue actual (JPY mn) 34 33 32 37 38 38 215
year-on-year (%) 5.5 3.0 19.1 4.8 13.1 7.6 8.5
    (Note1) This property was acquired on May 23, 2014.
    (Note2) Renovation Period : May 20, 2016 - August 22, 2016
2018/01 2018/02 2018/03 2018/04 2018/05 2018/06 2018/01～06
Occupancy Rate actual (%) 90.3 93.5 91.0 94.3 93.9 96.8 93.3
year-on-year (points) -3.4 0.2 -3.1 -1.7 -0.9 1.9 -1.2
ADR actual (JPY) 5,634 6,462 6,727 8,614 6,529 6,277 6,710
year-on-year (%) -13.8 -11.1 -13.9 -11.0 -12.9 -2.2 -11.0
RevPAR actual (JPY) 5,088 6,043 6,121 8,126 6,128 6,077 6,258
year-on-year (%) -16.9 -10.9 -16.7 -12.6 -13.7 -0.3 -12.2
Gross Revenue actual (JPY mn) 26 28 31 40 31 30 189
year-on-year (%) -16.3 -9.2 -15.5 -11.9 -12.1 0.7 -11.0
2018/07 2018/08 2018/09 2018/10 2018/11 2018/12 2018/07～12
Occupancy Rate actual (%) 97.2 97.2 96.8 95.0 95.9 93.6 95.9
year-on-year (points) 0.4 1.9 3.0 1.3 1.9 2.1 1.7
ADR actual (JPY) 6,913 6,576 6,462 7,312 7,433 7,742 7,069
year-on-year (%) -0.7 -0.9 0.3 0.9 4.3 9.9 2.3
RevPAR actual (JPY) 6,719 6,391 6,255 6,949 7,124 7,247 6,782
year-on-year (%) -0.3 1.0 3.5 2.3 6.4 12.5 4.2
Gross Revenue actual (JPY mn) 34 33 31 35 35 37 208
year-on-year (%) 1.5 2.6 4.2 2.3 6.7 11.6 4.8
    (Note) This property was acquired on May 23, 2014.
2018/01 2018/02 2018/03 2018/04 2018/05 2018/06 2018/01～06
Occupancy Rate actual (%) 87.1 91.8 87.7 75.0 59.6 43.7 74.0
year-on-year (points) 5.9 8.7 -4.1 -14.7 -29.2 -35.9 -11.7
ADR actual (JPY) 7,713 8,618 12,186 20,979 12,431 8,705 11,771
year-on-year (%) -25.4 -17.6 -23.1 -15.0 -15.8 -16.3 -19.6
RevPAR actual (JPY) 6,716 7,908 10,683 15,743 7,406 3,806 8,712
year-on-year (%) -20.0 -9.0 -26.6 -28.9 -43.5 -54.0 -30.6
Gross Revenue actual (JPY mn) 51 54 80 113 58 29 389
year-on-year (%) -17.8 -6.8 -25.2 -28.0 -40.6 -52.0 -29.0
2018/07 2018/08 2018/09 2018/10 2018/11 2018/12 2018/07～12
Occupancy Rate actual (%) 51.7 90.9 79.9 88.8 85.4 94.2 81.8
year-on-year (points) -28.3 -2.6 -13.2 -3.4 -9.6 0.4 -9.4
ADR actual (JPY) 10,140 9,157 9,428 12,405 18,505 9,494 11,556
year-on-year (%) -22.3 -20.2 -11.7 -11.4 -6.7 -11.4 -13.1
RevPAR actual (JPY) 5,241 8,326 7,528 11,021 15,810 8,947 9,455
year-on-year (%) -49.7 -22.5 -24.3 -14.7 -16.1 -11.0 -22.0
Gross Revenue actual (JPY mn) 41 65 57 85 114 69 433
year-on-year (%) -47.6 -20.3 -21.6 -12.1 -15.2 -9.2 -20.2
    (Note1) This property was acquired on July 17, 2014.
    (Note2) Renovation Period : May 7, 2018 - July 12, 2018
2018/01 2018/02 2018/03 2018/04 2018/05 2018/06 2018/01～06
Occupancy Rate actual (%) 81.8 89.0 86.8 94.2 80.9 95.6 88.0
year-on-year (points) -7.8 -4.8 -1.2 2.0 -11.9 5.0 -3.1
ADR actual (JPY) 8,506 9,418 12,031 10,437 10,446 8,141 9,827
year-on-year (%) -5.6 3.3 -3.5 0.7 1.1 2.0 -0.6
RevPAR actual (JPY) 6,961 8,384 10,443 9,837 8,451 7,784 8,646
year-on-year (%) -13.8 -1.9 -4.8 2.9 -11.9 7.7 -4.0
Gross Revenue actual (JPY mn) 44 52 69 69 57 54 348
year-on-year (%) -11.1 -4.8 -2.8 8.4 -11.8 4.5 -2.8
2018/07 2018/08 2018/09 2018/10 2018/11 2018/12 2018/07～12
Occupancy Rate actual (%) 92.6 92.4 94.6 93.4 93.1 92.0 93.0
year-on-year (points) 5.7 0.8 0.2 -0.8 3.6 7.3 2.8
ADR actual (JPY) 9,723 12,596 10,191 10,409 10,903 12,096 10,986
year-on-year (%) -2.2 1.2 11.2 4.5 -1.1 -0.8 2.0
RevPAR actual (JPY) 9,003 11,640 9,638 9,724 10,152 11,124 10,217
year-on-year (%) 4.3 2.0 11.5 3.6 2.8 7.7 5.1
Gross Revenue actual (JPY mn) 62 75 62 69 70 72 412
year-on-year (%) 5.9 4.6 14.2 4.8 7.7 12.3 8.0
    (Note1) This property was acquired on July 17, 2014.
    (Note2) Renovation Period : February 18, 2018 - March 13, 2018/ May 7, 2018 - May 30, 2018
2018/01 2018/02 2018/03 2018/04 2018/05 2018/06 2018/01～06
Occupancy Rate actual (%) 78.0 78.1 87.6 86.1 75.2 75.3 80.1
year-on-year (points) -14.2 -14.0 2.8 -4.8 -13.7 -19.1 -10.4
ADR actual (JPY) 12,839 14,388 19,259 16,260 16,502 13,329 15,551
year-on-year (%) -10.0 -2.5 -6.1 -3.1 -3.0 7.9 -2.2
RevPAR actual (JPY) 10,018 11,231 16,864 14,007 12,403 10,031 12,450
year-on-year (%) -23.9 -17.4 -2.9 -8.2 -18.0 -14.0 -13.4
Gross Revenue actual (JPY mn) 31 30 50 41 37 30 222
year-on-year (%) -22.5 -17.6 -2.9 -8.1 -18.3 -13.2 -13.2
2018/07 2018/08 2018/09 2018/10 2018/11 2018/12 2018/07～12
Occupancy Rate actual (%) 89.0 92.6 95.6 95.2 96.7 97.0 94.3
year-on-year (points) -0.5 -4.5 -0.6 -0.1 0.7 5.7 0.1
ADR actual (JPY) 16,860 21,490 16,234 18,504 19,292 21,215 18,962
year-on-year (%) 8.5 4.2 16.9 16.0 13.3 14.4 11.8
RevPAR actual (JPY) 15,011 19,903 15,524 17,615 18,664 20,569 17,890
year-on-year (%) 7.9 -0.7 16.2 15.9 14.1 21.5 12.0
Gross Revenue actual (JPY mn) 45 60 45 53 54 61 322
year-on-year (%) 8.2 -0.6 16.3 16.8 13.8 21.3 12.1
    (Note1) This property was acquired on July 17, 2014.
    (Note2) Renovation Period : January 12, 2018 - March 16, 2018 / April 9, 2018 - April 26, 2018 / May 7, 2018 - June 29, 2018
2018/01 2018/02 2018/03 2018/04 2018/05 2018/06 2018/01～06
Occupancy Rate actual (%) 87.8 65.9 90.1 94.7 72.5 72.8 80.8
year-on-year (points) 3.1 -26.8 -3.8 0.5 -18.4 -17.4 -10.2
ADR actual (JPY) 9,233 11,451 12,392 13,733 11,843 10,901 11,639
year-on-year (%) -21.9 -3.3 0.6 4.2 -0.8 -4.5 -3.8
RevPAR actual (JPY) 8,105 7,541 11,170 12,999 8,589 7,935 9,409
year-on-year (%) -19.0 -31.3 -3.5 4.8 -20.8 -23.0 -14.6
Gross Revenue actual (JPY mn) 47 41 61 67 50 46 315
year-on-year (%) -16.8 -26.8 -4.9 2.2 -17.7 -19.6 -13.4
2018/07 2018/08 2018/09 2018/10 2018/11 2018/12 2018/07～12
Occupancy Rate actual (%) 97.6 97.7 90.5 96.9 93.8 95.7 95.4
year-on-year (points) 8.2 2.5 -3.6 1.2 -3.9 -1.8 0.5
ADR actual (JPY) 11,202 11,747 10,462 11,656 13,340 11,941 11,727
year-on-year (%) -9.4 2.4 -0.6 -6.0 6.7 -2.1 -1.6
RevPAR actual (JPY) 10,928 11,478 9,467 11,299 12,514 11,430 11,188
year-on-year (%) -1.1 5.1 -4.4 -4.8 2.4 -3.9 -1.1
Gross Revenue actual (JPY mn) 60 62 52 62 66 62 367
year-on-year (%) -2.9 4.0 -3.2 -3.7 2.2 -2.9 -1.1
    (Note1) This property was acquired on July 17, 2014.
    (Note2) The name of this property was changed from "Hotel MyStays Dojima" as of March 10, 2018.
    (Note3) Renovation Period : January 17, 2018 - March 9, 2018 / May 6, 2018 - July 9, 2018
2018/01 2018/02 2018/03 2018/04 2018/05 2018/06 2018/01～06
Occupancy Rate actual (%) 90.1 91.1 92.3 94.5 90.4 89.2 91.3
year-on-year (points) -4.6 -4.6 -4.0 -1.5 -1.2 -4.5 -3.4
ADR actual (JPY) 6,537 8,059 8,019 7,434 7,972 7,605 7,599
year-on-year (%) 5.7 8.9 0.4 6.4 -2.2 6.4 4.0
RevPAR actual (JPY) 5,890 7,343 7,402 7,024 7,209 6,787 6,936
year-on-year (%) 0.5 3.7 -3.8 4.7 -3.5 1.3 0.2
Gross Revenue actual (JPY mn) 57 63 71 66 69 63 390
year-on-year (%) 0.7 3.5 -3.3 2.4 -3.6 -0.8 -0.4
2018/07 2018/08 2018/09 2018/10 2018/11 2018/12 2018/07～12
Occupancy Rate actual (%) 92.1 96.4 92.9 92.4 89.6 87.2 91.8
year-on-year (points) -5.3 -0.9 -0.1 -1.1 -5.7 -5.1 -3.0
ADR actual (JPY) 7,908 8,076 7,520 7,530 8,129 7,682 7,809
year-on-year (%) 1.4 -5.8 0.8 -10.5 -6.2 -11.6 -5.5
RevPAR actual (JPY) 7,284 7,788 6,986 6,957 7,280 6,700 7,166
year-on-year (%) -4.0 -6.6 0.7 -11.5 -11.8 -16.5 -8.6
Gross Revenue actual (JPY mn) 69 75 65 67 66 65 409
year-on-year (%) -6.0 -6.4 0.8 -9.7 -11.4 -15.0 -8.1
    (Note) This property was acquired on July 17, 2014.
