Hotel Performance

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Domestic Hotels Total
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
# of Properties (Note2) actual - 54(63) 54(63) 54(63) 54(63) 54(63) 54(63) 54(63)
Occupancy Rate actual (%) 84.5 89.6 90.8 90.5 88.1 88.5 88.6
ADR actual (JPY) 8,287 9,437 9,686 11,250 10,033 8,788 9,594
RevPAR actual (JPY) 6,999 8,460 8,793 10,180 8,838 7,778 8,503
Gross Revenue actual (JPY mn) 2,638 2,803 3,306 3,583 3,321 2,922 18,575
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
# of Properties (Note2) actual - 72 (81) 72 (81) 72 (81) 72 (81) 72 (81) 72 (81) 72 (81)
Occupancy Rate actual (%) 90.8 91.4 88.3 88.3 88.0 84.6 88.5
ADR actual (JPY) 10,167 12,181 9,468 9,548 9,658 8,906 10,010
RevPAR actual (JPY) 9,229 11,130 8,359 8,435 8,499 7,538 8,861
Gross Revenue actual (JPY mn) 3,948 5,410 4,173 4,326 4,290 3,961 26,109
Overseas Hotels Total
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
# of Properties (Note2) actual - 2 2 2 2 2 2 2
Occupancy Rate actual (%) 88.5 92.9 93.6 90.2 85.4 85.5 89.3
ADR actual (USD) 447 519 478 430 308 303 416
RevPAR actual (USD) 396 482 447 388 263 259 371
Gross Revenue actual (USD'000) 9,488 10,592 11,039 9,688 7,991 7,248 56,050
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
# of Properties (Note2) actual - 2 2 2 2 2 2 2
Occupancy Rate actual (%) 86.9 73.5 42.1 63.1 82.6 85.1 72.3
ADR actual (USD) 304 252 196 240 301 569 327
RevPAR actual (USD) 264 185 83 151 249 484 237
Gross Revenue actual (USD'000) 7,190 5,176 2,528 4,228 6,466 10,711 36,299
  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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2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
Occupancy Rate actual (%) 92.3 97.7 97.1 97.3 95.8 97.3 96.2
year-on-year (points) -4.1 -0.8 0.3 -1.0 0.2 0.2 -0.9
ADR actual (JPY) 7,794 8,409 9,483 11,064 8,631 7,807 8,875
year-on-year (%) 6.2 -5.0 8.4 0.9 -0.8 -6.8 0.6
RevPAR actual (JPY) 7,195 8,216 9,206 10,766 8,268 7,598 8,540
year-on-year (%) 1.7 -5.7 8.7 -0.1 -0.6 -6.6 -0.3
Gross Revenue actual (JPY mn) 28 29 36 40 32 29 196
year-on-year (%) 1.4 -6.2 8.9 -0.2 -0.4 -6.4 -0.4
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 97.3 96.5 92.7 93.4 96.6 89.3 94.3
year-on-year (points) 1.7 0.5 -4.7 -2.4 -0.7 -5.8 -1.9
ADR actual (JPY) 7,916 8,110 7,644 9,044 9,470 9,142 8,549
year-on-year (%) -14.5 -9.0 -12.6 -7.7 -9.5 -10.6 -10.6
RevPAR actual (JPY) 7,699 7,828 7,088 8,449 9,151 8,161 8,062
year-on-year (%) -13.0 -8.5 -16.8 -10.0 -10.2 -16.1 -12.4
Gross Revenue actual (JPY mn) 30 30 27 33 34 32 188
year-on-year (%) -12.2 -8.4 -16.8 -10.1 -9.7 -16.0 -12.2
    (Note1) This property was acquired on May 23, 2014.
    (Note2) Renovation Period : May 20, 2016 - August 22, 2016
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
Occupancy Rate actual (%) 91.4 94.0 95.3 96.3 92.8 94.3 94.0
year-on-year (points) 1.1 0.5 4.3 2.0 -1.1 -2.5 0.7
ADR actual (JPY) 5,853 6,572 7,227 8,561 6,717 5,922 6,820
year-on-year (%) 3.9 1.7 7.4 -0.6 2.9 -5.7 1.6
RevPAR actual (JPY) 5,351 6,177 6,886 8,244 6,232 5,584 6,411
year-on-year (%) 5.2 2.2 12.5 1.5 1.7 -8.1 2.4
Gross Revenue actual (JPY mn) 27 28 35 41 32 28 193
year-on-year (%) 5.1 0.7 12.1 2.8 1.4 -8.2 2.3
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 97.4 96.8 95.2 93.1 96.3 92.1 95.1
year-on-year (points) 0.2 -0.4 -1.6 -1.9 0.4 -1.5 -0.8
ADR actual (JPY) 6,283 5,968 5,862 6,466 6,506 6,419 6,249
year-on-year (%) -9.1 -9.2 -9.3 -11.6 -12.5 -17.1 -11.6
RevPAR actual (JPY) 6,119 5,778 5,582 6,023 6,262 5,912 5,946
year-on-year (%) -8.9 -9.6 -10.8 -13.3 -12.1 -18.4 -12.3
Gross Revenue actual (JPY mn) 31 30 28 31 31 30 182
year-on-year (%) -9.6 -9.8 -10.8 -12.6 -12.0 -17.6 -12.2
    (Note) This property was acquired on May 23, 2014.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
Occupancy Rate actual (%) 91.3 89.5 94.8 90.8 90.7 89.9 91.2
year-on-year (points) 4.2 -2.2 7.1 15.7 31.1 46.2 17.2
ADR actual (JPY) 7,185 7,626 11,996 17,354 11,659 8,303 10,731
year-on-year (%) -6.8 -11.5 -1.6 -17.3 -6.2 -4.6 -8.8
RevPAR actual (JPY) 6,557 6,827 11,367 15,753 10,576 7,465 9,786
year-on-year (%) -2.4 -13.7 6.4 0.1 42.8 96.1 12.3
Gross Revenue actual (JPY mn) 51 48 86 115 82 57 441
year-on-year (%) -0.6 -12.0 7.5 1.6 40.5 92.4 13.4
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 86.0 86.2 87.3 86.1 85.8 80.8 85.3
year-on-year (points) 34.3 -4.8 7.5 -2.7 0.3 -13.4 3.5
ADR actual (JPY) 9,396 9,514 7,939 10,652 13,897 7,833 9,874
year-on-year (%) -7.3 3.9 -15.8 -14.1 -24.9 -17.5 -14.6
RevPAR actual (JPY) 8,080 8,197 6,931 9,171 11,918 6,331 8,427
year-on-year (%) 54.2 -1.6 -7.9 -16.8 -24.6 -29.2 -10.9
Gross Revenue actual (JPY mn) 63 64 53 72 87 49 390
year-on-year (%) 52.3 -1.4 -6.4 -15.6 -23.2 -28.7 -9.9
    (Note1) This property was acquired on July 17, 2014.
    (Note2) Renovation Period : May 7, 2018 - July 12, 2018
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
Occupancy Rate actual (%) 85.4 92.3 95.0 90.7 90.9 86.6 90.1
year-on-year (points) 3.6 3.3 8.2 -3.6 10.0 -9.0 2.1
ADR actual (JPY) 9,169 9,027 12,138 11,524 10,110 8,492 10,130
year-on-year (%) 7.8 -4.1 0.9 10.4 -3.2 4.3 3.1
RevPAR actual (JPY) 7,830 8,331 11,534 10,449 9,187 7,357 9,130
year-on-year (%) 12.5 -0.6 10.4 6.2 8.7 -5.5 5.6
Gross Revenue actual (JPY mn) 51 51 73 75 64 53 369
year-on-year (%) 15.4 -2.8 5.1 9.3 11.3 -1.5 6.1
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 90.1 88.8 91.1 89.3 94.2 92.3 91.0
year-on-year (points) -2.5 -3.6 -3.4 -4.1 1.1 0.3 -2.0
ADR actual (JPY) 9,477 12,023 9,627 10,031 11,597 11,007 10,632
year-on-year (%) -2.5 -4.5 -5.5 -3.6 6.4 -9.0 -3.2
RevPAR actual (JPY) 8,541 10,676 8,772 8,959 10,923 10,159 9,670
year-on-year (%) -5.1 -8.3 -9.0 -7.9 7.6 -8.7 -5.4
Gross Revenue actual (JPY mn) 60 68 59 60 69 67 386
year-on-year (%) -2.4 -9.5 -3.5 -13.7 -1.0 -6.8 -6.3
    (Note1) This property was acquired on July 17, 2014.