2018/01 2018/02 2018/03 2018/04 2018/05 2018/06 2018/01～06
Occupancy Rate actual (%) 81.6 93.7 89.6 90.3 78.8 87.1 86.7
year-on-year (points) -7.6 1.4 0.2 -1.6 -6.3 -1.9 -2.7
ADR actual (JPY) 7,047 8,933 8,829 9,697 7,812 6,863 8,223
year-on-year (%) -10.5 0.4 -14.6 -15.5 -17.7 -13.5 -12.0
RevPAR actual (JPY) 5,752 8,372 7,907 8,760 6,160 5,977 7,132
year-on-year (%) -18.1 2.0 -14.4 -16.9 -23.8 -15.4 -14.7
Gross Revenue actual (JPY mn) 36 47 49 52 38 36 260
year-on-year (%) -17.6 1.8 -13.8 -16.6 -23.6 -14.6 -14.3
2018/07 2018/08 2018/09 2018/10 2018/11 2018/12 2018/07～12
Occupancy Rate actual (%) 93.7 91.3 86.9 91.0 88.3 91.1 90.4
year-on-year (points) 3.1 -2.4 -0.9 -1.0 -3.6 1.7 -0.5
ADR actual (JPY) 7,846 7,987 7,702 7,649 8,153 7,406 7,788
year-on-year (%) -15.0 -20.3 -14.7 -23.0 -22.4 -18.3 -19.2
RevPAR actual (JPY) 7,355 7,294 6,690 6,957 7,197 6,748 7,041
year-on-year (%) -12.1 -22.3 -15.6 -23.9 -25.4 -16.7 -19.6
Gross Revenue actual (JPY mn) 46 46 40 44 43 42 264
year-on-year (%) -10.4 -21.9 -14.9 -21.1 -24.5 -16.1 -18.4
    (Note) This property was acquired on July 17, 2014.
2018/01 2018/02 2018/03 2018/04 2018/05 2018/06 2018/01～06
Occupancy Rate actual (%) 91.2 90.6 92.0 90.5 86.1 90.4 90.1
year-on-year (points) 7.1 4.7 4.3 4.2 7.2 7.8 5.9
ADR actual (JPY) 6,203 7,693 8,140 8,135 8,182 6,997 7,551
year-on-year (%) 0.6 9.5 -4.5 -5.6 -6.2 -2.0 -2.1
RevPAR actual (JPY) 5,655 6,967 7,489 7,365 7,047 6,325 6,805
year-on-year (%) 9.1 15.4 0.2 -1.0 2.3 7.3 4.8
Gross Revenue actual (JPY mn) 38 42 50 48 47 41 267
year-on-year (%) 9.1 15.8 -0.4 -1.9 2.3 6.6 4.5
2018/07 2018/08 2018/09 2018/10 2018/11 2018/12 2018/07～12
Occupancy Rate actual (%) 92.2 93.2 89.4 89.7 91.7 89.2 90.9
year-on-year (points) 8.0 3.0 7.3 4.2 2.8 2.0 4.5
ADR actual (JPY) 7,485 8,469 7,710 7,887 8,011 8,061 7,940
year-on-year (%) -10.4 -4.0 -0.7 -8.9 4.3 -0.3 -3.6
RevPAR actual (JPY) 6,904 7,895 6,890 7,073 7,343 7,188 7,217
year-on-year (%) -2.0 -0.9 8.1 -4.4 7.6 2.0 1.4
Gross Revenue actual (JPY mn) 45 52 44 46 47 46 283
year-on-year (%) -3.6 -1.5 7.6 -4.1 5.5 1.7 0.6
    (Note) This property was acquired on July 17, 2014.
2018/01 2018/02 2018/03 2018/04 2018/05 2018/06 2018/01～06
Occupancy Rate actual (%) 86.4 93.8 91.1 93.0 90.9 91.9 91.1
year-on-year (points) 1.9 9.7 3.0 -1.5 1.6 1.1 2.5
ADR actual (JPY) 6,099 7,138 7,419 8,774 7,113 6,773 7,229
year-on-year (%) -4.2 -6.4 -5.8 3.7 -4.3 4.3 -2.1
RevPAR actual (JPY) 5,272 6,697 6,755 8,157 6,466 6,227 6,588
year-on-year (%) -2.1 4.4 -2.6 2.1 -2.6 5.5 0.7
Gross Revenue actual (JPY mn) 15 17 19 23 18 17 113
year-on-year (%) -1.0 6.3 -2.1 2.1 -3.0 5.7 1.2
2018/07 2018/08 2018/09 2018/10 2018/11 2018/12 2018/07～12
Occupancy Rate actual (%) 93.6 94.4 91.4 91.7 91.3 89.4 92.0
year-on-year (points) 0.0 2.5 -0.3 -2.4 -2.1 -1.4 -0.6
ADR actual (JPY) 7,216 7,008 6,810 7,774 8,123 7,935 7,473
year-on-year (%) 1.1 2.4 5.2 8.2 12.6 7.6 6.1
RevPAR actual (JPY) 6,753 6,617 6,224 7,127 7,415 7,093 6,872
year-on-year (%) 1.0 5.1 4.9 5.4 10.0 5.9 5.4
Gross Revenue actual (JPY mn) 19 19 17 20 21 20 119
year-on-year (%) 1.2 5.8 4.9 5.0 9.9 5.9 5.4
    (Note) This property was acquired on July 17, 2014.
2018/01 2018/02 2018/03 2018/04 2018/05 2018/06 2018/01～06
Occupancy Rate actual (%) 93.1 96.1 97.2 95.4 95.1 94.5 95.2
year-on-year (points) 0.6 0.3 0.9 -1.0 -0.7 -1.7 -0.3
ADR actual (JPY) 7,027 10,399 9,069 8,572 9,045 8,768 8,798
year-on-year (%) -9.2 12.4 5.2 10.5 4.1 14.0 6.2
RevPAR actual (JPY) 6,546 9,991 8,813 8,180 8,604 8,289 8,379
year-on-year (%) -8.6 12.7 6.2 9.4 3.4 12.0 5.9
Gross Revenue actual (JPY mn) 37 51 50 45 48 45 279
year-on-year (%) -7.2 11.3 6.1 9.1 3.1 12.0 5.8
2018/07 2018/08 2018/09 2018/10 2018/11 2018/12 2018/07～12
Occupancy Rate actual (%) 93.9 95.8 94.7 92.5 93.9 87.6 93.0
year-on-year (points) -2.3 -0.9 -2.0 -4.0 -2.8 -7.8 -3.3
ADR actual (JPY) 9,062 8,214 9,532 8,726 11,609 9,444 9,416
year-on-year (%) -0.7 -5.7 4.3 -12.9 19.4 -4.7 -0.2
RevPAR actual (JPY) 8,514 7,865 9,025 8,074 10,898 8,268 8,761
year-on-year (%) -3.2 -6.6 2.2 -16.5 15.9 -12.5 -3.7
Gross Revenue actual (JPY mn) 48 44 49 45 59 46 295
year-on-year (%) -2.5 -4.7 4.7 -15.4 16.7 -12.8 -2.6
    (Note) This property was acquired on July 17, 2014.
2018/01 2018/02 2018/03 2018/04 2018/05 2018/06 2018/01～06
Occupancy Rate actual (%) 88.7 93.9 94.2 96.7 95.4 93.4 93.7
year-on-year (points) 4.2 4.6 0.6 0.6 -0.4 6.2 2.6
ADR actual (JPY) 7,992 10,317 9,745 11,207 9,162 8,805 9,543
year-on-year (%) -4.8 4.5 -3.1 0.0 0.2 3.4 -0.2
RevPAR actual (JPY) 7,087 9,686 9,181 10,840 8,737 8,223 8,940
year-on-year (%) -0.1 9.9 -2.5 0.7 -0.3 10.7 2.7
Gross Revenue actual (JPY mn) 14 17 18 20 17 15 104
year-on-year (%) 1.6 9.4 -0.8 0.9 0.7 10.8 3.4
2018/07 2018/08 2018/09 2018/10 2018/11 2018/12 2018/07～12
Occupancy Rate actual (%) 96.1 94.1 92.7 92.3 93.1 85.0 92.2
year-on-year (points) 3.9 2.2 3.5 -0.9 1.0 -3.8 1.0
ADR actual (JPY) 9,509 9,704 9,582 9,832 10,729 10,740 10,001
year-on-year (%) -2.0 1.8 4.3 3.9 9.0 7.7 4.0
RevPAR actual (JPY) 9,140 9,131 8,878 9,080 9,983 9,125 9,221
year-on-year (%) 2.2 4.3 8.4 3.0 10.2 3.1 5.1
Gross Revenue actual (JPY mn) 18 18 17 17 19 18 108
year-on-year (%) 2.5 3.3 8.1 2.5 9.4 2.8 4.7
    (Note) This property was acquired on July 17, 2014.
2018/01 2018/02 2018/03 2018/04 2018/05 2018/06 2018/01～06
Occupancy Rate actual (%) 87.1 95.7 96.3 96.7 95.7 95.9 94.5
year-on-year (points) 2.5 2.9 1.4 0.2 3.0 4.7 2.5
ADR actual (JPY) 6,210 7,094 7,370 8,533 7,141 6,888 7,220
year-on-year (%) -11.5 -9.7 -8.7 -15.7 -10.9 -1.0 -10.2
RevPAR actual (JPY) 5,408 6,791 7,096 8,252 6,830 6,607 6,825
year-on-year (%) -8.9 -6.9 -7.4 -15.5 -8.0 4.1 -7.7
Gross Revenue actual (JPY mn) 12 13 16 18 15 14 90
year-on-year (%) -9.9 -6.9 -7.3 -15.3 -8.1 3.2 -8.0
2018/07 2018/08 2018/09 2018/10 2018/11 2018/12 2018/07～12
Occupancy Rate actual (%) 94.5 94.1 92.7 93.4 93.3 90.1 93.0
year-on-year (points) 3.5 1.5 1.2 -1.3 -1.9 0.0 0.5
ADR actual (JPY) 7,295 7,049 7,065 7,668 8,215 8,080 7,557
year-on-year (%) -2.8 -5.6 3.5 0.6 10.6 3.9 1.6
RevPAR actual (JPY) 6,893 6,636 6,552 7,160 7,667 7,280 7,030
year-on-year (%) 1.0 -4.1 4.9 -0.8 8.4 3.9 2.1
Gross Revenue actual (JPY mn) 15 15 14 16 16 16 94
year-on-year (%) 0.2 -3.8 4.2 -1.4 7.7 3.0 1.6
    (Note) This property was acquired on July 17, 2014.
2018/01 2018/02 2018/03 2018/04 2018/05 2018/06 2018/01～06
Occupancy Rate actual (%) 86.8 97.2 97.4 94.5 94.6 96.4 94.4
year-on-year (points) -1.0 0.8 1.2 -2.7 2.2 0.5 0.2
ADR actual (JPY) 7,685 9,148 8,554 9,986 8,584 8,302 8,712
year-on-year (%) -7.0 -5.4 -8.1 -14.0 -3.8 1.9 -6.6
RevPAR actual (JPY) 6,671 8,892 8,328 9,436 8,121 8,006 8,226
year-on-year (%) -8.0 -4.5 -6.9 -16.4 -1.5 2.5 -6.4
Gross Revenue actual (JPY mn) 11 13 14 15 13 13 82
year-on-year (%) -8.0 -4.8 -7.2 -16.5 -1.7 2.5 -6.6
2018/07 2018/08 2018/09 2018/10 2018/11 2018/12 2018/07～12
Occupancy Rate actual (%) 97.0 97.7 97.3 97.5 98.5 97.3 97.5
year-on-year (points) -0.1 2.5 4.7 0.4 2.1 4.1 2.3
ADR actual (JPY) 8,524 8,376 8,616 9,597 10,395 9,088 9,097
year-on-year (%) 4.6 4.9 7.0 -0.9 6.6 3.8 4.2
RevPAR actual (JPY) 8,264 8,184 8,387 9,361 10,238 8,843 8,875
year-on-year (%) 4.5 7.6 12.5 -0.5 8.9 8.4 6.6
Gross Revenue actual (JPY mn) 14 14 13 16 17 15 90
year-on-year (%) 4.7 8.2 12.7 -0.7 9.7 8.3 6.9
    (Note) This property was acquired on July 17, 2014.
2018/01 2018/02 2018/03 2018/04 2018/05 2018/06 2018/01～06
Occupancy Rate actual (%) 56.9 79.9 67.3 88.5 79.0 80.0 75.1
year-on-year (points) -7.6 -0.4 -9.5 -1.0 0.6 0.2 -3.0
ADR actual (JPY) 5,138 5,019 5,402 5,529 5,123 5,071 5,221
year-on-year (%) 0.8 -6.0 -1.0 -4.8 -3.2 8.2 -1.4
RevPAR actual (JPY) 2,923 4,009 3,635 4,893 4,047 4,058 3,920
year-on-year (%) -11.0 -6.5 -13.2 -5.9 -2.4 8.5 -5.2
Gross Revenue actual (JPY mn) 12 15 15 20 17 17 98
year-on-year (%) -11.4 -5.6 -13.2 -4.4 -1.5 10.0 -4.4
2018/07 2018/08 2018/09 2018/10 2018/11 2018/12 2018/07～12
Occupancy Rate actual (%) 83.1 76.3 77.0 82.1 77.0 74.5 78.3
year-on-year (points) 0.5 3.1 5.8 17.2 2.8 7.5 6.2
ADR actual (JPY) 5,297 5,498 5,574 5,685 6,235 6,092 5,720
year-on-year (%) 4.2 3.5 7.0 4.5 9.4 11.8 6.8
RevPAR actual (JPY) 4,401 4,198 4,289 4,668 4,799 4,540 4,482
year-on-year (%) 4.8 7.9 15.7 32.3 13.5 24.3 15.9
Gross Revenue actual (JPY mn) 18 17 17 19 19 18 111
year-on-year (%) 4.7 8.2 12.9 30.3 12.0 21.7 14.5
    (Note) This property was acquired on July 17, 2014.
2018/01 2018/02 2018/03 2018/04 2018/05 2018/06 2018/01～06
Occupancy Rate actual (%) 59.6 81.3 76.6 89.0 84.0 82.7 78.7
year-on-year (points) -0.1 -1.7 -0.2 -4.5 5.4 14.4 2.2
ADR actual (JPY) 5,615 6,433 6,075 6,623 6,059 5,479 6,069
year-on-year (%) -1.6 4.6 -4.3 -3.8 -6.3 0.3 -2.6
RevPAR actual (JPY) 3,349 5,227 4,654 5,893 5,089 4,531 4,779
year-on-year (%) -1.7 2.4 -4.6 -8.4 0.1 21.4 0.3
Gross Revenue actual (JPY mn) 11 16 15 19 17 14 95
year-on-year (%) -2.4 2.0 -3.9 -8.4 0.3 20.7 0.2
2018/07 2018/08 2018/09 2018/10 2018/11 2018/12 2018/07～12
Occupancy Rate actual (%) 82.5 83.2 82.1 83.3 83.6 84.1 83.1
year-on-year (points) 9.2 3.5 6.2 0.2 3.3 18.9 6.9
ADR actual (JPY) 5,593 5,896 6,105 6,319 6,441 6,208 6,093
year-on-year (%) 0.4 3.6 9.3 3.5 2.0 0.8 3.2
RevPAR actual (JPY) 4,617 4,906 5,010 5,263 5,386 5,218 5,065
year-on-year (%) 13.1 8.2 18.3 3.8 6.2 30.0 12.5
Gross Revenue actual (JPY mn) 15 16 16 17 17 17 101
year-on-year (%) 13.7 6.8 16.0 2.7 5.7 29.0 11.6
    (Note) This property was acquired on July 17, 2014.
2018/01 2018/02 2018/03 2018/04 2018/05 2018/06 2018/01～06
Occupancy Rate actual (%) 89.8 94.9 94.3 90.7 78.6 84.6 88.7
year-on-year (points) 0.0 0.0 0.0 -5.6 -11.7 -6.9 -4.1
ADR actual (JPY) 9,207 11,157 11,630 11,657 9,869 8,772 10,417
year-on-year (%) -7.4 3.5 -8.9 -12.7 -13.9 -10.9 -8.5
RevPAR actual (JPY) 8,267 10,592 10,968 10,573 7,759 7,425 9,245
year-on-year (%) -7.4 3.5 -8.9 -17.8 -25.1 -17.6 -12.6
Gross Revenue actual (JPY mn) 28 33 37 35 26 24 187
year-on-year (%) -7.2 3.4 -8.8 -17.7 -25.0 -17.7 -12.5
2018/07 2018/08 2018/09 2018/10 2018/11 2018/12 2018/07～12
Occupancy Rate actual (%) 86.9 90.8 69.4 81.8 86.3 84.4 83.3
year-on-year (points) -4.7 -3.5 -22.8 -12.2 -4.4 -5.7 -8.8
ADR actual (JPY) 9,883 11,004 8,958 8,918 10,609 10,531 10,037
year-on-year (%) -17.6 -16.6 -18.7 -20.6 -14.5 -11.4 -16.1
RevPAR actual (JPY) 8,590 9,994 6,216 7,299 9,159 8,885 8,365
year-on-year (%) -21.9 -19.7 -38.8 -30.9 -18.6 -17.0 -24.1
Gross Revenue actual (JPY mn) 29 34 21 25 30 30 172
year-on-year (%) -21.7 -19.3 -38.2 -30.8 -18.5 -16.7 -23.9
    (Note) This property was acquired on July 17, 2014.
2018/01 2018/02 2018/03 2018/04 2018/05 2018/06 2018/01～06
Occupancy Rate actual (%) 85.8 92.9 91.7 93.3 85.6 96.7 90.9
year-on-year (points) -1.2 0.8 3.3 0.1 -5.7 7.8 0.8
ADR actual (JPY) 6,220 6,758 7,152 8,445 6,827 6,217 6,942
year-on-year (%) -5.4 -5.6 -6.3 -8.9 -9.1 -3.6 -6.8
RevPAR actual (JPY) 5,337 6,275 6,557 7,882 5,846 6,010 6,312
year-on-year (%) -6.7 -4.8 -2.9 -8.8 -14.7 4.8 -6.0
Gross Revenue actual (JPY mn) 10 10 12 14 11 11 70
year-on-year (%) -4.3 -2.5 -2.1 -7.0 -11.4 4.9 -4.1
2018/07 2018/08 2018/09 2018/10 2018/11 2018/12 2018/07～12
Occupancy Rate actual (%) 96.0 96.8 96.3 96.2 95.4 88.6 94.9
year-on-year (points) 2.9 3.5 8.2 4.9 3.1 4.2 4.5
ADR actual (JPY) 6,622 6,951 6,816 6,517 6,823 7,179 6,813
year-on-year (%) -3.7 -0.5 2.2 -10.5 -7.1 -4.7 -4.2
RevPAR actual (JPY) 6,354 6,731 6,564 6,272 6,509 6,362 6,465
year-on-year (%) -0.6 3.2 11.8 -5.6 -4.0 0.0 0.5
Gross Revenue actual (JPY mn) 12 12 12 12 12 12 73
year-on-year (%) 1.4 4.7 12.1 -3.8 -2.7 -0.7 1.6
    (Note) This property was acquired on July 17, 2014.
2018/01 2018/02 2018/03 2018/04 2018/05 2018/06 2018/01～06
Occupancy Rate actual (%) 75.6 95.1 94.5 99.1 97.0 96.8 93.0
year-on-year (points) -0.7 5.3 2.2 6.9 10.5 7.4 5.3
ADR actual (JPY) 5,600 5,844 5,721 6,215 5,886 5,860 5,864
year-on-year (%) -0.4 -4.2 -5.7 -8.4 0.4 5.3 -2.4
RevPAR actual (JPY) 4,233 5,560 5,409 6,162 5,711 5,675 5,452
year-on-year (%) -1.3 1.5 -3.4 -1.5 12.6 14.0 3.4
Gross Revenue actual (JPY mn) 5 6 6 7 7 7 40
year-on-year (%) 0.1 2.7 0.3 -0.2 16.7 15.8 5.7
2018/07 2018/08 2018/09 2018/10 2018/11 2018/12 2018/07～12
Occupancy Rate actual (%) 97.7 94.5 93.2 92.6 96.1 94.2 94.7
year-on-year (points) 2.9 3.3 5.3 2.9 7.2 25.4 7.8
ADR actual (JPY) 5,713 5,597 5,810 5,916 6,205 6,006 5,873
year-on-year (%) -1.4 4.9 9.1 9.5 11.3 3.0 6.1
RevPAR actual (JPY) 5,580 5,291 5,413 5,480 5,961 5,658 5,563
year-on-year (%) 1.6 8.7 15.7 13.1 20.3 40.9 15.7
Gross Revenue actual (JPY mn) 7 6 6 6 7 7 41
year-on-year (%) 4.1 9.4 16.7 14.3 21.7 42.7 17.1
    (Note) This property was acquired on July 17, 2014.
2018/01 2018/02 2018/03 2018/04 2018/05 2018/06 2018/01～06
Occupancy Rate actual (%) 85.9 92.0 95.9 96.5 91.9 97.4 93.3
year-on-year (points) 0.7 2.1 0.4 5.8 9.7 14.8 5.6
ADR actual (JPY) 5,200 5,358 5,248 6,179 5,588 5,987 5,602
year-on-year (%) 3.2 -9.3 -7.1 -5.1 1.7 9.5 -1.4
RevPAR actual (JPY) 4,468 4,931 5,033 5,964 5,138 5,833 5,225
year-on-year (%) 4.1 -7.2 -6.7 0.9 13.7 29.1 4.9
Gross Revenue actual (JPY mn) 3 3 3 4 3 4 21
year-on-year (%) 3.4 -5.9 -7.2 1.0 16.2 31.6 5.6
2018/07 2018/08 2018/09 2018/10 2018/11 2018/12 2018/07～12
Occupancy Rate actual (%) 96.0 94.0 88.3 93.5 94.4 93.0 93.2
year-on-year (points) 0.1 3.4 -1.8 3.1 5.9 2.8 2.2
ADR actual (JPY) 5,544 5,357 5,642 5,447 5,863 5,625 5,577
year-on-year (%) -2.9 5.4 8.3 2.5 8.6 6.2 4.5
RevPAR actual (JPY) 5,324 5,035 4,983 5,096 5,534 5,229 5,200
year-on-year (%) -2.7 9.3 6.1 6.0 15.9 9.5 7.1
Gross Revenue actual (JPY mn) 3 3 3 3 3 3 21
year-on-year (%) -3.8 8.9 5.0 8.3 16.1 9.9 7.1
    (Note) This property was acquired on July 17, 2014.
2018/01 2018/02 2018/03 2018/04 2018/05 2018/06 2018/01～06
Occupancy Rate actual (%) 81.4 96.7 97.3 93.5 88.5 95.7 92.1
year-on-year (points) -7.0 0.3 0.8 -0.9 -0.6 6.8 -0.1
ADR actual (JPY) 5,988 7,076 6,843 7,688 7,726 7,372 7,130
year-on-year (%) 1.3 1.9 -7.2 1.7 2.3 8.1 1.3
RevPAR actual (JPY) 4,874 6,845 6,659 7,190 6,834 7,054 6,566
year-on-year (%) -6.8 2.2 -6.4 0.8 1.5 16.4 1.2
Gross Revenue actual (JPY mn) 71 90 97 101 99 99 559
year-on-year (%) -1.8 2.8 -5.9 0.6 1.5 15.9 2.0
2018/07 2018/08 2018/09 2018/10 2018/11 2018/12 2018/07～12
Occupancy Rate actual (%) 91.7 96.5 89.5 93.0 98.6 97.2 94.4
year-on-year (points) 2.9 2.4 5.3 10.2 23.0 10.4 9.0
ADR actual (JPY) 6,925 7,744 7,042 8,095 7,734 7,628 7,538
year-on-year (%) -0.2 5.3 -1.0 2.2 7.4 2.8 2.9
RevPAR actual (JPY) 6,348 7,474 6,303 7,530 7,629 7,416 7,118
year-on-year (%) 3.0 8.0 5.3 14.8 40.1 15.2 13.7
Gross Revenue actual (JPY mn) 92 108 89 109 107 107 614
year-on-year (%) 3.0 7.7 5.2 14.9 39.3 14.1 13.4
    (Note) This property was acquired on February 6, 2015.