    (Note2) Renovation Period : February 18, 2018 - March 13, 2018/ May 7, 2018 - May 30, 2018
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
Occupancy Rate actual (%) 96.2 97.4 98.3 97.3 97.1 97.6 97.3
year-on-year (points) 18.2 19.3 10.7 11.1 21.9 22.3 17.2
ADR actual (JPY) 13,959 14,802 20,482 18,300 15,570 12,535 15,975
year-on-year (%) 8.7 2.9 6.3 12.5 -5.7 -6.0 2.7
RevPAR actual (JPY) 13,434 14,414 20,129 17,798 15,112 12,233 15,544
year-on-year (%) 34.1 28.3 19.4 27.1 21.8 21.9 24.9
Gross Revenue actual (JPY mn) 41 40 60 52 46 36 278
year-on-year (%) 33.3 30.1 20.1 26.4 23.3 22.3 25.3
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 97.6 98.1 98.1 93.9 97.7 97.4 97.1
year-on-year (points) 8.6 5.4 2.5 -1.3 1.0 0.4 2.8
ADR actual (JPY) 15,416 20,647 15,242 17,449 18,310 18,564 17,615
year-on-year (%) -8.6 -3.9 -6.1 -5.7 -5.1 -12.5 -7.1
RevPAR actual (JPY) 15,052 20,247 14,954 16,380 17,896 18,078 17,108
year-on-year (%) 0.3 1.7 -3.7 -7.0 -4.1 -12.1 -4.4
Gross Revenue actual (JPY mn) 46 61 44 50 53 55 310
year-on-year (%) 1.0 2.1 -3.4 -6.5 -2.9 -10.8 -3.6
    (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
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
Occupancy Rate actual (%) 94.4 98.4 95.7 93.4 91.0 92.0 94.1
year-on-year (points) 6.6 32.5 5.5 -1.3 18.5 19.2 13.3
ADR actual (JPY) 9,357 10,512 12,351 14,059 11,898 11,187 11,556
year-on-year (%) 1.3 -8.2 -0.3 2.4 0.5 2.6 -0.7
RevPAR actual (JPY) 8,834 10,342 11,817 13,128 10,829 10,293 10,874
year-on-year (%) 9.0 37.1 5.8 1.0 26.1 29.7 15.6
Gross Revenue actual (JPY mn) 51 53 64 68 56 52 347
year-on-year (%) 7.3 28.2 5.5 0.8 12.1 14.5 10.1
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 94.7 94.4 95.4 93.7 92.1 92.8 93.9
year-on-year (points) -2.9 -3.3 4.9 -3.2 -1.7 -2.9 -1.6
ADR actual (JPY) 11,199 11,843 10,046 11,540 11,527 10,295 11,076
year-on-year (%) 0.0 0.8 -4.0 -1.0 -13.6 -13.8 -5.5
RevPAR actual (JPY) 10,604 11,177 9,583 10,814 10,620 9,555 10,395
year-on-year (%) -3.0 -2.6 1.2 -4.3 -15.1 -16.4 -7.1
Gross Revenue actual (JPY mn) 55 57 49 56 53 50 323
year-on-year (%) -8.3 -8.0 -6.5 -9.8 -18.8 -19.4 -12.0
    (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
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
Occupancy Rate actual (%) 85.3 91.2 89.7 93.1 88.4 90.1 89.6
year-on-year (points) -4.8 0.1 -2.6 -1.4 -2.0 0.9 -1.7
ADR actual (JPY) 6,227 6,931 7,095 8,443 7,428 6,667 7,145
year-on-year (%) -4.7 -14.0 -11.5 13.6 -6.8 -12.3 -6.0
RevPAR actual (JPY) 5,314 6,324 6,364 7,861 6,567 6,010 6,402
year-on-year (%) -9.8 -13.9 -14.0 11.9 -8.9 -11.5 -7.7
Gross Revenue actual (JPY mn) 52 55 61 71 63 57 361
year-on-year (%) -8.7 -12.1 -13.7 8.1 -8.1 -10.0 -7.4
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 88.4 94.8 92.2 92.9 95.5 87.0 91.8
year-on-year (points) -3.7 -1.7 -0.7 0.5 5.9 -0.2 0.0
ADR actual (JPY) 7,115 7,216 6,914 6,791 8,454 7,166 7,279
year-on-year (%) -10.0 -10.6 -8.1 -9.8 4.0 -6.7 -6.8
RevPAR actual (JPY) 6,291 6,838 6,378 6,309 8,072 6,233 6,681
year-on-year (%) -13.6 -12.2 -8.7 -9.3 10.9 -7.0 -6.8
Gross Revenue actual (JPY mn) 62 66 59 61 73 60 383
year-on-year (%) -10.6 -12.4 -8.9 -9.3 11.1 -6.6 -6.3
    (Note) This property was acquired on July 17, 2014.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
Occupancy Rate actual (%) 74.0 89.5 92.4 92.9 85.5 82.2 86.0
year-on-year (points) -7.6 -4.2 2.9 2.6 6.7 -4.8 -0.7
ADR actual (JPY) 6,134 6,595 6,495 8,114 7,007 6,585 6,849
year-on-year (%) -13.0 -26.2 -26.4 -16.3 -10.3 -4.0 -16.7
RevPAR actual (JPY) 4,540 5,906 6,002 7,540 5,993 5,416 5,893
year-on-year (%) -21.1 -29.5 -24.1 -13.9 -2.7 -9.4 -17.4
Gross Revenue actual (JPY mn) 28 33 37 45 38 33 218
year-on-year (%) -19.9 -28.4 -23.9 -13.9 -0.7 -7.4 -16.4
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 83.0 89.9 74.4 71.4 77.6 67.5 77.3
year-on-year (points) -10.7 -1.4 -12.5 -19.6 -10.7 -23.6 -13.1
ADR actual (JPY) 6,303 6,798 6,023 6,232 6,901 5,682 6,351
year-on-year (%) -19.7 -14.9 -21.8 -18.5 -15.4 -23.3 -18.4
RevPAR actual (JPY) 5,231 6,115 4,481 4,448 5,356 3,836 4,911
year-on-year (%) -28.9 -16.2 -33.0 -36.1 -25.6 -43.2 -30.2
Gross Revenue actual (JPY mn) 33 38 28 28 33 24 187
year-on-year (%) -27.9 -15.9 -30.7 -35.8 -23.7 -41.7 -29.1
    (Note) This property was acquired on July 17, 2014.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
Occupancy Rate actual (%) 91.6 95.0 95.8 94.0 63.3 52.6 82.0
year-on-year (points) 0.4 4.5 3.8 3.5 -22.8 -37.8 -8.2
ADR actual (JPY) 6,113 7,075 8,079 9,042 9,226 7,244 7,769
year-on-year (%) -1.4 -8.0 -0.7 11.1 12.8 3.5 2.9
RevPAR actual (JPY) 5,599 6,724 7,743 8,503 5,844 3,810 6,367
year-on-year (%) -1.0 -3.5 3.4 15.5 -17.1 -39.8 -6.4
Gross Revenue actual (JPY mn) 38 40 52 55 39 25 251
year-on-year (%) 0.7 -3.5 4.7 14.7 -16.6 -39.6 -6.0
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 75.0 96.0 94.1 93.3 92.9 91.7 90.5
year-on-year (points) -17.2 2.7 4.8 3.6 1.2 2.5 -0.4
ADR actual (JPY) 7,829 8,967 7,805 8,104 7,703 7,433 7,987
year-on-year (%) 4.6 5.9 1.2 2.7 -3.8 -7.8 0.6
RevPAR actual (JPY) 5,875 8,605 7,347 7,559 7,152 6,813 7,228
year-on-year (%) -14.9 9.0 6.6 6.9 -2.6 -5.2 0.2
Gross Revenue actual (JPY mn) 39 58 48 51 47 46 291
year-on-year (%) -13.7 11.5 8.5 10.1 0.1 -1.7 2.7
    (Note1) This property was acquired on July 17, 2014.
    (Note 2) Renovation Period: May 6, 2019 - July 19, 2019.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
Occupancy Rate actual (%) 86.7 92.4 94.0 92.3 90.3 94.4 91.7
year-on-year (points) 0.3 -1.4 2.9 -0.7 -0.6 2.5 0.5
ADR actual (JPY) 6,413 7,097 7,751 9,075 6,936 6,092 7,233
year-on-year (%) 5.2 -0.6 4.5 3.4 -2.5 -10.0 0.1
RevPAR actual (JPY) 5,561 6,560 7,286 8,376 6,265 5,752 6,630
year-on-year (%) 5.5 -2.0 7.8 2.7 -3.1 -7.6 0.6
Gross Revenue actual (JPY mn) 16 17 21 23 18 16 113
year-on-year (%) 4.4 -3.6 8.5 2.8 -3.2 -7.6 0.4
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 94.4 92.9 92.1 92.5 92.0 90.5 92.4
year-on-year (points) 0.8 -1.5 0.7 0.9 0.7 1.1 0.4
ADR actual (JPY) 6,234 6,204 5,989 6,751 7,260 7,014 6,571
year-on-year (%) -13.6 -11.5 -12.1 -13.2 -10.6 -11.6 -12.1
RevPAR actual (JPY) 5,886 5,765 5,517 6,247 6,677 6,345 6,073
year-on-year (%) -12.8 -12.9 -11.4 -12.3 -10.0 -10.5 -11.6
Gross Revenue actual (JPY mn) 17 16 15 18 18 18 105
year-on-year (%) -12.7 -13.0 -11.0 -11.2 -10.1 -10.7 -11.4
    (Note) This property was acquired on July 17, 2014.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
Occupancy Rate actual (%) 90.1 90.7 95.3 89.0 93.9 94.0 92.2
year-on-year (points) -3.0 -5.4 -1.8 -6.4 -1.2 -0.5 -3.0
ADR actual (JPY) 7,580 10,030 8,583 9,402 9,386 8,068 8,819
year-on-year (%) 7.9 -3.5 -5.4 9.7 3.8 -8.0 0.2
RevPAR actual (JPY) 6,833 9,095 8,183 8,366 8,811 7,587 8,132
year-on-year (%) 4.4 -9.0 -7.1 2.3 2.4 -8.5 -3.0
Gross Revenue actual (JPY mn) 39 46 46 46 50 42 270
year-on-year (%) 3.4 -8.6 -6.8 2.2 2.3 -8.2 -2.9
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 92.8 92.8 88.6 95.2 94.4 92.3 92.7
year-on-year (points) -1.2 -3.0 -6.0 2.6 0.5 4.7 -0.4
ADR actual (JPY) 7,700 7,880 7,044 7,211 8,316 7,166 7,556
year-on-year (%) -15.0 -4.1 -26.1 -17.4 -28.4 -24.1 -19.8
RevPAR actual (JPY) 7,144 7,313 6,244 6,861 7,853 6,611 7,004
year-on-year (%) -16.1 -7.0 -30.8 -15.0 -27.9 -20.0 -20.1
Gross Revenue actual (JPY mn) 41 42 34 39 44 38 240
year-on-year (%) -14.1 -6.0 -29.8 -13.8 -26.3 -18.7 -18.6
    (Note) This property was acquired on July 17, 2014.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
Occupancy Rate actual (%) 87.0 89.0 91.3 96.0 90.5 93.9 91.3
year-on-year (points) -1.7 -4.9 -2.9 -0.7 -4.9 0.5 -2.4
ADR actual (JPY) 8,188 9,846 10,406 11,360 8,990 8,282 9,523
year-on-year (%) 2.5 -4.6 6.8 1.4 -1.9 -5.9 -0.2
RevPAR actual (JPY) 7,122 8,761 9,502 10,911 8,135 7,776 8,693
year-on-year (%) 0.5 -9.6 3.5 0.7 -6.9 -5.4 -2.8
Gross Revenue actual (JPY mn) 14 15 19 20 16 15 102
year-on-year (%) 0.7 -7.8 4.7 1.3 -5.4 -3.3 -1.5
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 94.9 95.5 94.9 96.9 97.2 92.0 95.2
year-on-year (points) -1.3 1.4 2.2 4.6 4.2 7.1 3.0
ADR actual (JPY) 8,651 8,622 8,463 8,385 8,849 9,102 8,676
year-on-year (%) -9.0 -11.2 -11.7 -14.7 -17.5 -15.3 -13.2
RevPAR actual (JPY) 8,206 8,231 8,028 8,129 8,604 8,375 8,262
year-on-year (%) -10.2 -9.9 -9.6 -10.5 -13.8 -8.2 -10.4
Gross Revenue actual (JPY mn) 16 16 15 16 16 16 99
year-on-year (%) -8.3 -7.7 -8.0 -7.6 -12.2 -7.5 -8.6
    (Note) This property was acquired on July 17, 2014.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
Occupancy Rate actual (%) 87.8 93.2 91.8 90.6 88.9 95.0 91.2
year-on-year (points) 0.7 -2.5 -4.5 -6.2 -6.8 -0.9 -3.4
ADR actual (JPY) 6,671 7,243 8,540 9,531 7,208 6,340 7,587
year-on-year (%) 7.4 2.1 15.9 11.7 0.9 -8.0 5.1
RevPAR actual (JPY) 5,858 6,750 7,836 8,631 6,407 6,023 6,916
year-on-year (%) 8.3 -0.6 10.4 4.6 -6.2 -8.8 1.3
Gross Revenue actual (JPY mn) 13 13 17 18 14 13 91
year-on-year (%) 8.2 -0.9 10.0 4.5 -6.3 -8.6 1.2
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 94.7 93.7 91.8 91.9 92.7 88.7 92.2
year-on-year (points) 0.2 -0.4 -1.0 -1.5 -0.6 -1.4 -0.8
ADR actual (JPY) 6,457 6,051 5,951 7,161 7,335 7,103 6,672
year-on-year (%) -11.5 -14.2 -15.8 -6.6 -10.7 -12.1 -11.7
RevPAR actual (JPY) 6,113 5,672 5,460 6,580 6,802 6,298 6,155
year-on-year (%) -11.3 -14.5 -16.7 -8.1 -11.3 -13.5 -12.5
Gross Revenue actual (JPY mn) 13 12 11 14 14 14 82
year-on-year (%) -11.5 -14.8 -16.3 -7.7 -11.5 -13.1 -12.4
    (Note) This property was acquired on July 17, 2014.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
Occupancy Rate actual (%) 95.1 97.5 99.1 98.5 97.2 96.6 97.3
year-on-year (points) 8.3 0.3 1.7 4.0 2.6 0.2 2.9
ADR actual (JPY) 7,541 8,690 9,182 10,682 8,513 7,640 8,715
year-on-year (%) -1.9 -5.0 7.3 7.0 -0.8 -8.0 0.0
RevPAR actual (JPY) 7,169 8,476 9,096 10,520 8,273 7,381 8,481
year-on-year (%) 7.5 -4.7 9.2 11.5 1.9 -7.8 3.1
Gross Revenue actual (JPY mn) 12 13 15 17 14 12 85
year-on-year (%) 7.4 -4.6 9.0 11.3 2.5 -7.7 3.1
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 96.4 97.7 96.9 98.8 99.3 96.6 97.6
year-on-year (points) -0.5 -0.1 -0.4 1.2 0.8 -0.7 0.1
ADR actual (JPY) 7,908 7,828 8,113 9,119 9,282 8,300 8,427
year-on-year (%) -7.2 -6.5 -5.8 -5.0 -10.7 -8.7 -7.4
RevPAR actual (JPY) 7,625 7,645 7,862 9,006 9,220 8,018 8,226
year-on-year (%) -7.7 -6.6 -6.3 -3.8 -9.9 -9.3 -7.3
Gross Revenue actual (JPY mn) 13 13 13 15 15 13 84
year-on-year (%) -7.3 -6.2 -6.0 -3.5 -10.2 -8.8 -7.0
    (Note) This property was acquired on July 17, 2014.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
Occupancy Rate actual (%) 65.7 74.7 78.4 91.1 85.1 76.6 78.6
year-on-year (points) 8.8 -5.2 11.1 2.6 6.2 -3.5 3.5
ADR actual (JPY) 5,325 5,532 5,767 5,969 5,148 4,869 5,448
year-on-year (%) 3.6 10.2 6.8 8.0 0.5 -4.0 4.4
RevPAR actual (JPY) 3,499 4,131 4,523 5,437 4,383 3,728 4,283
year-on-year (%) 19.7 3.0 24.4 11.1 8.3 -8.2 9.2
Gross Revenue actual (JPY mn) 14 15 19 22 18 15 106
year-on-year (%) 18.9 1.6 23.9 10.4 8.7 -8.8 8.6
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 76.7 69.0 67.4 82.5 77.1 70.9 74.0
year-on-year (points) -6.4 -7.4 -9.5 0.4 0.1 -3.7 -4.4
ADR actual (JPY) 5,025 5,318 5,090 5,022 5,121 5,241 5,131
year-on-year (%) -5.1 -3.3 -8.7 -11.7 -17.9 -14.0 -10.3
RevPAR actual (JPY) 3,855 3,668 3,433 4,145 3,949 3,714 3,795
year-on-year (%) -12.4 -12.6 -20.0 -11.2 -17.7 -18.2 -15.3
Gross Revenue actual (JPY mn) 16 15 14 17 16 15 96
year-on-year (%) -12.5 -12.4 -18.5 -9.1 -16.1 -15.8 -14.0
    (Note) This property was acquired on July 17, 2014.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
Occupancy Rate actual (%) 67.6 80.7 85.5 92.7 86.1 74.6 81.2
year-on-year (points) 8.0 -0.5 8.9 3.8 2.1 -8.1 2.4
ADR actual (JPY) 5,641 6,506 6,223 6,997 6,249 5,537 6,230
year-on-year (%) 0.5 1.1 2.4 5.6 3.1 1.0 2.7
RevPAR actual (JPY) 3,814 5,253 5,320 6,488 5,378 4,128 5,058
year-on-year (%) 13.9 0.5 14.3 10.1 5.7 -8.9 5.8
Gross Revenue actual (JPY mn) 12 16 17 21 18 13 100
year-on-year (%) 13.1 0.0 13.4 9.6 5.8 -7.5 5.7
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 83.0 73.4 67.8 79.3 81.1 66.1 75.1
year-on-year (points) 0.5 -9.8 -14.2 -3.9 -2.5 -18.0 -8.0
ADR actual (JPY) 5,362 5,723 5,573 5,679 5,917 5,718 5,660
year-on-year (%) -4.1 -2.9 -8.7 -10.1 -8.1 -7.9 -7.1
RevPAR actual (JPY) 4,451 4,202 3,780 4,506 4,800 3,780 4,253
year-on-year (%) -3.6 -14.4 -24.6 -14.4 -10.9 -27.6 -16.0
Gross Revenue actual (JPY mn) 15 14 12 15 15 12 85
year-on-year (%) -2.7 -13.3 -24.1 -14.8 -10.4 -27.8 -15.7
    (Note) This property was acquired on July 17, 2014.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
Occupancy Rate actual (%) 83.3 84.4 86.3 91.2 83.8 85.3 85.7
year-on-year (points) -6.5 -10.5 -8.0 0.5 5.2 0.6 -3.0
ADR actual (JPY) 8,052 9,132 9,487 10,503 9,355 9,842 9,410
year-on-year (%) -12.5 -18.2 -18.4 -9.9 -5.2 12.2 -9.7
RevPAR actual (JPY) 6,706 7,712 8,185 9,583 7,841 8,393 8,066
year-on-year (%) -18.9 -27.2 -25.4 -9.4 1.1 13.0 -12.8
Gross Revenue actual (JPY mn) 23 24 28 32 27 28 163
year-on-year (%) -18.9 -27.0 -25.3 -9.3 0.8 13.6 -12.7
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 78.2 85.6 64.0 74.5 80.9 80.5 77.3
year-on-year (points) -8.8 -5.2 -5.4 -7.3 -5.4 -3.8 -6.0
ADR actual (JPY) 8,517 9,389 7,361 7,457 8,064 7,901 8,166
year-on-year (%) -13.8 -14.7 -17.8 -16.4 -24.0 -25.0 -18.6
RevPAR actual (JPY) 6,656 8,040 4,709 5,559 6,524 6,363 6,316
year-on-year (%) -22.5 -19.6 -24.2 -23.9 -28.8 -28.4 -24.5
Gross Revenue actual (JPY mn) 23 27 16 19 21 22 130
year-on-year (%) -22.1 -19.4 -23.8 -23.5 -28.5 -27.8 -24.1
    (Note) This property was acquired on July 17, 2014.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
Occupancy Rate actual (%) 87.9 85.2 87.0 92.4 92.3 75.2 86.7
year-on-year (points) 2.1 -7.7 -4.6 -0.9 6.7 -21.5 -4.2
ADR actual (JPY) 6,300 6,916 7,277 8,502 6,861 6,303 7,053
year-on-year (%) 1.3 2.3 1.7 0.7 0.5 1.4 1.6
RevPAR actual (JPY) 5,539 5,892 6,334 7,858 6,334 4,737 6,117
year-on-year (%) 3.8 -6.1 -3.4 -0.3 8.4 -21.2 -3.1
Gross Revenue actual (JPY mn) 10 10 12 14 12 8 68
year-on-year (%) 2.4 -7.0 -2.9 -0.5 7.4 -19.4 -3.2
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 19.4 36.6 68.4 84.7 87.5 87.4 64.3
year-on-year (points) -76.5 -60.2 -27.9 -11.6 -7.9 -1.2 -30.6
ADR actual (JPY) 7,066 8,734 7,479 9,097 9,979 9,697 9,018
year-on-year (%) 6.7 25.6 9.7 39.6 46.3 35.1 32.4
RevPAR actual (JPY) 1,372 3,196 5,117 7,701 8,730 8,479 5,796
year-on-year (%) -78.4 -52.5 -22.0 22.8 34.1 33.3 -10.3
Gross Revenue actual (JPY mn) 3 6 9 14 16 16 66
year-on-year (%) -71.7 -48.8 -18.9 21.6 32.6 33.5 -9.1
    (Note 1) This property was acquired on July 17, 2014.
    (Note 2) Renovation Period: June 23, 2019 - September 8, 2019.