2018/01 2018/02 2018/03 2018/04 2018/05 2018/06 2018/01～06
Occupancy Rate actual (%) 54.7 61.2 52.3 63.3 61.2 76.2 61.5
year-on-year (points) -5.8 -14.9 -15.7 -5.9 -22.9 -11.4 -12.7
ADR actual (JPY) 6,647 6,626 6,864 7,989 9,313 8,695 7,794
year-on-year (%) -4.6 -3.5 -8.6 3.7 -1.6 -0.9 -2.4
RevPAR actual (JPY) 3,639 4,055 3,592 5,053 5,704 6,627 4,792
year-on-year (%) -13.7 -22.4 -29.7 -5.1 -28.4 -13.8 -19.1
Gross Revenue actual (JPY mn) 27 28 27 36 43 48 211
year-on-year (%) -13.2 -21.3 -27.8 -4.8 -24.0 -9.1 -16.8
2018/07 2018/08 2018/09 2018/10 2018/11 2018/12 2018/07～12
Occupancy Rate actual (%) 89.0 93.3 70.5 68.8 60.3 72.2 75.8
year-on-year (points) -2.6 -0.3 -19.2 -14.3 -12.4 -4.8 -8.9
ADR actual (JPY) 9,871 11,033 9,664 9,179 7,465 7,320 9,253
year-on-year (%) 4.5 3.2 4.6 5.9 4.8 6.5 5.2
RevPAR actual (JPY) 8,787 10,293 6,811 6,311 4,498 5,287 7,012
year-on-year (%) 1.5 2.9 -17.7 -12.3 -13.1 -0.2 -5.8
Gross Revenue actual (JPY mn) 64 74 49 47 34 41 311
year-on-year (%) 5.6 6.3 -14.6 -7.8 -8.5 5.3 -1.8
    (Note1) This property was acquired on February 6, 2015.
    (Note2) Renovation Period : February 14, 2018 - April 30, 2018
    (Note3) The name of this property was changed from "Hotel Nets Hakodate" as of May 1, 2018.
2018/01 2018/02 2018/03 2018/04 2018/05 2018/06 2018/01～06
Occupancy Rate actual (%) 63.2 86.6 82.2 92.2 89.1 88.0 83.4
year-on-year (points) -15.4 -2.0 -3.9 -1.3 -3.0 0.4 -4.3
ADR actual (JPY) 6,719 7,206 6,914 8,497 7,066 6,864 7,245
year-on-year (%) 8.6 1.6 -5.0 2.4 2.1 4.9 2.4
RevPAR actual (JPY) 4,244 6,238 5,685 7,836 6,298 6,041 6,044
year-on-year (%) -12.7 -0.7 -9.3 1.0 -1.2 5.4 -2.6
Gross Revenue actual (JPY mn) 11 15 15 20 17 16 95
year-on-year (%) -14.6 -0.4 -9.4 1.6 -1.3 4.6 -2.8
2018/07 2018/08 2018/09 2018/10 2018/11 2018/12 2018/07～12
Occupancy Rate actual (%) 86.1 86.4 86.7 90.6 85.8 80.7 86.1
year-on-year (points) 1.2 9.4 14.8 1.3 2.9 4.8 5.7
ADR actual (JPY) 7,237 6,777 6,538 7,109 7,587 7,194 7,072
year-on-year (%) 6.0 0.7 -0.3 -1.7 3.0 -1.1 0.9
RevPAR actual (JPY) 6,231 5,858 5,666 6,443 6,509 5,805 6,085
year-on-year (%) 7.5 13.0 20.3 -0.3 6.6 5.2 8.1
Gross Revenue actual (JPY mn) 16 15 14 17 16 15 98
year-on-year (%) 6.8 13.8 21.1 0.6 7.0 6.5 8.7
    (Note) This property was acquired on February 6, 2015.
2018/01 2018/02 2018/03 2018/04 2018/05 2018/06 2018/01～06
Occupancy Rate actual (%) 94.7 95.9 94.4 95.0 93.1 95.8 94.8
year-on-year (points) 0.1 -0.6 -1.8 -2.4 -2.2 -0.5 -1.2
ADR actual (JPY) 9,284 11,758 10,976 13,031 10,700 10,691 11,056
year-on-year (%) -5.2 5.8 -3.9 -4.0 -4.9 6.3 -1.3
RevPAR actual (JPY) 8,790 11,280 10,360 12,377 9,958 10,242 10,479
year-on-year (%) -5.1 5.2 -5.7 -6.3 -7.1 5.7 -2.6
Gross Revenue actual (JPY mn) 53 61 62 72 60 60 370
year-on-year (%) -1.3 7.2 -3.6 -6.1 -4.8 8.0 -0.6
2018/07 2018/08 2018/09 2018/10 2018/11 2018/12 2018/07～12
Occupancy Rate actual (%) 96.2 95.8 96.1 95.2 97.5 96.1 96.1
year-on-year (points) 1.1 0.9 4.1 -0.4 2.3 3.7 1.9
ADR actual (JPY) 11,064 11,019 11,203 11,356 12,133 10,996 11,293
year-on-year (%) -0.7 -3.9 2.3 -5.3 8.0 -1.5 -0.3
RevPAR actual (JPY) 10,648 10,556 10,761 10,813 11,826 10,572 10,858
year-on-year (%) 0.5 -2.9 6.8 -5.7 10.7 2.5 1.7
Gross Revenue actual (JPY mn) 64 64 62 65 69 63 389
year-on-year (%) 1.3 -1.8 7.3 -4.3 10.6 1.1 2.2
    (Note) This property was acquired on July 16, 2015.
2018/01 2018/02 2018/03 2018/04 2018/05 2018/06 2018/01～06
Occupancy Rate actual (%) 86.5 88.8 88.7 94.1 91.1 94.7 90.6
year-on-year (points) 13.6 4.2 -0.8 -1.5 6.2 7.0 4.8
ADR actual (JPY) 5,634 6,215 6,119 7,046 6,097 5,863 6,165
year-on-year (%) -4.2 1.0 -2.6 -1.6 -1.3 3.7 -1.2
RevPAR actual (JPY) 4,872 5,521 5,428 6,627 5,555 5,554 5,588
year-on-year (%) 13.6 6.0 -3.5 -3.2 5.9 11.9 4.3
Gross Revenue actual (JPY mn) 43 44 48 56 49 47 288
year-on-year (%) 14.1 6.1 -2.3 -2.9 6.2 11.2 4.6
2018/07 2018/08 2018/09 2018/10 2018/11 2018/12 2018/07～12
Occupancy Rate actual (%) 95.4 93.2 94.4 93.0 92.9 90.7 93.3
year-on-year (points) 4.2 4.2 4.9 -1.0 -2.3 1.1 1.9
ADR actual (JPY) 6,073 6,170 6,075 6,510 6,933 6,929 6,443
year-on-year (%) 3.5 4.7 6.4 7.0 14.4 11.2 7.8
RevPAR actual (JPY) 5,795 5,754 5,735 6,055 6,440 6,284 6,010
year-on-year (%) 8.3 9.7 12.3 5.9 11.7 12.6 10.0
Gross Revenue actual (JPY mn) 51 50 48 52 54 54 312
year-on-year (%) 7.8 8.5 11.7 5.0 10.4 11.6 9.1
    (Note 1) This property was acquired on July 16, 2015.
2018/01 2018/02 2018/03 2018/04 2018/05 2018/06 2018/01～06
Occupancy Rate actual (%) 91.5 95.2 96.2 96.3 93.8 96.5 94.9
year-on-year (points) 3.7 1.5 -0.3 -0.3 -1.0 0.9 0.7
ADR actual (JPY) 8,235 9,783 10,225 12,483 9,696 8,846 9,886
year-on-year (%) -8.5 -3.4 -2.1 -4.5 -5.3 0.9 -4.0
RevPAR actual (JPY) 7,534 9,311 9,834 12,024 9,097 8,536 9,381
year-on-year (%) -4.6 -1.8 -2.4 -4.8 -6.3 1.9 -3.2
Gross Revenue actual (JPY mn) 23 25 29 35 27 25 166
year-on-year (%) -4.6 -2.1 -3.1 -5.2 -6.8 1.9 -3.5
2018/07 2018/08 2018/09 2018/10 2018/11 2018/12 2018/07～12
Occupancy Rate actual (%) 95.1 95.6 94.4 95.2 95.6 91.2 94.5
year-on-year (points) 1.4 2.7 0.0 0.4 0.3 -1.0 0.6
ADR actual (JPY) 9,847 9,363 9,450 10,512 10,816 10,742 10,118
year-on-year (%) 2.2 0.1 7.7 4.0 6.8 3.6 4.0
RevPAR actual (JPY) 9,363 8,949 8,923 10,005 10,344 9,799 9,563
year-on-year (%) 3.7 3.0 7.7 4.4 7.2 2.4 4.7
Gross Revenue actual (JPY mn) 28 27 26 30 30 29 173
year-on-year (%) 3.3 3.2 8.3 4.5 6.7 2.3 4.6
    (Note) This property was acquired on July 16, 2015.
2018/01 2018/02 2018/03 2018/04 2018/05 2018/06 2018/01～06
Occupancy Rate actual (%) 91.4 92.0 91.7 95.2 94.8 97.1 93.7
year-on-year (points) 10.1 3.2 2.5 -0.5 7.0 3.7 4.4
ADR actual (JPY) 5,631 6,494 6,569 6,808 5,697 5,505 6,107
year-on-year (%) -4.7 2.1 -4.4 -8.4 -5.9 0.1 -4.1
RevPAR actual (JPY) 5,147 5,977 6,024 6,484 5,402 5,346 5,724
year-on-year (%) 7.2 5.8 -1.7 -8.9 1.5 4.0 0.6
Gross Revenue actual (JPY mn) 29 30 34 36 31 30 192
year-on-year (%) 8.4 5.4 -0.6 -7.6 2.4 4.0 1.4
2018/07 2018/08 2018/09 2018/10 2018/11 2018/12 2018/07～12
Occupancy Rate actual (%) 97.2 96.0 93.8 94.2 93.8 91.2 94.4
year-on-year (points) 1.4 4.5 2.0 -0.9 -1.2 -1.3 0.8
ADR actual (JPY) 5,641 5,887 6,347 6,496 7,113 7,139 6,424
year-on-year (%) 0.7 -0.4 8.5 -0.1 7.2 8.5 4.0
RevPAR actual (JPY) 5,484 5,651 5,950 6,120 6,676 6,513 6,063
year-on-year (%) 2.3 4.5 10.9 -1.0 5.9 7.0 4.8
Gross Revenue actual (JPY mn) 32 32 32 34 36 36 205
year-on-year (%) 2.1 3.9 9.9 -0.9 5.9 6.3 4.4
    (Note) This property was acquired on July 16, 2015.