    (Note 3) The name of this property was changed from "Flexstay Inn Kiyosumi Shirakawa" as of September 9, 2019.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
Occupancy Rate actual (%) 87.4 85.2 93.4 93.9 80.4 97.9 89.7
year-on-year (points) 11.8 -10.0 -1.2 -5.2 -16.6 1.1 -3.2
ADR actual (JPY) 5,754 5,993 6,046 6,516 5,928 5,878 6,023
year-on-year (%) 2.7 2.6 5.7 4.8 0.7 0.3 2.7
RevPAR actual (JPY) 5,030 5,104 5,646 6,121 4,766 5,757 5,403
year-on-year (%) 18.8 -8.2 4.4 -0.7 -16.5 1.5 -0.9
Gross Revenue actual (JPY mn) 6 5 7 7 5 7 39
year-on-year (%) 19.8 -7.8 3.1 -2.6 -19.4 1.5 -1.9
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 92.8 89.1 92.8 89.2 85.6 85.7 89.2
year-on-year (points) -4.9 -5.5 -0.3 -3.5 -10.4 -8.5 -5.5
ADR actual (JPY) 5,308 5,340 5,367 5,404 5,603 5,502 5,417
year-on-year (%) -7.1 -4.6 -7.6 -8.7 -9.7 -8.4 -7.8
RevPAR actual (JPY) 4,926 4,757 4,981 4,818 4,798 4,715 4,832
year-on-year (%) -11.7 -10.1 -8.0 -12.1 -19.5 -16.7 -13.1
Gross Revenue actual (JPY mn) 6 5 6 6 5 5 35
year-on-year (%) -12.4 -10.2 -8.2 -11.9 -21.1 -17.6 -13.7
    (Note) This property was acquired on July 17, 2014.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
Occupancy Rate actual (%) 87.7 87.7 91.1 95.8 90.2 95.9 91.4
year-on-year (points) 1.8 -4.4 -4.8 -0.8 -1.8 -1.5 -1.9
ADR actual (JPY) 5,087 5,469 5,749 6,343 5,300 5,839 5,642
year-on-year (%) -2.2 2.1 9.5 2.6 -5.2 -2.5 0.7
RevPAR actual (JPY) 4,461 4,794 5,235 6,074 4,780 5,601 5,156
year-on-year (%) -0.2 -2.8 4.0 1.8 -7.0 -4.0 -1.3
Gross Revenue actual (JPY mn) 3 3 3 4 3 3 21
year-on-year (%) 0.2 -3.1 3.2 0.7 -8.1 -3.5 -1.8
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 92.2 92.2 95.0 92.5 94.5 93.3 93.3
year-on-year (points) -3.8 -1.8 6.7 -1.0 0.2 0.3 0.0
ADR actual (JPY) 5,540 5,006 5,019 5,124 5,307 5,041 5,173
year-on-year (%) -0.1 -6.5 -11.0 -5.9 -9.5 -10.4 -7.3
RevPAR actual (JPY) 5,110 4,617 4,768 4,741 5,018 4,701 4,825
year-on-year (%) -4.0 -8.3 -4.3 -7.0 -9.3 -10.1 -7.2
Gross Revenue actual (JPY mn) 3 3 3 3 3 3 20
year-on-year (%) -2.6 -7.5 -2.7 -6.4 -9.5 -10.2 -6.5
    (Note) This property was acquired on July 17, 2014.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
Occupancy Rate actual (%) 92.8 93.7 95.6 94.0 92.7 91.7 93.4
year-on-year (points) 11.4 -3.1 -1.7 0.5 4.2 -3.9 1.3
ADR actual (JPY) 5,751 7,009 7,607 9,226 8,089 7,287 7,498
year-on-year (%) -4.0 -0.9 11.2 20.0 4.7 -1.2 5.2
RevPAR actual (JPY) 5,334 6,565 7,272 8,672 7,499 6,685 7,004
year-on-year (%) 9.4 -4.1 9.2 20.6 9.7 -5.2 6.7
Gross Revenue actual (JPY mn) 78 86 105 122 108 94 596
year-on-year (%) 9.5 -4.0 8.7 21.1 9.4 -5.0 6.7
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 96.3 97.0 86.6 92.3 92.3 91.9 92.8
year-on-year (points) 4.7 0.5 -2.9 -0.7 -6.4 -5.3 -1.7
ADR actual (JPY) 6,998 7,988 7,187 7,211 6,800 6,515 7,124
year-on-year (%) 1.0 3.2 2.1 -10.9 -12.1 -14.6 -5.5
RevPAR actual (JPY) 6,741 7,750 6,226 6,654 6,274 5,987 6,609
year-on-year (%) 6.2 3.7 -1.2 -11.6 -17.8 -19.3 -7.2
Gross Revenue actual (JPY mn) 98 112 88 97 89 87 573
year-on-year (%) 6.0 4.1 -1.1 -11.1 -16.9 -18.2 -6.6
    (Note) This property was acquired on February 6, 2015.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
Occupancy Rate actual (%) 58.3 72.1 62.6 71.7 77.8 84.3 71.1
year-on-year (points) 3.6 10.9 10.3 8.5 16.5 8.0 9.6
ADR actual (JPY) 6,778 7,009 6,877 9,728 10,445 8,504 8,350
year-on-year (%) 2.0 5.8 0.2 21.8 12.2 -2.2 7.1
RevPAR actual (JPY) 3,953 5,057 4,308 6,978 8,122 7,166 5,932
year-on-year (%) 8.6 24.7 19.9 38.1 42.4 8.1 23.8
Gross Revenue actual (JPY mn) 31 35 34 50 60 52 264
year-on-year (%) 13.2 27.2 25.5 40.5 39.3 7.5 25.3
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 91.5 89.4 83.3 79.6 68.7 65.5 79.7
year-on-year (points) 2.5 -3.9 12.8 10.8 8.5 -6.7 3.9
ADR actual (JPY) 9,980 10,702 9,470 7,788 7,343 6,828 8,854
year-on-year (%) 1.1 -3.0 -2.0 -15.2 -1.6 -6.7 -4.3
RevPAR actual (JPY) 9,129 9,571 7,887 6,196 5,047 4,475 7,057
year-on-year (%) 3.9 -7.0 15.8 -1.8 12.2 -15.4 0.6
Gross Revenue actual (JPY mn) 66 70 57 47 38 35 316
year-on-year (%) 3.8 -6.1 17.4 -1.0 11.4 -13.2 1.4
    (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.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
Occupancy Rate actual (%) 72.2 82.4 84.9 91.6 90.1 85.6 84.5
year-on-year (points) 9.1 -4.1 2.7 -0.6 1.0 -2.4 1.1
ADR actual (JPY) 6,360 7,035 7,594 8,208 7,315 6,688 7,236
year-on-year (%) -5.3 -2.4 9.8 -3.4 3.5 -2.6 -0.1
RevPAR actual (JPY) 4,594 5,799 6,450 7,520 6,590 5,727 6,113
year-on-year (%) 8.2 -7.0 13.5 -4.0 4.6 -5.2 1.1
Gross Revenue actual (JPY mn) 12 14 17 19 17 15 96
year-on-year (%) 10.2 -7.5 13.4 -4.4 3.8 -5.1 1.0
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 75.4 76.1 86.2 87.1 87.2 75.5 81.2
year-on-year (points) -10.7 -10.3 -0.4 -3.5 1.4 -5.2 -4.8
ADR actual (JPY) 6,427 6,323 6,427 7,053 7,298 6,759 6,728
year-on-year (%) -11.2 -6.7 -1.7 -0.8 -3.8 -6.1 -4.9
RevPAR actual (JPY) 4,845 4,812 5,542 6,146 6,365 5,103 5,464
year-on-year (%) -22.2 -17.9 -2.2 -4.6 -2.2 -12.1 -10.2
Gross Revenue actual (JPY mn) 13 13 14 16 16 13 87
year-on-year (%) -22.2 -18.3 -2.4 -4.6 -1.9 -12.1 -10.3
    (Note) This property was acquired on February 6, 2015.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
Occupancy Rate actual (%) 94.2 95.0 97.2 97.8 93.3 95.9 95.6
year-on-year (points) -0.4 -1.0 2.8 2.8 0.3 0.1 0.8
ADR actual (JPY) 9,917 11,175 11,547 12,970 10,943 10,368 11,159
year-on-year (%) 6.8 -5.0 5.2 -0.5 2.3 -3.0 0.9
RevPAR actual (JPY) 9,345 10,611 11,219 12,687 10,215 9,947 10,664
year-on-year (%) 6.3 -5.9 8.3 2.5 2.6 -2.9 1.8
Gross Revenue actual (JPY mn) 56 57 67 73 62 58 377
year-on-year (%) 5.3 -5.4 8.3 2.0 3.0 -2.8 1.7
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 96.2 97.2 98.2 95.2 98.5 95.3 96.8
year-on-year (points) 0.0 1.4 2.2 -0.1 1.0 -0.8 0.6
ADR actual (JPY) 11,046 11,154 10,160 11,591 10,963 10,101 10,837
year-on-year (%) -0.2 1.2 -9.3 2.1 -9.6 -8.1 -4.0
RevPAR actual (JPY) 10,626 10,846 9,981 11,030 10,795 9,631 10,486
year-on-year (%) -0.2 2.8 -7.3 2.0 -8.7 -8.9 -3.4
Gross Revenue actual (JPY mn) 64 65 58 67 62 58 376
year-on-year (%) 0.1 2.4 -6.7 3.6 -10.0 -8.5 -3.2
    (Note) This property was acquired on July 16, 2015.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
Occupancy Rate actual (%) 89.9 89.1 91.4 95.4 91.9 91.5 91.6
year-on-year (points) 3.4 0.3 2.7 1.3 0.8 -3.2 0.9
ADR actual (JPY) 5,660 5,936 6,150 7,010 5,928 5,565 6,049
year-on-year (%) 0.5 -4.5 0.5 -0.5 -2.8 -5.1 -1.9
RevPAR actual (JPY) 5,088 5,289 5,622 6,687 5,447 5,093 5,538
year-on-year (%) 4.4 -4.2 3.6 0.9 -1.9 -8.3 -0.9
Gross Revenue actual (JPY mn) 45 42 49 56 48 44 286
year-on-year (%) 4.3 -4.0 2.7 1.4 -1.2 -6.9 -0.6
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 91.0 76.6 82.8 90.7 94.7 87.1 87.1
year-on-year (points) -4.5 -16.6 -11.6 -2.3 1.8 -3.6 -6.1
ADR actual (JPY) 5,596 5,845 5,779 5,884 6,202 6,099 5,904
year-on-year (%) -7.9 -5.3 -4.9 -9.6 -10.6 -12.0 -8.4
RevPAR actual (JPY) 5,090 4,480 4,787 5,337 5,872 5,313 5,144
year-on-year (%) -12.2 -22.1 -16.5 -11.9 -8.8 -15.5 -14.4
Gross Revenue actual (JPY mn) 45 39 40 47 50 46 271
year-on-year (%) -10.7 -21.2 -16.2 -10.4 -8.0 -14.6 -13.4
    (Note 1) This property was acquired on July 16, 2015.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
Occupancy Rate actual (%) 91.6 95.8 95.3 95.0 90.4 96.6 94.1
year-on-year (points) 0.1 0.7 -0.9 -1.3 -3.4 0.1 -0.8
ADR actual (JPY) 8,760 9,513 10,770 12,640 9,615 8,436 9,963
year-on-year (%) 6.4 -2.8 5.3 1.3 -0.8 -4.6 0.8
RevPAR actual (JPY) 8,026 9,117 10,265 12,011 8,694 8,149 9,374
year-on-year (%) 6.5 -2.1 4.4 -0.1 -4.4 -4.5 -0.1
Gross Revenue actual (JPY mn) 24 25 31 35 26 24 166
year-on-year (%) 6.2 -2.1 4.3 -0.5 -4.4 -4.8 -0.3
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 96.4 96.6 96.7 95.5 96.2 94.2 95.9
year-on-year (points) 1.3 1.0 2.3 0.3 0.6 3.0 1.4
ADR actual (JPY) 8,755 8,572 7,709 9,148 9,544 8,963 8,781
year-on-year (%) -11.1 -8.4 -18.4 -13.0 -11.8 -16.6 -13.2
RevPAR actual (JPY) 8,440 8,279 7,457 8,737 9,183 8,445 8,425
year-on-year (%) -9.9 -7.5 -16.4 -12.7 -11.2 -13.8 -11.9
Gross Revenue actual (JPY mn) 25 25 22 26 27 25 152
year-on-year (%) -10.2 -7.5 -16.9 -12.6 -11.3 -13.6 -12.0
    (Note) This property was acquired on July 16, 2015.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
Occupancy Rate actual (%) 91.0 94.2 96.5 96.4 93.0 94.0 94.2
year-on-year (points) -0.4 2.1 4.8 1.2 -1.9 -3.1 0.4
ADR actual (JPY) 5,604 6,046 6,591 7,362 5,972 5,489 6,187
year-on-year (%) -0.5 -6.9 0.3 8.1 4.8 -0.3 1.3
RevPAR actual (JPY) 5,098 5,694 6,360 7,099 5,552 5,161 5,826
year-on-year (%) -0.9 -4.7 5.6 9.5 2.8 -3.5 1.8
Gross Revenue actual (JPY mn) 29 29 36 39 32 29 195
year-on-year (%) -1.5 -3.9 5.1 9.3 2.2 -3.5 1.6
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 96.4 88.1 90.5 93.6 95.5 92.8 92.8
year-on-year (points) -0.8 -7.9 -3.3 -0.6 1.7 1.6 -1.6
ADR actual (JPY) 5,512 5,716 5,617 5,907 6,206 6,177 5,857
year-on-year (%) -2.3 -2.9 -11.5 -9.1 -12.8 -13.5 -8.8
RevPAR actual (JPY) 5,313 5,033 5,081 5,531 5,928 5,732 5,436
year-on-year (%) -3.1 -10.9 -14.6 -9.6 -11.2 -12.0 -10.3
Gross Revenue actual (JPY mn) 31 29 28 31 33 32 186
year-on-year (%) -3.4 -11.0 -12.9 -8.9 -9.9 -10.8 -9.5
    (Note) This property was acquired on July 16, 2015.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
Occupancy Rate actual (%) 70.9 80.2 63.2 80.9 87.5 76.5 76.5
year-on-year (points) -1.5 -4.9 -23.4 -1.3 12.9 3.9 -2.4
ADR actual (JPY) 6,266 6,771 6,695 6,931 6,754 5,747 6,535
year-on-year (%) -5.5 0.0 -7.5 3.9 -5.3 -6.4 -3.6
RevPAR actual (JPY) 4,444 5,433 4,234 5,607 5,908 4,397 4,997
year-on-year (%) -7.5 -5.7 -32.5 2.3 11.1 -1.4 -6.6
Gross Revenue actual (JPY mn) 22 24 21 28 30 22 151
year-on-year (%) -7.4 -6.6 -31.9 4.1 14.1 2.1 -5.3
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 84.6 84.5 79.6 76.5 89.3 90.0 84.1
year-on-year (points) 6.4 -5.4 2.1 -7.8 3.4 15.9 2.4
ADR actual (JPY) 7,042 8,090 6,326 6,336 6,209 5,671 6,609
year-on-year (%) 0.5 3.1 -2.7 -2.4 -7.4 -13.0 -3.8
RevPAR actual (JPY) 5,960 6,834 5,038 4,846 5,544 5,105 5,557
year-on-year (%) 8.7 -3.1 -0.1 -11.4 -3.8 5.7 -0.9
Gross Revenue actual (JPY mn) 31 35 25 25 28 27 173
year-on-year (%) 10.8 -3.2 3.1 -9.9 -1.3 9.9 1.1
    (Note1) This property was acquired on July 16, 2015.
    (Note 2) Renovation Period: February 16, 2019 - March 31, 2019.
    (Note 3) The name of this property was changed from "Hotel Vista Shimizu" as of April 1, 2019.
    (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.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
Occupancy Rate actual (%) 81.5 82.3 88.6 94.8 91.2 86.5 87.5
year-on-year (points) 3.2 -6.3 -2.3 1.1 0.5 -3.0 -1.0
ADR actual (JPY) 5,076 5,439 5,651 6,227 5,128 4,828 5,404
year-on-year (%) 5.6 0.3 1.6 -0.4 2.8 -0.7 1.4
RevPAR actual (JPY) 4,135 4,476 5,009 5,904 4,679 4,177 4,731
year-on-year (%) 9.9 -6.9 -1.0 0.7 3.4 -4.0 0.2
Gross Revenue actual (JPY mn) 11 11 14 16 13 11 79
year-on-year (%) 9.5 -7.0 -0.8 0.0 2.2 -4.3 -0.3
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 88.7 91.3 90.8 86.6 85.9 82.1 87.6
year-on-year (points) -2.1 -1.2 -2.3 -4.4 -7.2 -6.3 -3.9
ADR actual (JPY) 5,150 5,025 4,852 5,202 5,311 5,286 5,134
year-on-year (%) 2.4 -3.5 -7.9 -1.9 -2.7 -5.7 -3.3
RevPAR actual (JPY) 4,569 4,587 4,407 4,506 4,562 4,338 4,495
year-on-year (%) 0.0 -4.7 -10.2 -6.6 -10.2 -12.4 -7.5
Gross Revenue actual (JPY mn) 13 13 12 12 12 12 76
year-on-year (%) 0.3 -4.9 -9.5 -6.6 -8.8 -12.1 -7.0
    (Note) This property was acquired on July 16, 2015.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
Occupancy Rate actual (%) 93.0 94.9 97.0 97.9 92.8 90.9 94.4
year-on-year (points) -1.1 -2.9 -1.6 -0.1 -3.3 -6.1 -2.5
ADR actual (JPY) 7,039 7,407 7,429 8,897 8,665 7,313 7,802
year-on-year (%) 3.8 1.3 0.3 14.4 0.5 -4.9 2.6
RevPAR actual (JPY) 6,544 7,031 7,208 8,711 8,041 6,649 7,366
year-on-year (%) 2.5 -1.7 -1.3 14.2 -3.0 -10.8 -0.1
Gross Revenue actual (JPY mn) 48 49 59 53 54 46 313
year-on-year (%) -8.1 -4.3 -7.5 -1.6 -2.8 -23.7 -8.3
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 98.7 98.6 96.2 93.7 96.8 94.8 96.5
year-on-year (points) 1.1 -0.3 0.5 -2.8 -0.1 -2.3 -0.7
ADR actual (JPY) 7,526 9,235 8,780 9,807 9,580 7,425 8,717
year-on-year (%) 1.1 8.1 4.4 0.3 -0.7 -0.6 2.1
RevPAR actual (JPY) 7,428 9,109 8,450 9,194 9,269 7,037 8,410
year-on-year (%) 2.3 7.8 4.9 -2.5 -0.8 -2.9 1.4
Gross Revenue actual (JPY mn) 46 53 57 64 63 56 342
year-on-year (%) -13.2 9.0 14.2 6.1 -1.1 -4.8 1.4
    (Note) This property was acquired on July 16, 2015.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
Occupancy Rate actual (%) 72.1 88.1 88.5 94.3 88.4 91.6 87.1
year-on-year (points) 5.0 1.1 -0.4 -0.6 -2.1 -3.1 0.0
ADR actual (JPY) 5,247 5,408 5,445 6,310 5,571 5,197 5,545
year-on-year (%) -0.3 -5.2 2.6 3.2 2.7 2.6 1.1
RevPAR actual (JPY) 3,782 4,762 4,819 5,952 4,922 4,761 4,829
year-on-year (%) 7.2 -4.0 2.2 2.5 0.4 -0.8 1.1
Gross Revenue actual (JPY mn) 8 9 10 12 10 9 59
year-on-year (%) 9.2 -2.8 3.0 2.4 0.3 -1.6 1.5
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 93.6 92.0 92.3 95.9 87.6 81.7 90.5
year-on-year (points) 0.4 -2.1 0.4 8.2 -3.7 -5.4 -0.4
ADR actual (JPY) 5,135 5,311 5,071 5,018 5,247 5,056 5,139
year-on-year (%) -1.4 0.9 -2.9 -8.0 -2.6 -8.1 -3.7
RevPAR actual (JPY) 4,809 4,886 4,680 4,810 4,594 4,129 4,651
year-on-year (%) -1.0 -1.4 -2.4 0.6 -6.6 -13.8 -4.1
Gross Revenue actual (JPY mn) 10 10 9 10 9 8 58
year-on-year (%) -1.7 -1.8 -2.5 1.0 -7.3 -14.0 -4.3
    (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.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
Occupancy Rate actual (%) 80.2 90.0 91.8 97.9 93.4 95.5 91.4
year-on-year (points) 15.4 5.9 11.7 1.2 -2.2 2.0 5.7
ADR actual (JPY) 4,142 4,497 4,539 5,574 4,781 4,792 4,743
year-on-year (%) -8.2 -10.1 -7.5 5.0 -4.5 5.1 -3.2
RevPAR actual (JPY) 3,323 4,049 4,168 5,457 4,465 4,576 4,337
year-on-year (%) 13.6 -3.8 6.0 6.3 -6.7 7.4 3.2
Gross Revenue actual (JPY mn) 6 7 8 10 9 9 52
year-on-year (%) 13.5 -3.0 7.5 6.9 -7.5 6.7 3.4
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 90.5 86.0 89.8 91.8 85.8 86.2 88.3
year-on-year (points) 3.0 -2.6 0.8 -0.5 -3.4 -0.7 -0.6
ADR actual (JPY) 4,636 4,278 4,744 5,137 4,814 4,198 4,639
year-on-year (%) 1.7 -8.0 -1.4 3.6 -2.7 -3.4 -1.6
RevPAR actual (JPY) 4,195 3,677 4,259 4,715 4,131 3,617 4,098
year-on-year (%) 5.2 -10.7 -0.5 3.1 -6.4 -4.2 -2.2
Gross Revenue actual (JPY mn) 8 7 8 9 8 7 50
year-on-year (%) 4.3 -12.4 -1.1 2.3 -5.6 -4.0 -2.7
    (Note) This property was acquired on July 16, 2015.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
Occupancy Rate actual (%) 70.9 93.0 82.4 94.1 93.3 89.8 87.1
year-on-year (points) -2.0 3.6 0.3 -0.3 4.1 4.7 1.7
ADR actual (JPY) 4,999 5,067 5,328 5,945 5,360 5,014 5,302
year-on-year (%) 0.0 -10.2 0.3 0.2 1.0 -1.1 -1.7
RevPAR actual (JPY) 3,542 4,712 4,389 5,595 5,000 4,503 4,617
year-on-year (%) -2.7 -6.5 0.6 -0.1 5.6 4.4 0.3
Gross Revenue actual (JPY mn) 24 29 30 37 34 30 188
year-on-year (%) -2.6 -5.0 1.4 -0.2 4.9 3.8 0.4
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 94.5 84.9 80.7 87.0 86.5 84.2 86.3
year-on-year (points) 3.9 -3.4 -9.6 0.0 -2.4 0.0 -1.9
ADR actual (JPY) 5,006 4,978 4,997 4,963 5,256 5,038 5,039
year-on-year (%) -1.7 -1.2 3.2 -4.8 -0.3 -7.2 -2.1
RevPAR actual (JPY) 4,730 4,224 4,033 4,316 4,546 4,244 4,349
year-on-year (%) 2.5 -5.1 -7.8 -4.8 -3.0 -7.2 -4.2
Gross Revenue actual (JPY mn) 33 29 27 30 30 29 179
year-on-year (%) 2.7 -6.4 -9.1 -4.6 -3.3 -7.1 -4.6
    (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.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
Occupancy Rate actual (%) 95.4 95.6 95.3 97.5 96.1 93.5 95.6
year-on-year (points) 8.8 -2.2 -2.4 2.0 -0.1 -2.0 0.7
ADR actual (JPY) 10,273 11,331 10,960 13,356 11,388 10,726 11,341
year-on-year (%) -5.7 -11.6 -16.6 -6.6 -3.4 -2.7 -8.1
RevPAR actual (JPY) 9,800 10,837 10,443 13,026 10,946 10,031 10,840
year-on-year (%) 3.8 -13.7 -18.6 -4.6 -3.4 -4.7 -7.4
Gross Revenue actual (JPY mn) 17 17 18 22 19 17 113
year-on-year (%) 7.8 -10.1 -14.9 -0.8 0.5 -4.2 -4.1
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 91.2 94.9 91.7 95.2 94.9 94.0 93.6
year-on-year (points) -3.8 -1.4 2.3 0.7 0.4 -0.6 -0.4
ADR actual (JPY) 10,298 10,425 8,577 9,480 10,336 10,268 9,906
year-on-year (%) -10.0 -13.5 -9.7 -15.5 -20.8 -17.9 -15.0
RevPAR actual (JPY) 9,388 9,889 7,862 9,027 9,813 9,648 9,276
year-on-year (%) -13.6 -14.7 -7.4 -14.9 -20.5 -18.4 -15.4
Gross Revenue actual (JPY mn) 17 18 14 16 17 17 100
year-on-year (%) -11.6 -13.1 -6.8 -13.9 -19.0 -17.3 -14.0
    (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.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
Occupancy Rate actual (%) 86.0 93.2 94.3 95.1 90.9 95.1 92.4
year-on-year (points) -5.8 -1.5 -0.1 0.3 -0.9 0.4 -1.3
ADR actual (JPY) 10,050 11,156 11,316 12,593 10,403 9,368 10,821
year-on-year (%) 1.7 -2.9 4.8 -0.9 -4.2 -6.3 -1.2
RevPAR actual (JPY) 8,640 10,399 10,670 11,975 9,454 8,910 9,997
year-on-year (%) -4.7 -4.5 4.7 -0.6 -5.2 -5.9 -2.5
Gross Revenue actual (JPY mn) 117 125 143 155 127 119 788
year-on-year (%) -4.2 -5.0 4.2 -0.1 -4.2 -4.0 -2.1
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 96.6 95.5 95.5 94.4 95.1 97.0 95.7
year-on-year (points) 0.8 3.9 2.1 0.9 1.7 2.4 2.0
ADR actual (JPY) 9,941 9,819 9,733 10,670 11,308 10,617 10,345
year-on-year (%) -6.6 -6.0 -7.2 -5.5 -9.7 -5.2 -6.8
RevPAR actual (JPY) 9,604 9,377 9,296 10,069 10,750 10,294 9,897
year-on-year (%) -5.8 -2.0 -5.1 -4.5 -8.1 -2.8 -4.8
Gross Revenue actual (JPY mn) 130 125 121 133 139 139 790
year-on-year (%) -4.7 -2.2 -5.4 -5.5 -7.6 -1.5 -4.5
    (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
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
Occupancy Rate actual (%) 64.1 73.3 94.1 87.8 82.2 80.9 80.5
year-on-year (points) 2.0 2.0 2.7 -0.2 1.7 0.0 1.4