2018/01 2018/02 2018/03 2018/04 2018/05 2018/06 2018/01～06
Occupancy Rate actual (%) 72.5 85.1 86.7 82.2 74.6 72.6 78.9
year-on-year (points) -2.1 -1.2 -3.0 2.2 -9.3 -3.3 -2.8
ADR actual (JPY) 6,631 6,769 7,239 6,670 7,129 6,142 6,781
year-on-year (%) 6.9 5.3 -2.2 1.8 -2.6 1.9 1.3
RevPAR actual (JPY) 4,805 5,761 6,274 5,483 5,316 4,461 5,347
year-on-year (%) 4.0 3.9 -5.5 4.6 -13.4 -2.6 -2.2
Gross Revenue actual (JPY mn) 24 26 32 27 27 22 160
year-on-year (%) 3.7 3.4 -6.0 2.3 -14.4 -2.0 -2.8
2018/07 2018/08 2018/09 2018/10 2018/11 2018/12 2018/07～12
Occupancy Rate actual (%) 78.2 89.9 77.5 84.3 85.9 74.2 81.7
year-on-year (points) -4.4 -3.0 -7.5 4.8 6.7 -4.2 -1.3
ADR actual (JPY) 7,009 7,844 6,503 6,493 6,707 6,515 6,869
year-on-year (%) 3.1 -1.5 0.0 -1.2 -4.1 -1.6 -1.0
RevPAR actual (JPY) 5,484 7,051 5,043 5,472 5,760 4,832 5,609
year-on-year (%) -2.4 -4.7 -8.9 4.7 4.0 -6.9 -2.5
Gross Revenue actual (JPY mn) 28 36 24 28 28 24 172
year-on-year (%) -3.0 -6.5 -9.3 3.1 2.1 -6.4 -3.5
    (Note) This property was acquired on July 16, 2015.
    (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.
2018/01 2018/02 2018/03 2018/04 2018/05 2018/06 2018/01～06
Occupancy Rate actual (%) 78.2 88.6 90.9 93.8 90.7 89.5 88.6
year-on-year (points) -4.0 -1.3 -0.1 1.6 4.2 3.7 0.7
ADR actual (JPY) 4,809 5,425 5,562 6,252 4,990 4,864 5,331
year-on-year (%) -6.5 -4.9 -5.8 -11.0 -10.6 -4.7 -7.5
RevPAR actual (JPY) 3,762 4,808 5,058 5,861 4,527 4,351 4,723
year-on-year (%) -11.0 -6.3 -5.9 -9.5 -6.3 -0.6 -6.8
Gross Revenue actual (JPY mn) 10 12 14 16 13 12 79
year-on-year (%) -8.6 -3.1 -3.6 -4.4 -3.6 2.6 -3.5
2018/07 2018/08 2018/09 2018/10 2018/11 2018/12 2018/07～12
Occupancy Rate actual (%) 90.8 92.4 93.2 91.0 93.1 88.4 91.5
year-on-year (points) 3.6 2.5 3.3 -4.7 2.3 -4.0 0.5
ADR actual (JPY) 5,030 5,208 5,265 5,304 5,457 5,603 5,310
year-on-year (%) -6.9 -6.3 6.3 4.2 6.1 6.0 1.3
RevPAR actual (JPY) 4,569 4,815 4,906 4,826 5,083 4,954 4,857
year-on-year (%) -3.1 -3.7 10.2 -1.0 8.9 1.3 1.9
Gross Revenue actual (JPY mn) 13 13 13 13 13 14 82
year-on-year (%) -0.6 -1.3 13.1 -0.3 6.6 1.8 3.0
    (Note) This property was acquired on July 16, 2015.
2018/01 2018/02 2018/03 2018/04 2018/05 2018/06 2018/01～06
Occupancy Rate actual (%) 94.1 97.8 98.6 98.0 96.1 97.0 96.9
year-on-year (points) -0.5 -0.3 0.5 -0.6 -0.8 0.1 -0.3
ADR actual (JPY) 6,781 7,311 7,407 7,780 8,624 7,687 7,604
year-on-year (%) 1.2 6.7 1.8 13.4 3.7 12.4 6.4
RevPAR actual (JPY) 6,382 7,151 7,302 7,626 8,291 7,458 7,370
year-on-year (%) 0.7 6.3 2.3 12.7 2.9 12.6 6.1
Gross Revenue actual (JPY mn) 52 52 64 54 56 60 341
year-on-year (%) -0.8 14.9 0.1 -6.0 8.6 10.2 4.0
2018/07 2018/08 2018/09 2018/10 2018/11 2018/12 2018/07～12
Occupancy Rate actual (%) 97.6 99.0 95.8 96.5 96.8 97.1 97.1
year-on-year (points) 0.7 -0.2 -1.8 0.9 -1.0 0.7 -0.1
ADR actual (JPY) 7,441 8,541 8,412 9,775 9,648 7,470 8,540
year-on-year (%) 4.7 6.5 4.2 -2.4 -8.7 4.5 0.7
RevPAR actual (JPY) 7,263 8,454 8,056 9,432 9,343 7,249 8,295
year-on-year (%) 5.4 6.3 2.3 -1.5 -9.6 5.2 0.6
Gross Revenue actual (JPY mn) 54 48 50 60 63 59 337
year-on-year (%) 5.4 3.2 -6.3 -4.5 -10.0 0.3 -2.6
    (Note) This property was acquired on July 16, 2015.
2018/01 2018/02 2018/03 2018/04 2018/05 2018/06 2018/01～06
Occupancy Rate actual (%) 67.1 87.0 88.9 94.9 90.4 94.7 87.1
year-on-year (points) -6.7 5.2 3.2 -0.1 0.4 1.6 0.5
ADR actual (JPY) 5,261 5,704 5,308 6,117 5,422 5,067 5,486
year-on-year (%) 6.8 5.9 -1.2 2.1 -1.9 -1.1 1.5
RevPAR actual (JPY) 3,529 4,963 4,717 5,808 4,903 4,798 4,778
year-on-year (%) -2.8 12.7 2.5 1.9 -1.5 0.5 2.1
Gross Revenue actual (JPY mn) 7 9 9 11 10 9 58
year-on-year (%) -3.8 12.7 3.3 2.1 -2.0 0.5 2.0
2018/07 2018/08 2018/09 2018/10 2018/11 2018/12 2018/07～12
Occupancy Rate actual (%) 93.3 94.1 91.9 87.7 91.3 87.0 90.9
year-on-year (points) -0.1 0.6 1.6 -0.2 5.6 17.7 4.2
ADR actual (JPY) 5,207 5,266 5,221 5,454 5,387 5,503 5,337
year-on-year (%) 1.2 -0.7 -0.1 -0.5 -5.0 -4.0 -1.3
RevPAR actual (JPY) 4,858 4,956 4,797 4,783 4,916 4,790 4,850
year-on-year (%) 1.2 -0.1 1.7 -0.7 1.2 20.6 3.5
Gross Revenue actual (JPY mn) 10 10 9 10 10 10 61
year-on-year (%) 0.5 -0.5 2.1 0.3 2.9 22.4 4.0
    (Note) This property was acquired on July 16, 2015.
    (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.
2018/01 2018/02 2018/03 2018/04 2018/05 2018/06 2018/01～06
Occupancy Rate actual (%) 64.8 84.2 80.1 96.7 95.6 93.4 85.7
year-on-year (points) 4.7 0.9 -9.4 -0.7 18.5 11.4 4.3
ADR actual (JPY) 4,514 5,002 4,907 5,310 5,006 4,557 4,902
year-on-year (%) -0.7 1.6 -0.2 -0.5 -4.3 -4.8 -1.6
RevPAR actual (JPY) 2,926 4,209 3,932 5,133 4,788 4,258 4,202
year-on-year (%) 7.1 2.6 -10.6 -1.2 18.7 8.5 3.5
Gross Revenue actual (JPY mn) 6 7 7 10 9 8 50
year-on-year (%) 7.2 3.0 -11.1 -1.8 22.0 11.3 4.4
2018/07 2018/08 2018/09 2018/10 2018/11 2018/12 2018/07～12
Occupancy Rate actual (%) 87.5 88.6 89.0 92.2 89.2 86.8 88.9
year-on-year (points) -4.0 0.1 -4.6 -1.2 2.5 8.1 0.2
ADR actual (JPY) 4,558 4,651 4,810 4,959 4,947 4,347 4,714
year-on-year (%) -8.7 -2.8 0.2 -3.8 -5.7 -12.7 -5.6
RevPAR actual (JPY) 3,986 4,118 4,283 4,574 4,412 3,775 4,190
year-on-year (%) -12.7 -2.7 -4.7 -5.0 -3.0 -3.7 -5.4
Gross Revenue actual (JPY mn) 8 8 8 9 8 7 51
year-on-year (%) -11.8 -2.0 -3.6 -3.7 -2.3 -2.1 -4.4
    (Note) This property was acquired on July 16, 2015.
2018/01 2018/02 2018/03 2018/04 2018/05 2018/06 2018/01～06
Occupancy Rate actual (%) 72.9 89.4 82.1 94.4 89.2 85.1 85.4
year-on-year (points) 4.6 2.3 -5.7 -0.3 -1.9 0.0 -0.2
ADR actual (JPY) 4,997 5,641 5,311 5,932 5,307 5,071 5,392
year-on-year (%) -3.6 3.5 0.6 4.2 -0.8 5.0 1.6
RevPAR actual (JPY) 3,642 5,042 4,362 5,602 4,735 4,315 4,606
year-on-year (%) 2.9 6.3 -5.9 3.9 -2.9 4.9 1.4
Gross Revenue actual (JPY mn) 25 31 30 37 33 29 187
year-on-year (%) 3.0 5.8 -6.9 4.5 -1.7 4.0 1.3
2018/07 2018/08 2018/09 2018/10 2018/11 2018/12 2018/07～12
Occupancy Rate actual (%) 90.6 88.3 90.3 86.9 88.9 84.2 88.2
year-on-year (points) 5.1 5.9 19.6 6.1 4.3 3.1 7.3
ADR actual (JPY) 5,093 5,040 4,843 5,215 5,273 5,430 5,146
year-on-year (%) -1.3 -0.6 -8.0 -2.2 -1.6 3.5 -1.7
RevPAR actual (JPY) 4,613 4,450 4,374 4,533 4,688 4,572 4,539
year-on-year (%) 4.6 6.4 17.6 5.2 3.3 7.4 7.1
Gross Revenue actual (JPY mn) 32 31 29 31 31 31 187
year-on-year (%) 5.1 7.6 19.2 6.1 3.7 7.2 7.8
    (Note) This property was acquired on August 28, 2015.
    (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.
2018/01 2018/02 2018/03 2018/04 2018/05 2018/06 2018/01～06
Occupancy Rate actual (%) 86.6 97.9 97.7 95.5 96.2 95.5 94.8
year-on-year (points) -8.5 1.1 0.0 -1.2 0.4 -1.3 -1.6
ADR actual (JPY) 10,900 12,825 13,135 14,305 11,785 11,023 12,344
year-on-year (%) -14.4 -1.0 -11.0 -16.4 -13.8 -6.3 -10.8
RevPAR actual (JPY) 9,441 12,553 12,829 13,660 11,335 10,526 11,706
year-on-year (%) -22.0 0.0 -11.0 -17.4 -13.5 -7.5 -12.4
Gross Revenue actual (JPY mn) 16 19 22 22 19 18 118
year-on-year (%) -23.1 -2.4 -12.5 -18.9 -15.2 -6.4 -13.6
2018/07 2018/08 2018/09 2018/10 2018/11 2018/12 2018/07～12
Occupancy Rate actual (%) 94.9 96.2 89.4 94.6 94.6 94.6 94.1
year-on-year (points) -2.2 -0.5 -6.5 -3.5 -3.5 -1.4 -2.9
ADR actual (JPY) 11,443 12,049 9,494 11,223 13,057 12,506 11,653
year-on-year (%) -15.4 -13.7 -25.2 -24.1 -17.3 -16.0 -18.4
RevPAR actual (JPY) 10,862 11,595 8,486 10,613 12,347 11,826 10,961
year-on-year (%) -17.3 -14.2 -30.2 -26.8 -20.2 -17.3 -20.8
Gross Revenue actual (JPY mn) 19 20 15 18 21 21 116
year-on-year (%) -16.0 -12.6 -27.3 -24.9 -18.9 -15.9 -19.1
    (Note) This property was acquired on January 22, 2016.
    (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.