ADR actual (JPY) 22,486 17,356 21,225 22,516 24,694 19,911 21,474
year-on-year (%) -0.3 -2.3 -0.6 11.4 0.9 0.4 1.8
RevPAR actual (JPY) 14,416 12,715 19,973 19,777 20,303 16,111 17,282
year-on-year (%) 2.9 0.5 2.4 11.2 3.0 0.3 3.6
Gross Revenue actual (JPY mn) 379 344 517 510 529 482 2,764
year-on-year (%) -2.0 -5.6 0.5 8.2 0.8 -1.0 0.4
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 92.0 100.0 99.2 91.2 94.1 78.5 92.4
year-on-year (points) -2.4 0.0 -0.3 -5.4 0.3 0.0 -1.3
ADR actual (JPY) 29,389 50,687 24,348 21,565 21,936 23,850 29,059
year-on-year (%) 5.2 7.8 2.3 -5.3 2.9 0.2 3.5
RevPAR actual (JPY) 27,053 50,671 24,144 19,657 20,632 18,725 26,862
year-on-year (%) 2.5 7.8 2.0 -10.6 3.3 0.1 2.1
Gross Revenue actual (JPY mn) 614 892 615 557 594 490 3,763
year-on-year (%) 1.6 4.7 2.5 -10.1 7.2 -3.1 0.7
    (Note) This property was acquired on March 31, 2016.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
Occupancy Rate actual (%) 91.1 91.1 94.2 91.7 93.4 94.1 92.6
year-on-year (points) -2.3 -4.4 -1.5 -2.1 -2.3 -0.2 -2.1
ADR actual (JPY) 8,082 11,178 9,445 9,790 10,116 8,540 9,499
year-on-year (%) 6.2 1.9 -9.1 4.2 4.8 -11.4 -1.0
RevPAR actual (JPY) 7,363 10,188 8,899 8,976 9,452 8,039 8,800
year-on-year (%) 3.6 -2.8 -10.5 1.8 2.2 -11.6 -3.2
Gross Revenue actual (JPY mn) 55 67 65 63 69 57 378
year-on-year (%) 3.7 -2.3 -9.2 2.3 3.5 -10.9 -2.4
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 93.1 95.2 92.6 93.9 92.5 91.7 93.2
year-on-year (points) 2.3 2.7 -1.6 1.7 -0.1 1.3 1.1
ADR actual (JPY) 8,409 8,200 7,656 8,135 9,179 7,790 8,226
year-on-year (%) -14.6 -8.7 -22.2 -14.1 -26.8 -22.5 -18.6
RevPAR actual (JPY) 7,826 7,808 7,091 7,639 8,496 7,140 7,665
year-on-year (%) -12.4 -6.1 -23.5 -12.5 -26.8 -21.4 -17.7
Gross Revenue actual (JPY mn) 57 57 51 56 60 52 335
year-on-year (%) -11.0 -6.4 -21.9 -12.5 -25.8 -20.9 -16.9
    (Note) This property was acquired on March 31, 2016.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
Occupancy Rate actual (%) 97.1 97.4 97.7 96.7 92.1 98.8 96.6
year-on-year (points) 1.9 0.1 2.4 1.1 -5.9 0.5 0.0
ADR actual (JPY) 9,533 10,624 11,243 12,793 10,155 9,158 10,578
year-on-year (%) 5.3 -1.4 4.3 -2.1 -4.8 -10.4 -1.6
RevPAR actual (JPY) 9,254 10,353 10,980 12,371 9,353 9,044 10,219
year-on-year (%) 7.4 -1.3 6.9 -1.0 -10.5 -9.9 -1.6
Gross Revenue actual (JPY mn) 30 30 36 39 30 28 196
year-on-year (%) 7.3 -1.4 7.1 -0.7 -10.3 -9.1 -1.4
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 98.3 97.4 97.3 95.7 97.6 96.9 97.2
year-on-year (points) -0.1 -0.6 -0.4 -0.6 2.7 0.1 0.2
ADR actual (JPY) 9,608 9,113 9,170 11,296 11,319 10,373 10,142
year-on-year (%) -11.6 -13.6 -14.0 -3.0 -15.4 -10.2 -11.3
RevPAR actual (JPY) 9,449 8,878 8,922 10,814 11,046 10,051 9,859
year-on-year (%) -11.8 -14.2 -14.4 -3.7 -13.0 -10.1 -11.1
Gross Revenue actual (JPY mn) 31 29 28 35 35 33 192
year-on-year (%) -11.6 -14.2 -13.4 -2.9 -12.8 -9.7 -10.7
    (Note) This property was acquired on March 31, 2016.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
Occupancy Rate actual (%) 83.2 89.8 90.2 87.4 86.8 81.7 86.5
year-on-year (points) -7.7 -3.7 -1.1 -2.9 -3.1 -5.8 -4.1
ADR actual (JPY) 8,577 9,942 10,034 15,116 14,253 9,211 11,228
year-on-year (%) 5.4 -2.9 -18.4 10.7 5.1 -6.5 -0.6
RevPAR actual (JPY) 7,133 8,926 9,050 13,218 12,374 7,523 9,710
year-on-year (%) -3.5 -6.8 -19.3 7.2 1.5 -12.8 -5.1
Gross Revenue actual (JPY mn) 72 79 90 119 114 74 550
year-on-year (%) -2.6 -5.4 -15.2 5.4 -0.3 -12.4 -4.7
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 89.6 95.7 91.7 81.4 84.3 79.7 87.1
year-on-year (points) -0.2 -1.0 -3.0 -13.0 -9.2 -8.2 -5.8
ADR actual (JPY) 9,252 13,868 11,563 11,979 13,379 9,108 11,563
year-on-year (%) -14.8 -5.2 -16.4 -12.4 -9.9 -15.0 -11.9
RevPAR actual (JPY) 8,287 13,271 10,607 9,747 11,283 7,260 10,066
year-on-year (%) -15.0 -6.2 -19.1 -24.5 -18.8 -23.0 -17.4
Gross Revenue actual (JPY mn) 82 124 98 95 104 73 579
year-on-year (%) -11.9 -4.6 -17.1 -20.7 -15.9 -19.4 -14.7
    (Note) This property was acquired on June 15, 2016.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
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 (%) - - - - - - -
    (Note 1) This property was acquired on June 15, 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.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
Occupancy Rate actual (%) 95.1 96.5 95.1 95.1 93.3 96.8 95.3
year-on-year (points) 5.3 2.5 2.7 0.9 0.4 1.3 2.2
ADR actual (JPY) 16,170 17,149 18,604 23,468 17,103 15,284 17,954
year-on-year (%) 7.6 1.4 4.5 6.8 -0.9 -5.6 2.4
RevPAR actual (JPY) 15,383 16,542 17,689 22,320 15,958 14,792 17,108
year-on-year (%) 13.9 4.1 7.5 7.8 -0.5 -4.3 4.8
Gross Revenue actual (JPY mn) 63 61 71 86 66 59 408
year-on-year (%) 14.6 4.1 7.0 7.6 0.2 -3.8 4.9
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 96.3 96.8 95.7 95.2 95.4 96.2 95.9
year-on-year (points) 3.6 2.8 0.3 0.3 0.8 0.7 1.4
ADR actual (JPY) 17,641 17,464 14,523 18,975 18,028 18,721 17,572
year-on-year (%) -8.0 -10.2 -15.3 0.4 -10.7 -7.3 -8.4
RevPAR actual (JPY) 16,992 16,910 13,893 18,057 17,197 18,011 16,857
year-on-year (%) -4.4 -7.5 -15.0 0.8 -9.9 -6.7 -7.0
Gross Revenue actual (JPY mn) 69 69 56 73 68 73 411
year-on-year (%) -3.8 -6.0 -12.9 1.0 -8.8 -5.3 -5.9
    (Note ) This property was acquired on May 29, 2017.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
Occupancy Rate actual (%) 71.0 87.1 89.0 92.6 79.2 82.1 83.4
year-on-year (points) -15.3 -9.7 -2.7 -0.4 -6.9 -11.0 -7.7
ADR actual (JPY) 6,541 7,283 7,825 9,023 7,617 6,730 7,558
year-on-year (%) -6.6 -13.0 -15.8 -4.3 -4.8 -3.4 -7.7
RevPAR actual (JPY) 4,643 6,346 6,963 8,354 6,030 5,526 6,303
year-on-year (%) -23.2 -21.8 -18.3 -4.6 -12.4 -14.8 -15.5
Gross Revenue actual (JPY mn) 94 113 130 148 119 111 717
year-on-year (%) -14.6 -14.1 -13.2 0.4 -2.5 -5.6 -8.2
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 86.6 92.0 81.2 85.3 88.0 79.7 85.5
year-on-year (points) -10.1 -0.3 -1.5 -7.5 -6.6 -6.5 -5.4
ADR actual (JPY) 6,917 7,569 6,672 7,043 7,619 6,430 7,060
year-on-year (%) -10.7 -6.7 -13.4 -12.2 -14.6 -18.8 -12.6
RevPAR actual (JPY) 5,992 6,963 5,421 6,011 6,708 5,123 6,036
year-on-year (%) -20.0 -7.0 -15.0 -19.4 -20.6 -24.9 -17.8
Gross Revenue actual (JPY mn) 117 123 108 127 130 106 713
year-on-year (%) -15.7 -1.8 -6.3 -7.5 -14.5 -14.1 -10.3
    (Note 1) This property was acquired on October 13, 2017.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
Occupancy Rate actual (%) 96.2 95.9 96.2 94.7 88.4 94.5 94.3
year-on-year (points) 7.5 2.1 2.5 0.2 -0.8 -0.4 1.9
ADR actual (JPY) 11,264 11,794 13,574 16,473 12,651 10,416 12,700
year-on-year (%) 5.2 -1.2 -1.0 2.0 0.9 -12.3 -1.1
RevPAR actual (JPY) 10,841 11,305 13,064 15,604 11,186 9,843 11,977
year-on-year (%) 14.0 1.0 1.7 2.3 0.0 -12.7 0.9
Gross Revenue actual (JPY mn) 88 83 104 120 92 79 568
year-on-year (%) 15.9 3.9 2.6 3.1 1.1 -10.6 2.4
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 97.1 97.5 92.7 92.5 93.5 93.6 94.5
year-on-year (points) 4.9 1.8 -3.7 -1.8 -3.0 1.7 0.0
ADR actual (JPY) 12,311 12,434 10,364 12,065 12,381 12,592 12,039
year-on-year (%) -10.4 -9.0 -8.7 -3.4 -9.9 -10.8 -8.7
RevPAR actual (JPY) 11,959 12,128 9,609 11,164 11,573 11,790 11,379
year-on-year (%) -5.7 -7.3 -12.1 -5.3 -12.7 -9.2 -8.7
Gross Revenue actual (JPY mn) 96 98 76 90 90 95 547
year-on-year (%) -4.7 -5.0 -11.5 -5.2 -11.9 -7.7 -7.6
    (Note 1) This property was acquired on October 13, 2017.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
Occupancy Rate actual (%) 89.0 89.4 92.7 88.9 85.4 86.9 88.7
year-on-year (points) -6.2 0.2 -3.0 0.4 -0.6 3.7 -1.0
ADR actual (JPY) 12,113 12,278 13,307 13,881 14,165 9,139 12,502
year-on-year (%) 23.4 11.7 11.9 29.0 29.1 5.0 18.5
RevPAR actual (JPY) 10,782 10,977 12,337 12,343 12,096 7,937 11,091
year-on-year (%) 15.4 11.9 8.4 29.7 28.2 9.7 17.3
Gross Revenue actual (JPY mn) 167 150 194 178 185 130 1,006
year-on-year (%) 18.9 13.0 12.1 29.0 34.8 23.0 21.4
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 91.5 88.4 84.6 88.7 89.1 89.0 88.6
year-on-year (points) 11.5 -3.6 -2.9 -0.3 -1.4 4.0 1.2
ADR actual (JPY) 10,614 15,257 9,984 16,410 12,464 11,815 12,781
year-on-year (%) 0.8 7.6 -5.5 57.5 3.9 -8.3 8.3
RevPAR actual (JPY) 9,714 13,481 8,445 14,559 11,110 10,509 11,319
year-on-year (%) 15.2 3.4 -8.6 57.0 2.3 -4.0 9.9
Gross Revenue actual (JPY mn) 149 203 131 197 173 166 1,022
year-on-year (%) 22.7 7.7 -2.0 37.4 7.8 -3.2 10.9
    (Note 1) This property was acquired on October 13, 2017.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
Occupancy Rate actual (%) 96.7 96.3 91.5 79.2 86.3 92.5 90.4
year-on-year (points) 1.1 -1.8 -1.7 -3.1 -1.6 -0.6 -1.3
ADR actual (JPY) 8,391 14,685 7,897 8,676 11,184 12,624 10,559
year-on-year (%) 8.9 4.5 4.9 19.5 20.8 7.6 10.1
RevPAR actual (JPY) 8,111 14,135 7,228 6,874 9,651 11,678 9,542
year-on-year (%) 10.3 2.6 3.0 15.0 18.7 6.9 8.6
Gross Revenue actual (JPY mn) 64 98 57 53 75 88 438
year-on-year (%) 10.2 2.7 3.1 14.0 17.6 6.4 8.3
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 92.0 94.1 89.6 85.9 77.0 83.5 87.0
year-on-year (points) -2.7 0.1 25.7 -0.3 -12.7 -13.1 -0.6
ADR actual (JPY) 15,024 14,629 12,403 9,578 10,151 9,078 11,944
year-on-year (%) 5.2 -0.5 5.9 1.0 18.1 -6.9 4.2
RevPAR actual (JPY) 13,823 13,759 11,118 8,226 7,812 7,579 10,396
year-on-year (%) 2.3 -0.4 48.4 0.6 1.4 -19.6 3.5
Gross Revenue actual (JPY mn) 107 107 84 65 60 60 485
year-on-year (%) 2.0 -0.7 44.8 0.7 1.0 -19.1 3.0
    (Note 1) This property was acquired on October 13, 2017.
    (Note 2) Renovation Period : October 25, 2019 - November 11, 2019 and December 1, 2019 - December 19, 2019.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
Occupancy Rate actual (%) 93.6 95.2 97.1 95.9 92.4 89.0 93.8
year-on-year (points) -2.9 -2.6 1.9 3.2 -0.7 -5.8 -1.1
ADR actual (JPY) 6,921 8,371 9,711 10,929 10,115 8,645 9,131
year-on-year (%) 4.9 -3.9 8.2 14.5 6.5 -2.6 5.2
RevPAR actual (JPY) 6,480 7,967 9,426 10,476 9,346 7,691 8,569
year-on-year (%) 1.7 -6.5 10.4 18.5 5.6 -8.6 3.9
Gross Revenue actual (JPY mn) 34 38 49 53 49 39 263
year-on-year (%) 1.7 -5.8 10.2 18.9 5.8 -7.6 4.2
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 94.8 98.7 95.6 95.7 95.4 91.2 95.2
year-on-year (points) 0.4 2.1 0.7 4.7 2.6 -0.3 1.7
ADR actual (JPY) 8,812 10,277 8,451 10,256 9,120 8,552 9,262
year-on-year (%) 2.7 3.7 -3.9 -2.9 -5.8 -14.6 -3.4
RevPAR actual (JPY) 8,351 10,144 8,076 9,819 8,699 7,798 8,819
year-on-year (%) 3.1 6.0 -3.2 2.1 -3.1 -14.9 -1.6
Gross Revenue actual (JPY mn) 43 53 41 51 44 41 276
year-on-year (%) 3.2 6.1 -2.7 2.7 -2.5 -14.2 -1.2
    (Note 1) This property was acquired on February 7, 2018.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
Occupancy Rate actual (%) 50.6 58.9 65.5 80.3 69.5 67.6 65.4
year-on-year (points) -13.4 -12.0 -6.1 0.7 -5.0 -7.4 -7.2
ADR actual (JPY) 7,119 7,213 7,142 10,428 8,204 7,535 8,078
year-on-year (%) -0.9 -3.4 -5.3 3.3 0.8 -2.3 0.0
RevPAR actual (JPY) 3,599 4,246 4,675 8,376 5,703 5,095 5,284
year-on-year (%) -21.6 -19.7 -13.4 4.2 -6.0 -12.0 -9.8
Gross Revenue actual (JPY mn) 44 43 78 93 80 83 424
year-on-year (%) -14.2 -23.7 -0.4 -8.1 3.5 7.5 -4.7
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 76.5 78.3 70.6 74.7 78.4 67.7 74.4
year-on-year (points) -4.4 -8.6 -5.1 -8.7 0.9 2.2 -4.0
ADR actual (JPY) 7,597 9,705 7,501 8,191 7,825 7,320 8,053
year-on-year (%) -3.8 11.3 5.4 7.7 6.3 3.5 5.0
RevPAR actual (JPY) 5,811 7,599 5,295 6,121 6,132 4,954 5,988
year-on-year (%) -9.1 0.3 -1.7 -3.5 7.6 7.0 -0.4
Gross Revenue actual (JPY mn) 88 101 79 84 84 79 517
year-on-year (%) 2.2 13.5 -8.7 -7.1 -7.6 6.9 -0.4
    (Note 1) This property was acquired on February 7, 2018.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
Occupancy Rate actual (%) 51.7 67.0 65.8 74.2 89.8 88.8 72.9
year-on-year (points) -5.4 1.5 1.1 -4.8 7.4 9.1 1.5
ADR actual (JPY) 6,793 8,458 7,219 19,397 12,726 8,651 10,850
year-on-year (%) 6.6 3.2 5.0 26.4 23.9 1.3 13.9
RevPAR actual (JPY) 3,509 5,662 4,751 14,389 11,430 7,678 7,906
year-on-year (%) -3.5 5.7 6.7 18.8 35.0 12.8 16.3
Gross Revenue actual (JPY mn) 68 79 80 111 120 89 549
year-on-year (%) 18.7 20.3 -6.5 0.2 26.6 7.6 10.1
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 83.3 85.3 77.9 90.0 80.4 57.2 79.0
year-on-year (points) 3.3 -6.8 -4.5 5.6 7.4 1.3 1.1
ADR actual (JPY) 9,498 17,281 10,083 10,766 8,212 7,362 10,778
year-on-year (%) 13.3 21.2 10.8 0.5 6.7 -0.5 9.1
RevPAR actual (JPY) 7,912 14,747 7,851 9,686 6,602 4,212 8,516
year-on-year (%) 18.0 12.3 4.8 7.2 17.5 1.9 10.6
Gross Revenue actual (JPY mn) 86 127 93 109 93 90 600
year-on-year (%) -12.3 5.4 -11.4 -1.3 0.8 12.3 -1.4
    (Note 1) This property was acquired on February 7, 2018.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
Occupancy Rate actual (%) 88.6 93.2 94.6 90.4 87.6 93.5 91.3
year-on-year (points) -0.4 -0.8 -2.3 -3.7 -3.2 1.2 -1.6
ADR actual (JPY) 5,262 6,439 5,577 6,045 6,770 5,717 5,957
year-on-year (%) -0.4 -4.0 -7.0 12.5 13.2 4.4 2.7
RevPAR actual (JPY) 4,664 6,003 5,277 5,467 5,928 5,347 5,439
year-on-year (%) -0.8 -4.9 -9.2 8.1 9.2 5.8 1.0
Gross Revenue actual (JPY mn) 23 27 26 26 29 26 159
year-on-year (%) 0.3 -3.9 -7.5 8.6 8.4 6.4 1.7
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 93.7 91.5 89.3 91.3 91.7 94.0 91.9
year-on-year (points) 6.8 -0.9 -2.5 2.1 -2.4 5.1 1.4
ADR actual (JPY) 4,964 5,825 6,122 11,518 7,159 5,856 6,899
year-on-year (%) -7.1 1.4 4.8 93.7 2.0 -3.6 15.0
RevPAR actual (JPY) 4,650 5,330 5,466 10,511 6,562 5,503 6,341
year-on-year (%) 0.1 0.5 1.9 98.4 -0.6 1.9 16.8
Gross Revenue actual (JPY mn) 23 27 26 50 31 27 187
year-on-year (%) 2.1 1.2 3.1 90.8 0.1 2.6 16.3
    (Note 1) This property was acquired on February 7, 2018.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
Occupancy Rate actual (%) 87.2 95.5 97.5 97.3 96.3 97.9 95.3
year-on-year (points) -10.0 -3.6 -0.5 -1.5 0.4 0.2 -2.5
ADR actual (JPY) 9,080 10,360 10,785 11,807 9,307 8,553 9,988
year-on-year (%) 6.8 0.4 9.4 1.4 -3.6 -7.9 1.2
RevPAR actual (JPY) 7,916 9,889 10,520 11,485 8,963 8,377 9,514
year-on-year (%) -4.2 -3.2 8.8 -0.2 -3.2 -7.7 -1.4
Gross Revenue actual (JPY mn) 27 30 36 38 30 27 190
year-on-year (%) -4.8 -3.0 8.6 -0.9 -3.0 -7.4 -1.5
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 97.3 97.5 97.6 97.6 98.0 96.4 97.4
year-on-year (points) -1.1 1.6 0.2 0.4 1.2 -2.1 0.1
ADR actual (JPY) 8,999 8,848 8,775 10,132 10,673 9,652 9,512
year-on-year (%) -9.3 -7.7 -13.2 -6.2 -10.4 -12.6 -9.9
RevPAR actual (JPY) 8,757 8,630 8,568 9,888 10,457 9,307 9,265
year-on-year (%) -10.3 -6.1 -13.0 -5.7 -9.2 -14.5 -9.8
Gross Revenue actual (JPY mn) 30 29 28 33 34 31 188
year-on-year (%) -10.1 -6.8 -13.2 -5.8 -9.9 -14.8 -10.1
    (Note 1) This property was acquired on June 27, 2018.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
Occupancy Rate actual (%) 93.0 93.4 96.6 96.3 95.2 94.2 94.8
year-on-year (points) -0.4 -2.7 0.3 2.9 2.4 5.9 1.4
ADR actual (JPY) 7,605 9,343 9,353 9,788 9,038 8,342 8,910
year-on-year (%) 12.8 7.4 8.5 6.9 4.7 7.1 7.7
RevPAR actual (JPY) 7,070 8,728 9,036 9,424 8,606 7,855 8,447
year-on-year (%) 12.4 4.5 8.8 10.2 7.4 14.3 9.4
Gross Revenue actual (JPY mn) 28 31 35 35 33 29 194