2018/01 2018/02 2018/03 2018/04 2018/05 2018/06 2018/01～06
Occupancy Rate actual (%) 91.8 94.7 94.4 94.8 91.8 94.7 93.7
year-on-year (points) -1.3 -1.3 -0.1 -2.6 -3.2 -1.5 -1.7
ADR actual (JPY) 9,880 11,487 10,800 12,701 10,860 10,003 10,949
year-on-year (%) 6.6 3.2 -1.5 1.7 5.4 5.6 3.3
RevPAR actual (JPY) 9,067 10,883 10,195 12,042 9,968 9,472 10,256
year-on-year (%) 5.1 1.8 -1.6 -1.1 1.9 4.0 1.5
Gross Revenue actual (JPY mn) 122 132 137 155 133 124 805
year-on-year (%) 17.9 16.5 11.3 12.9 16.2 19.0 15.4
2018/07 2018/08 2018/09 2018/10 2018/11 2018/12 2018/07～12
Occupancy Rate actual (%) 95.8 91.6 93.4 93.4 93.4 94.5 93.7
year-on-year (points) 0.6 -1.5 -1.7 -3.0 -1.1 -1.6 -1.4
ADR actual (JPY) 10,649 10,443 10,483 11,290 12,526 11,205 11,095
year-on-year (%) 6.2 4.7 5.9 3.4 11.4 4.0 5.6
RevPAR actual (JPY) 10,200 9,565 9,794 10,546 11,698 10,590 10,395
year-on-year (%) 6.8 3.0 3.9 0.2 10.1 2.2 4.0
Gross Revenue actual (JPY mn) 136 128 128 141 150 141 827
year-on-year (%) 20.3 18.3 19.4 7.2 9.2 1.2 11.9
    (Note 1) INV acquired the entire portion of the Main Building and a portion of the Annex Building on March 31, 2016, and additionally acquired additional floors of the Annex Building after conversion from office space on October 31, 2017
    (Note 2) The number of rooms in this property has increased due to conversion from a locker room in Main Building (1 room) as well asconversion from an office space in Annex Building (49 rooms) on October 16, 2017
2018/01 2018/02 2018/03 2018/04 2018/05 2018/06 2018/01～06
Occupancy Rate actual (%) 62.1 71.2 91.4 87.6 80.5 81.0 79.1
year-on-year (points) -3.9 7.8 3.0 2.5 3.6 3.4 2.6
ADR actual (JPY) 22,556 17,764 21,347 20,191 24,477 19,837 21,089
year-on-year (%) 4.5 6.1 5.8 3.1 0.7 6.8 4.1
RevPAR actual (JPY) 14,005 12,654 19,501 17,694 19,707 16,059 16,681
year-on-year (%) -1.7 19.1 9.4 6.0 5.5 11.4 7.6
Gross Revenue actual (JPY mn) 387 365 515 471 524 487 2,752
year-on-year (%) 0.0 12.9 -0.1 -0.9 2.0 5.0 2.6
2018/07 2018/08 2018/09 2018/10 2018/11 2018/12 2018/07～12
Occupancy Rate actual (%) 94.5 100.0 99.4 96.5 93.7 78.6 93.7
year-on-year (points) -0.3 0.0 0.1 2.7 -0.5 1.1 0.7
ADR actual (JPY) 27,924 47,008 23,812 22,769 21,309 23,813 28,082
year-on-year (%) 1.0 1.8 5.8 1.2 -0.1 3.6 1.8
RevPAR actual (JPY) 26,384 47,008 23,679 21,983 19,969 18,707 26,320
year-on-year (%) 0.6 1.8 5.9 4.2 -0.6 5.0 2.5
Gross Revenue actual (JPY mn) 604 852 600 619 554 505 3,737
year-on-year (%) -1.8 1.8 4.0 0.6 -7.2 2.6 0.0
    (Note) This property was acquired on March 31, 2016.
2018/01 2018/02 2018/03 2018/04 2018/05 2018/06 2018/01～06
Occupancy Rate actual (%) 93.4 95.5 95.7 93.8 95.8 94.3 94.8
year-on-year (points) -1.3 -2.4 -1.2 -2.7 -1.4 -2.0 -1.8
ADR actual (JPY) 7,610 10,975 10,389 9,397 9,653 9,639 9,597
year-on-year (%) -1.2 23.6 16.2 17.3 8.7 20.5 14.2
RevPAR actual (JPY) 7,110 10,484 9,941 8,817 9,244 9,090 9,093
year-on-year (%) -2.5 20.6 14.7 14.0 7.1 18.1 12.1
Gross Revenue actual (JPY mn) 53 68 72 62 67 63 387
year-on-year (%) -1.3 20.9 15.9 13.2 6.5 17.4 12.1
2018/07 2018/08 2018/09 2018/10 2018/11 2018/12 2018/07～12
Occupancy Rate actual (%) 90.8 92.6 94.2 92.2 92.6 90.3 92.1
year-on-year (points) -6.2 -2.9 -0.2 -3.8 -1.1 -4.8 -3.2
ADR actual (JPY) 9,843 8,979 9,844 9,468 12,539 10,054 10,110
year-on-year (%) 5.0 2.2 5.1 -8.8 21.6 -8.3 2.5
RevPAR actual (JPY) 8,937 8,312 9,274 8,733 11,612 9,082 9,313
year-on-year (%) -1.7 -0.9 4.9 -12.5 20.2 -12.9 -0.9
Gross Revenue actual (JPY mn) 65 61 65 64 81 66 403
year-on-year (%) -1.2 -0.7 5.4 -11.4 19.8 -12.2 -0.5
    (Note) This property was acquired on March 31, 2016.
2018/01 2018/02 2018/03 2018/04 2018/05 2018/06 2018/01～06
Occupancy Rate actual (%) 95.2 97.4 95.2 95.6 98.0 98.3 96.6
year-on-year (points) 5.9 1.6 -0.8 -1.2 2.3 5.7 2.2
ADR actual (JPY) 9,057 10,776 10,780 13,072 10,668 10,217 10,750
year-on-year (%) -5.5 -0.7 -4.8 -5.3 -2.2 -0.1 -3.5
RevPAR actual (JPY) 8,620 10,494 10,267 12,491 10,455 10,039 10,383
year-on-year (%) 0.8 1.0 -5.7 -6.5 0.1 6.0 -1.2
Gross Revenue actual (JPY mn) 28 31 33 39 34 31 198
year-on-year (%) 0.9 1.1 -6.0 -6.1 0.1 5.9 -1.2
2018/07 2018/08 2018/09 2018/10 2018/11 2018/12 2018/07～12
Occupancy Rate actual (%) 98.5 98.0 97.7 96.3 94.9 96.8 97.0
year-on-year (points) 2.2 1.8 3.6 -0.6 -1.8 0.0 0.9
ADR actual (JPY) 10,875 10,553 10,669 11,651 13,386 11,546 11,429
year-on-year (%) -0.7 4.3 3.2 1.3 18.8 6.3 5.4
RevPAR actual (JPY) 10,708 10,345 10,421 11,225 12,702 11,177 11,091
year-on-year (%) 1.6 6.2 7.1 0.7 16.6 6.3 6.4
Gross Revenue actual (JPY mn) 35 33 33 36 40 36 215
year-on-year (%) 1.9 6.2 7.0 0.6 16.1 5.7 6.2
    (Note) This property was acquired on March 31, 2016.
2018/01 2018/02 2018/03 2018/04 2018/05 2018/06 2018/01～06
Occupancy Rate actual (%) 90.9 93.5 91.2 90.3 90.0 87.5 90.5
year-on-year (points) 4.4 7.1 -0.1 1.2 -1.3 -1.7 1.5
ADR actual (JPY) 8,136 10,244 12,292 13,656 13,556 9,852 11,300
year-on-year (%) 2.8 11.7 1.6 11.0 -1.4 1.1 3.7
RevPAR actual (JPY) 7,392 9,573 11,216 12,335 12,196 8,622 10,230
year-on-year (%) 7.9 20.8 1.6 12.4 -2.8 -0.8 5.5
Gross Revenue actual (JPY mn) 74 84 106 113 114 84 578
year-on-year (%) 8.3 18.9 2.5 12.1 -1.3 1.8 6.2
2018/07 2018/08 2018/09 2018/10 2018/11 2018/12 2018/07～12
Occupancy Rate actual (%) 89.8 96.6 94.8 94.4 93.5 88.0 92.8
year-on-year (points) -0.6 3.7 2.4 0.8 -2.3 -2.0 0.3
ADR actual (JPY) 10,853 14,637 13,839 13,671 14,858 10,713 13,132
year-on-year (%) -5.0 2.8 9.9 3.4 6.8 0.2 3.4
RevPAR actual (JPY) 9,747 14,145 13,113 12,906 13,891 9,423 12,190
year-on-year (%) -5.6 6.9 12.8 4.2 4.3 -2.0 3.8
Gross Revenue actual (JPY mn) 94 130 118 120 124 91 679
year-on-year (%) -4.1 6.6 11.4 3.6 3.9 -0.5 3.7
    (Note) This property was acquired on June 15, 2016.
2018/01 2018/02 2018/03 2018/04 2018/05 2018/06 2018/01～06
Occupancy Rate actual (%) 89.9 93.9 92.4 94.2 92.9 95.4 93.1
year-on-year (points) 19.8 -0.1 -2.4 1.8 4.7 9.5 5.6
ADR actual (JPY) 15,029 16,913 17,800 21,977 17,252 16,190 17,537
year-on-year (%) -4.3 12.9 2.7 -3.1 -1.6 2.6 0.6
RevPAR actual (JPY) 13,506 15,886 16,451 20,707 16,032 15,452 16,327
year-on-year (%) 22.7 12.8 0.1 -1.2 3.6 13.9 7.1
Gross Revenue actual (JPY mn) 55 58 66 80 65 61 389
year-on-year (%) 18.2 11.3 -1.9 2.2 5.7 13.5 7.1
2018/07 2018/08 2018/09 2018/10 2018/11 2018/12 2018/07～12
Occupancy Rate actual (%) 92.7 94.0 95.4 94.8 94.6 95.5 94.5
year-on-year (points) 2.4 3.0 5.9 2.2 1.8 6.0 3.6
ADR actual (JPY) 19,183 19,447 17,136 18,894 20,184 20,200 19,178
year-on-year (%) 8.0 4.5 11.5 4.6 16.4 1.6 7.4
RevPAR actual (JPY) 17,781 18,276 16,341 17,918 19,085 19,299 18,121
year-on-year (%) 10.8 7.9 18.9 7.0 18.7 8.5 11.6
Gross Revenue actual (JPY mn) 72 74 65 72 74 77 437
year-on-year (%) 9.8 8.5 17.3 7.3 18.1 8.6 11.3
    (Note ) This property was acquired on May 29, 2017.
2018/01 2018/02 2018/03 2018/04 2018/05 2018/06 2018/01～06
Occupancy Rate actual (%) 86.3 96.9 91.7 93.0 86.1 93.1 91.0
year-on-year (points) 1.9 1.1 2.3 -0.5 -6.0 0.7 -0.1
ADR actual (JPY) 7,002 8,376 9,291 9,424 7,998 6,965 8,188
year-on-year (%) -6.0 3.9 -7.7 -11.6 -8.5 -6.8 -6.5
RevPAR actual (JPY) 6,043 8,113 8,519 8,760 6,884 6,483 7,455
year-on-year (%) -3.9 5.1 -5.2 -12.0 -14.4 -6.1 -6.6
Gross Revenue actual (JPY mn) 110 132 150 147 122 118 781
year-on-year (%) 4.0 11.0 3.2 -9.1 -10.5 -3.4 -1.4
2018/07 2018/08 2018/09 2018/10 2018/11 2018/12 2018/07～12
Occupancy Rate actual (%) 96.7 92.3 82.7 92.9 94.7 86.1 90.9
year-on-year (points) 5.3 -3.1 -9.3 -1.8 -2.6 -11.7 -3.8
ADR actual (JPY) 7,747 8,116 7,707 8,026 8,925 7,918 8,079
year-on-year (%) -9.5 -10.0 -7.2 -9.6 -7.8 -8.4 -8.7
RevPAR actual (JPY) 7,494 7,491 6,375 7,454 8,451 6,820 7,347
year-on-year (%) -4.2 -12.9 -16.6 -11.4 -10.3 -19.3 -12.4
Gross Revenue actual (JPY mn) 139 125 115 138 152 124 795
year-on-year (%) 3.9 -7.1 -9.6 -6.0 -1.0 -11.7 -5.2
    (Note 1) This property was acquired on October 13, 2017.
2018/01 2018/02 2018/03 2018/04 2018/05 2018/06 2018/01～06
Occupancy Rate actual (%) 88.8 93.8 93.8 94.5 89.2 94.9 92.4
year-on-year (points) 17.8 1.1 -1.7 -0.7 -1.1 9.0 4.1
ADR actual (JPY) 10,709 11,935 13,705 16,144 12,535 11,874 12,843
year-on-year (%) -3.2 6.0 2.8 -0.9 -3.8 5.1 0.1
RevPAR actual (JPY) 9,506 11,189 12,850 15,253 11,183 11,272 11,871
year-on-year (%) 21.0 7.2 1.0 -1.6 -5.0 16.1 4.7
Gross Revenue actual (JPY mn) 76 80 102 116 91 88 555
year-on-year (%) 24.7 11.3 3.1 0.2 0.3 18.9 8.0
2018/07 2018/08 2018/09 2018/10 2018/11 2018/12 2018/07～12
Occupancy Rate actual (%) 92.2 95.8 96.4 94.4 96.5 92.0 94.5
year-on-year (points) 2.3 5.5 6.5 -0.7 1.2 1.0 2.6
ADR actual (JPY) 13,747 13,665 11,347 12,490 13,747 14,118 13,184
year-on-year (%) 6.6 -0.3 5.4 3.5 12.3 8.1 5.8
RevPAR actual (JPY) 12,677 13,089 10,938 11,785 13,260 12,983 12,459
year-on-year (%) 9.4 5.8 13.1 2.7 13.7 9.3 8.8
Gross Revenue actual (JPY mn) 101 103 86 95 102 103 592
year-on-year (%) 11.3 6.8 15.3 3.1 12.2 8.7 9.3
    (Note 1) This property was acquired on October 13, 2017.
2018/01 2018/02 2018/03 2018/04 2018/05 2018/06 2018/01～06
Occupancy Rate actual (%) 95.2 89.2 95.7 88.5 86.0 83.1 89.7
year-on-year (points) 4.3 -0.4 0.4 -1.3 -3.2 -1.5 -0.3
ADR actual (JPY) 9,816 10,994 11,887 10,757 10,969 8,706 10,549
year-on-year (%) 4.5 25.0 17.7 15.7 9.2 8.7 13.3
RevPAR actual (JPY) 9,345 9,805 11,376 9,517 9,436 7,235 9,459
year-on-year (%) 9.5 24.4 18.1 13.9 5.3 6.8 13.0
Gross Revenue actual (JPY mn) 140 133 173 138 137 106 829
year-on-year (%) 7.6 18.8 12.5 11.3 0.9 1.0 8.7
2018/07 2018/08 2018/09 2018/10 2018/11 2018/12 2018/07～12
Occupancy Rate actual (%) 80.1 92.0 87.4 89.1 90.6 85.0 87.3
year-on-year (points) -3.5 1.6 0.5 -2.5 -4.8 -9.4 -3.0
ADR actual (JPY) 10,532 14,179 10,569 10,416 11,992 12,886 11,798
year-on-year (%) 2.7 7.0 18.4 9.8 19.8 26.1 13.8
RevPAR actual (JPY) 8,431 13,043 9,242 9,276 10,860 10,949 10,303
year-on-year (%) -1.6 8.9 19.0 6.8 13.7 13.6 9.9
Gross Revenue actual (JPY mn) 122 189 133 143 160 172 922
year-on-year (%) -2.0 9.7 26.8 18.1 13.1 16.5 13.2
    (Note 1) This property was acquired on October 13, 2017.
2018/01 2018/02 2018/03 2018/04 2018/05 2018/06 2018/01～06
Occupancy Rate actual (%) 95.5 98.1 93.3 82.3 87.9 93.1 91.6
year-on-year (points) 2.8 2.4 6.8 16.7 9.8 3.7 7.1
ADR actual (JPY) 7,702 14,053 7,526 7,261 9,257 11,732 9,591
year-on-year (%) -8.4 11.7 5.5 6.5 -3.7 3.8 1.9
RevPAR actual (JPY) 7,357 13,779 7,018 5,978 8,134 10,928 8,789
year-on-year (%) -5.6 14.5 13.8 33.6 8.4 8.1 10.5
Gross Revenue actual (JPY mn) 58 96 56 47 64 83 405
year-on-year (%) -12.8 6.2 2.6 21.7 11.3 9.2 5.3
2018/07 2018/08 2018/09 2018/10 2018/11 2018/12 2018/07～12
Occupancy Rate actual (%) 94.7 94.0 64.0 86.2 89.6 96.6 87.6
year-on-year (points) 0.3 -3.3 -31.9 -7.8 2.1 1.0 -6.5
ADR actual (JPY) 14,276 14,696 11,715 9,487 8,594 9,754 11,466
year-on-year (%) 1.3 7.1 1.6 1.7 10.9 4.9 4.1
RevPAR actual (JPY) 13,517 13,815 7,494 8,174 7,701 9,422 10,047
year-on-year (%) 1.6 3.4 -32.2 -6.7 13.6 6.0 -3.2
Gross Revenue actual (JPY mn) 105 108 58 65 59 74 471
year-on-year (%) 2.4 4.1 -30.6 -5.9 14.2 6.6 -2.3
    (Note 1) This property was acquired on October 13, 2017.
2018/01 2018/02 2018/03 2018/04 2018/05 2018/06 2018/01～06
Occupancy Rate actual (%) - 97.7 95.2 92.6 93.1 94.8 94.5
year-on-year (points) - - -2.2 -3.3 1.9 2.7 -
ADR actual (JPY) - 9,053 8,973 9,541 9,501 8,874 9,193
year-on-year (%) - - -5.4 -4.0 -3.9 8.7 -
RevPAR actual (JPY) - 8,848 8,540 8,837 8,849 8,411 8,689
year-on-year (%) - - -7.5 -7.3 -1.9 11.9 -
Gross Revenue actual (JPY mn) - 33 44 44 46 42 211
year-on-year (%) - - -7.6 -7.1 -2.0 11.5 -
2018/07 2018/08 2018/09 2018/10 2018/11 2018/12 2018/07～12
Occupancy Rate actual (%) 94.3 96.6 94.8 91.0 92.7 91.5 93.5
year-on-year (points) 2.9 3.1 3.5 -2.9 -4.8 -3.7 -0.3
ADR actual (JPY) 8,582 9,909 8,795 10,563 9,680 10,020 9,588
year-on-year (%) -5.6 -1.0 1.9 -1.3 12.6 8.2 2.1
RevPAR actual (JPY) 8,097 9,572 8,340 9,613 8,976 9,168 8,964
year-on-year (%) -2.6 2.3 5.8 -4.4 7.0 4.0 1.8
Gross Revenue actual (JPY mn) 42 50 42 50 45 48 279
year-on-year (%) -2.3 2.4 5.8 -4.3 7.3 4.0 1.9
    (Note 1) This property was acquired on February ７, 2018. Therefore the figures for February 2018 are the results of 22 days of operation from February ７, 2018 to February 28, 2018.
2018/01 2018/02 2018/03 2018/04 2018/05 2018/06 2018/01～06
Occupancy Rate actual (%) - 71.6 71.6 79.6 74.5 75.0 74.6
year-on-year (points) - - 2.1 3.8 10.0 -2.2 -
ADR actual (JPY) - 7,634 7,545 10,098 8,138 7,712 8,288
year-on-year (%) - - 8.3 12.3 4.0 8.3 -
RevPAR actual (JPY) - 5,469 5,400 8,040 6,066 5,786 6,184
year-on-year (%) - - 11.6 18.0 20.2 5.2 -
Gross Revenue actual (JPY mn) - 45 79 101 77 77 381
year-on-year (%) - - 10.4 21.3 -4.2 -16.8 -
2018/07 2018/08 2018/09 2018/10 2018/11 2018/12 2018/07～12
Occupancy Rate actual (%) 80.9 86.9 75.7 83.4 77.4 65.5 78.3
year-on-year (points) 3.8 3.1 -4.3 -5.9 -0.4 -14.0 -3.0
ADR actual (JPY) 7,901 8,719 7,114 7,607 7,362 7,071 7,673
year-on-year (%) 5.4 5.3 -1.7 -0.6 -5.9 -6.9 -0.2
RevPAR actual (JPY) 6,393 7,579 5,387 6,344 5,702 4,631 6,011
year-on-year (%) 10.6 9.2 -7.0 -7.2 -6.4 -23.3 -3.8
Gross Revenue actual (JPY mn) 86 89 87 90 91 74 519
year-on-year (%) 6.4 6.8 -0.7 0.6 6.2 -7.4 2.0
    (Note 1) This property was acquired on February ７, 2018. Therefore the figures for February 2018 are the results of 22 days of operation from February ７, 2018 to February 28, 2018.
2018/01 2018/02 2018/03 2018/04 2018/05 2018/06 2018/01～06
Occupancy Rate actual (%) - 70.1 64.7 79.0 82.4 79.7 75.4
year-on-year (points) - - -6.8 2.8 1.1 -5.0 -
ADR actual (JPY) - 8,514 6,877 15,341 10,272 8,540 10,119
year-on-year (%) - - 1.9 8.0 -3.8 16.2 -
RevPAR actual (JPY) - 5,969 4,452 12,112 8,464 6,807 7,634
year-on-year (%) - - -7.8 11.9 -2.5 9.2 -
Gross Revenue actual (JPY mn) - 57 85 110 95 83 433
year-on-year (%) - - -13.8 1.0 -12.5 10.8 -
2018/07 2018/08 2018/09 2018/10 2018/11 2018/12 2018/07～12
Occupancy Rate actual (%) 80.0 92.2 82.3 84.4 73.0 55.9 78.0
year-on-year (points) -2.8 -1.0 -6.5 -4.3 -2.6 -5.8 -3.8
ADR actual (JPY) 8,383 14,255 9,098 10,711 7,697 7,395 9,876
year-on-year (%) 7.6 7.0 7.9 15.5 3.0 10.6 9.2
RevPAR actual (JPY) 6,704 13,136 7,489 9,037 5,621 4,132 7,699
year-on-year (%) 4.0 5.9 0.0 9.9 -0.5 0.2 4.1
Gross Revenue actual (JPY mn) 98 120 105 111 92 80 608
year-on-year (%) 15.9 10.0 29.5 22.6 -1.1 -16.4 9.3
    (Note 1) This property was acquired on February ７, 2018. Therefore the figures for February 2018 are the results of 22 days of operation from February ７, 2018 to February 28, 2018.
2018/01 2018/02 2018/03 2018/04 2018/05 2018/06 2018/01～06
Occupancy Rate actual (%) - 95.3 96.9 94.1 90.8 92.3 93.8
year-on-year (points) - - 10.5 13.5 4.8 6.4 -
ADR actual (JPY) - 6,655 6,000 5,374 5,982 5,475 5,859
year-on-year (%) - - -3.4 2.6 -4.4 2.1 -
RevPAR actual (JPY) - 6,342 5,815 5,057 5,430 5,056 5,496
year-on-year (%) - - 8.3 19.8 1.0 9.8 -
Gross Revenue actual (JPY mn) - 22 28 24 27 24 127
year-on-year (%) - - 8.0 17.4 1.6 9.8 -
2018/07 2018/08 2018/09 2018/10 2018/11 2018/12 2018/07～12
Occupancy Rate actual (%) 86.9 92.4 91.8 89.1 94.1 88.9 90.5
year-on-year (points) 1.8 1.2 1.6 4.1 3.3 -2.2 1.6
ADR actual (JPY) 5,345 5,743 5,843 5,946 7,018 6,078 6,001
year-on-year (%) -2.9 -4.6 6.6 -10.7 6.5 4.0 -0.3
RevPAR actual (JPY) 4,645 5,305 5,362 5,299 6,604 5,402 5,430
year-on-year (%) -0.9 -3.4 8.4 -6.4 10.4 1.5 1.6
Gross Revenue actual (JPY mn) 23 26 25 26 31 27 161
year-on-year (%) -1.2 -3.1 7.9 -5.9 9.8 1.3 1.4
    (Note 1) This property was acquired on February ７, 2018. Therefore the figures for February 2018 are the results of 22 days of operation from February ７, 2018 to February 28, 2018.
2018/01 2018/02 2018/03 2018/04 2018/05 2018/06 2018/01～06
Occupancy Rate actual (%) - - - - - 99.5 99.5
year-on-year (points) - - - - - - -
ADR actual (JPY) - - - - - 9,740 9,740
year-on-year (%) - - - - - - -
RevPAR actual (JPY) - - - - - 9,696 9,696
year-on-year (%) - - - - - - -
Gross Revenue actual (JPY mn) - - - - - 4 4
year-on-year (%) - - - - - - -
2018/07 2018/08 2018/09 2018/10 2018/11 2018/12 2018/07～12
Occupancy Rate actual (%) 98.4 95.9 97.4 97.2 96.7 98.5 97.3
year-on-year (points) 3.2 -0.9 -1.3 -2.0 -1.4 -0.4 -0.4
ADR actual (JPY) 9,922 9,582 10,113 10,797 11,908 11,044 10,557
year-on-year (%) 6.1 7.1 11.2 10.2 18.3 11.7 10.8
RevPAR actual (JPY) 9,759 9,188 9,850 10,490 11,518 10,879 10,276
year-on-year (%) 9.7 6.1 9.7 8.0 16.6 11.3 10.3
Gross Revenue actual (JPY mn) 33 31 32 35 38 37 209
year-on-year (%) 9.5 6.5 10.4 7.4 16.8 10.6 10.2
    (Note 1) This property was acquired on June 2７, 2018. Therefore the figures for June 2018 are the results of 4 days of operation from June 2７, 2018 to June 30, 2018.
2018/01 2018/02 2018/03 2018/04 2018/05 2018/06 2018/01～06
Occupancy Rate actual (%) - - - - - 86.8 86.8
year-on-year (points) - - - - - - -
ADR actual (JPY) - - - - - 8,193 8,193
year-on-year (%) - - - - - - -
RevPAR actual (JPY) - - - - - 7,110 7,110
year-on-year (%) - - - - - - -
Gross Revenue actual (JPY mn) - - - - - 4 4
year-on-year (%) - - - - - - -
2018/07 2018/08 2018/09 2018/10 2018/11 2018/12 2018/07～12
Occupancy Rate actual (%) 95.0 94.9 93.3 95.6 96.1 93.9 94.8
year-on-year (points) 0.5 0.2 0.1 1.2 1.2 2.6 1.0
ADR actual (JPY) 8,419 8,983 8,632 8,531 8,806 9,268 8,773
year-on-year (%) 6.5 5.6 8.7 5.9 2.0 4.7 5.5
RevPAR actual (JPY) 8,001 8,521 8,054 8,153 8,466 8,702 8,317
year-on-year (%) 7.1 5.8 8.9 7.2 3.3 7.8 6.6
Gross Revenue actual (JPY mn) 31 33 31 32 32 34 195
year-on-year (%) 6.3 5.9 9.7 7.8 2.4 6.4 6.4
    (Note 1) This property was acquired on June 2７, 2018. Therefore the figures for June 2018 are the results of 4 days of operation from June 2７, 2018 to June 30, 2018.
2018/01 2018/02 2018/03 2018/04 2018/05 2018/06 2018/01～06
Occupancy Rate actual (%) - - - - - - -
year-on-year (points) - - - - - - -
ADR actual (JPY) - - - - - - -
year-on-year (%) - - - - - - -
RevPAR actual (JPY) - - - - - - -
year-on-year (%) - - - - - - -
Gross Revenue actual (JPY mn) - - - - - - -
year-on-year (%) - - - - - - -
2018/07 2018/08 2018/09 2018/10 2018/11 2018/12 2018/07～12
Occupancy Rate actual (%) - 91.2 92.7 96.5 97.2 94.7 94.5
year-on-year (points) - - -1.7 1.1 0.2 -0.6 -
ADR actual (JPY) - 11,994 12,421 14,042 15,462 13,493 13,514
year-on-year (%) - - 15.1 9.3 21.2 10.8 -
RevPAR actual (JPY) - 10,934 11,519 13,549 15,022 12,772 12,765
year-on-year (%) - - 13.1 10.6 21.4 10.1 -
Gross Revenue actual (JPY mn) - 116 119 143 153 135 669
year-on-year (%) - - 12.9 10.4 20.9 9.9 -
    (Note 1) This property was acquired on August 2, 2018. Therefore the figures for August 2018 are the results of 30 days of operation from August 2, 2018 to August 31, 2018.
2018/01 2018/02 2018/03 2018/04 2018/05 2018/06 2018/01～06
Occupancy Rate actual (%) - - - - - - -
year-on-year (points) - - - - - - -
ADR actual (JPY) - - - - - - -
year-on-year (%) - - - - - - -
RevPAR actual (JPY) - - - - - - -
year-on-year (%) - - - - - - -
Gross Revenue actual (JPY mn) - - - - - - -
year-on-year (%) - - - - - - -
2018/07 2018/08 2018/09 2018/10 2018/11 2018/12 2018/07～12
Occupancy Rate actual (%) - 96.9 60.6 82.4 86.3 89.8 83.3
year-on-year (points) - - -34.3 -2.0 14.7 10.2 -
ADR actual (JPY) - 17,181 11,992 9,468 8,630 9,994 11,546
year-on-year (%) - - -13.0 -7.6 2.1 3.7 -
RevPAR actual (JPY) - 16,644 7,270 7,804 7,449 8,976 9,612
year-on-year (%) - - -44.4 -9.9 23.1 16.9 -
Gross Revenue actual (JPY mn) - 274 124 152 144 180 877
year-on-year (%) - - -44.0 -9.9 22.4 13.7 -
    (Note 1) This property was acquired on August 2, 2018. Therefore the figures for August 2018 are the results of 30 days of operation from August 2, 2018 to August 31, 2018.
2018/01 2018/02 2018/03 2018/04 2018/05 2018/06 2018/01～06
Occupancy Rate actual (%) - - - - - - -
year-on-year (points) - - - - - - -
ADR actual (JPY) - - - - - - -
year-on-year (%) - - - - - - -
RevPAR actual (JPY) - - - - - - -
year-on-year (%) - - - - - - -
Gross Revenue actual (JPY mn) - - - - - - -
year-on-year (%) - - - - - - -
2018/07 2018/08 2018/09 2018/10 2018/11 2018/12 2018/07～12
Occupancy Rate actual (%) - 96.4 96.0 96.0 95.9 93.5 95.6
year-on-year (points) - - 3.7 -0.8 -1.3 1.5 -
ADR actual (JPY) - 9,230 9,383 10,524 10,787 10,591 10,105
year-on-year (%) - - 5.3 3.7 8.1 5.3 -
RevPAR actual (JPY) - 8,897 9,011 10,098 10,341 9,908 9,656
year-on-year (%) - - 9.5 2.8 6.7 7.0 -
Gross Revenue actual (JPY mn) - 40 41 47 47 46 223
year-on-year (%) - - 10.1 2.8 7.0 7.2 -
    (Note 1) This property was acquired on August 2, 2018. Therefore the figures for August 2018 are the results of 30 days of operation from August 2, 2018 to August 31, 2018.
2018/01 2018/02 2018/03 2018/04 2018/05 2018/06 2018/01～06
Occupancy Rate actual (%) - - - - - - -
year-on-year (points) - - - - - - -
ADR actual (JPY) - - - - - - -
year-on-year (%) - - - - - - -
RevPAR actual (JPY) - - - - - - -
year-on-year (%) - - - - - - -
Gross Revenue actual (JPY mn) - - - - - - -
year-on-year (%) - - - - - - -
2018/07 2018/08 2018/09 2018/10 2018/11 2018/12 2018/07～12
Occupancy Rate actual (%) - 93.0 73.8 87.2 84.3 89.2 85.5
year-on-year (points) - - - - - - -
ADR actual (JPY) - 10,833 9,074 10,053 11,434 10,557 10,430
year-on-year (%) - - - - - - -
RevPAR actual (JPY) - 10,070 6,694 8,765 9,638 9,416 8,919
year-on-year (%) - - - - - - -
Gross Revenue actual (JPY mn) - 34 22 30 32 32 152
year-on-year (%) - - - - - - -
    (Note 1) This property was acquired on August 2, 2018. Therefore the figures for August 2018 are the results of 30 days of operation from August 2, 2018 to August 31, 2018.
    (Note 2) Comparison for year-on-year is not made since the property was newly opened in December 2017.
2018/01 2018/02 2018/03 2018/04 2018/05 2018/06 2018/01～06
Occupancy Rate actual (%) - - - - - - -
year-on-year (points) - - - - - - -
ADR actual (USD) - - - - - - -
year-on-year (%) - - - - - - -
RevPAR actual (USD) - - - - - - -
year-on-year (%) - - - - - - -
Gross Revenue actual (USD'000) - - - - - - -
year-on-year (%) - - - - - - -
2018/07 2018/08 2018/09 2018/10 2018/11 2018/12 2018/07～12
Occupancy Rate actual (%) - - 44.6 66.0 86.8 88.0 79.1
year-on-year (points) - - - 12.2 6.8 -0.7 -
ADR actual (USD) - - 213 244 327 598 401
year-on-year (%) - - - 3.3 17.9 21.7 -
RevPAR actual (USD) - - 95 161 284 527 317
year-on-year (%) - - - 26.7 27.9 20.7 -
Gross Revenue actual (USD'000) - - 219 3,561 5,411 8,744 17,936
year-on-year (%) - - - 32.6 20.4 15.7 -
    (Note 1) This property was acquired on Septemer 28, 2018. Therefore the figures for September 2018 are the results of 3 days of operation from September 28, 2018 to September 30, 2018.
    (Note 2) Renovation Period (Rooms) : May 2017- November 2017.
2018/01 2018/02 2018/03 2018/04 2018/05 2018/06 2018/01～06
Occupancy Rate actual (%) - - - - - - -
year-on-year (points) - - - - - - -
ADR actual (USD) - - - - - - -
year-on-year (%) - - - - - - -
RevPAR actual (USD) - - - - - - -
year-on-year (%) - - - - - - -
Gross Revenue actual (USD'000) - - - - - - -
year-on-year (%) - - - - - - -
2018/07 2018/08 2018/09 2018/10 2018/11 2018/12 2018/07～12
Occupancy Rate actual (%) - - 68.5 72.0 84.8 91.2 82.2
year-on-year (points) - - - -0.5 -1.5 4.9 -
ADR actual (USD) - - 119 128 177 240 185
year-on-year (%) - - - 0.2 7.3 7.6 -
RevPAR actual (USD) - - 81 92 150 219 152
year-on-year (%) - - - -0.4 5.4 13.7 -
Gross Revenue actual (USD'000) - - 46 574 923 1,278 2,823
year-on-year (%) - - - -1.9 6.1 9.7 -
    (Note 1) This property was acquired on Septemer 28, 2018. Therefore the figures for September 2018 are the results of 3 days of operation from September 28, 2018 to September 30, 2018.

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