year-on-year (%) 11.9 4.5 8.6 9.4 6.0 11.9 8.6
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 95.3 96.4 95.7 94.2 96.3 95.3 95.5
year-on-year (points) 0.3 1.6 2.4 -1.3 0.2 1.4 0.7
ADR actual (JPY) 8,964 9,777 8,403 8,859 9,436 8,506 8,994
year-on-year (%) 6.5 8.8 -2.7 3.8 7.2 -8.2 2.5
RevPAR actual (JPY) 8,543 9,427 8,044 8,349 9,091 8,104 8,593
year-on-year (%) 6.8 10.6 -0.1 2.4 7.4 -6.9 3.3
Gross Revenue actual (JPY mn) 33 36 30 33 34 32 201
year-on-year (%) 5.6 9.8 -1.1 2.1 7.9 -5.9 3.0
    (Note 1) This property was acquired on June 27, 2018.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
Occupancy Rate actual (%) 87.4 96.0 96.2 96.0 94.3 95.3 94.1
year-on-year (points) -1.2 -0.1 3.8 0.2 0.1 -0.4 0.4
ADR actual (JPY) 10,284 11,471 13,266 16,309 12,591 10,614 12,463
year-on-year (%) 2.9 -7.1 7.4 8.2 5.3 -8.6 1.8
RevPAR actual (JPY) 8,991 11,009 12,760 15,660 11,872 10,112 11,733
year-on-year (%) 1.5 -7.2 11.8 8.4 5.4 -9.0 2.3
Gross Revenue actual (JPY mn) 97 106 135 160 127 105 732
year-on-year (%) 1.7 -6.7 11.3 8.5 6.0 -8.3 2.5
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 96.6 93.7 95.6 95.2 97.1 95.2 95.5
year-on-year (points) 0.1 2.8 2.8 -1.3 -0.1 0.6 0.8
ADR actual (JPY) 11,151 10,441 10,858 14,343 13,304 12,037 12,027
year-on-year (%) -9.8 -13.3 -12.6 2.1 -14.0 -10.8 -9.7
RevPAR actual (JPY) 10,769 9,786 10,377 13,650 12,915 11,462 11,491
year-on-year (%) -9.8 -10.6 -9.9 0.7 -14.0 -10.3 -8.9
Gross Revenue actual (JPY mn) 115 105 107 145 133 123 731
year-on-year (%) -8.9 -9.6 -9.5 1.2 -13.2 -9.3 -8.2
    (Note 1) This property was acquired on August 2, 2018.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
Occupancy Rate actual (%) 92.3 93.0 89.7 64.9 78.7 86.1 84.1
year-on-year (points) 7.3 -1.3 14.5 9.4 4.4 -6.5 4.8
ADR actual (JPY) 8,440 15,430 7,809 9,668 12,604 14,297 11,340
year-on-year (%) 1.3 7.8 2.8 23.1 19.2 5.8 6.8
RevPAR actual (JPY) 7,794 14,355 7,003 6,272 9,924 12,305 9,533
year-on-year (%) 10.0 6.3 22.6 43.9 26.3 -1.6 13.2
Gross Revenue actual (JPY mn) 161 219 149 125 182 210 1,049
year-on-year (%) 4.9 4.4 17.8 37.8 22.3 -0.9 11.2
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 91.4 91.8 83.7 78.2 74.2 71.6 81.8
year-on-year (points) -5.4 -5.1 23.1 -4.2 -12.2 -18.2 -3.8
ADR actual (JPY) 16,540 17,560 13,965 9,841 9,480 9,664 13,168
year-on-year (%) 3.3 2.6 16.5 3.9 9.8 -3.3 6.0
RevPAR actual (JPY) 15,115 16,113 11,687 7,699 7,030 6,919 10,776
year-on-year (%) -2.5 -2.8 60.8 -1.3 -5.6 -22.9 1.4
Gross Revenue actual (JPY mn) 263 279 201 151 137 144 1,178
year-on-year (%) -2.1 -1.6 61.6 -0.7 -4.9 -19.9 2.0
    (Note 1) This property was acquired on August 2, 2018.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
Occupancy Rate actual (%) 91.9 97.1 95.9 95.0 93.2 96.7 94.9
year-on-year (points) 0.7 -0.1 1.2 -0.9 -1.9 -0.6 -0.3
ADR actual (JPY) 8,413 9,594 10,932 12,494 9,484 8,674 9,937
year-on-year (%) 3.7 0.4 6.5 -0.6 -1.1 -1.0 1.2
RevPAR actual (JPY) 7,731 9,318 10,485 11,863 8,843 8,385 9,432
year-on-year (%) 4.5 0.2 7.8 -1.5 -3.1 -1.5 1.0
Gross Revenue actual (JPY mn) 36 39 49 54 41 38 259
year-on-year (%) 4.4 -0.2 7.4 -1.4 -2.9 -1.9 0.8
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 96.1 95.9 94.8 92.8 95.9 93.1 94.8
year-on-year (points) -0.1 -0.2 -1.2 -3.2 0.0 -0.5 -0.9
ADR actual (JPY) 9,203 8,877 8,392 9,919 9,920 9,699 9,334
year-on-year (%) -4.0 -3.8 -10.6 -5.7 -8.0 -8.4 -6.8
RevPAR actual (JPY) 8,847 8,514 7,958 9,204 9,510 9,027 8,845
year-on-year (%) -4.1 -4.0 -11.7 -8.9 -8.0 -8.9 -7.6
Gross Revenue actual (JPY mn) 41 40 36 43 43 42 246
year-on-year (%) -4.2 -3.9 -12.7 -8.8 -8.4 -9.1 -7.9
    (Note 1) This property was acquired on August 2, 2018.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
Occupancy Rate actual (%) 90.9 88.0 90.2 92.5 90.3 83.3 89.2
year-on-year (points) -0.8 -4.2 -0.8 1.5 5.2 -2.3 -0.2
ADR actual (JPY) 8,258 9,540 9,310 11,062 9,249 8,505 9,327
year-on-year (%) -0.4 -17.3 -24.0 -11.8 -10.8 -9.7 -13.1
RevPAR actual (JPY) 7,504 8,395 8,395 10,229 8,354 7,088 8,322
year-on-year (%) -1.2 -21.0 -24.6 -10.3 -5.3 -12.1 -13.2
Gross Revenue actual (JPY mn) 26 26 29 34 29 24 169
year-on-year (%) -0.7 -20.2 -23.9 -9.9 -5.1 -11.4 -12.6
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 85.4 91.0 76.9 87.0 91.0 91.4 87.1
year-on-year (points) -7.4 -2.0 3.1 -0.2 6.7 2.2 0.4
ADR actual (JPY) 8,670 8,996 7,468 7,739 8,007 7,497 8,077
year-on-year (%) -11.1 -16.9 -17.7 -23.0 -30.0 -29.0 -21.6
RevPAR actual (JPY) 7,403 8,185 5,744 6,731 7,285 6,854 7,039
year-on-year (%) -18.2 -18.7 -14.2 -23.2 -24.4 -27.2 -21.3
Gross Revenue actual (JPY mn) 25 28 19 23 24 24 146
year-on-year (%) -17.6 -18.1 -13.3 -22.5 -23.5 -26.4 -20.6
    (Note 1) This property was acquired on August 2, 2018.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
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 (%) - - - - - - -
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 95.1 94.8 91.6 91.5 80.9 91.4 90.5
year-on-year (points) - 0.7 20.5 2.9 -9.5 -0.5 -
ADR actual (JPY) 18,969 18,570 14,056 10,886 11,003 11,231 13,719
year-on-year (%) - -2.7 4.6 -3.0 7.3 -15.8 -
RevPAR actual (JPY) 18,032 17,614 12,877 9,963 8,896 10,264 12,414
year-on-year (%) - -2.0 34.8 0.1 -4.0 -16.2 -
Gross Revenue actual (JPY mn) 83 187 138 115 101 119 745
year-on-year (%) - -3.1 34.6 0.3 -3.9 -15.5 -
    (Note 1) This property was acquired on July 19, 2019. Therefore, the figures for July 2019 are the results of 13 days of operation from July 19, 2019 to July 31, 2019.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
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 (%) - - - - - - -
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 85.9 83.5 75.5 79.1 76.2 54.3 74.6
year-on-year (points) - -5.7 -6.1 0.8 1.1 -7.0 -
ADR actual (JPY) 26,848 31,632 18,220 14,812 12,255 14,340 19,496
year-on-year (%) - -5.1 -6.7 -8.4 -0.8 3.3 -
RevPAR actual (JPY) 23,063 26,401 13,753 11,719 9,335 7,790 14,552
year-on-year (%) - -11.3 -13.7 -7.4 0.7 -8.5 -
Gross Revenue actual (JPY mn) 100 270 161 158 142 115 949
year-on-year (%) - -8.8 -8.4 4.2 7.7 -8.8 -
    (Note 1) This property was acquired on July 19, 2019. Therefore, the figures for July 2019 are the results of 13 days of operation from July 19, 2019 to July 31, 2019.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
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 (%) - - - - - - -
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 85.1 94.7 94.2 88.1 96.4 92.7 92.5
year-on-year (points) - 0.3 -0.4 -1.2 6.8 5.7 -
ADR actual (JPY) 23,210 27,374 16,861 15,133 18,098 16,448 19,176
year-on-year (%) - 7.4 1.1 -7.6 -1.9 -5.4 -
RevPAR actual (JPY) 19,752 25,924 15,874 13,328 17,449 15,240 17,745
year-on-year (%) - 7.7 0.7 -8.9 5.5 0.8 -
Gross Revenue actual (JPY mn) 48 147 93 84 101 93 567
year-on-year (%) - 5.8 1.6 -5.1 7.0 3.2 -
    (Note 1) This property was acquired on July 19, 2019. Therefore, the figures for July 2019 are the results of 13 days of operation from July 19, 2019 to July 31, 2019.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
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 (%) - - - - - - -
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 80.5 83.4 87.1 81.9 85.7 81.6 83.6
year-on-year (points) - -8.8 31.9 11.7 29.8 12.4 -
ADR actual (JPY) 20,591 21,344 15,390 11,606 10,223 12,406 14,698
year-on-year (%) - 8.1 7.4 1.2 -0.7 -9.4 -
RevPAR actual (JPY) 16,573 17,800 13,407 9,503 8,759 10,128 12,294
year-on-year (%) - -2.2 69.5 18.1 52.3 6.9 -
Gross Revenue actual (JPY mn) 38 100 75 58 52 60 385
year-on-year (%) - 61.3 177.3 93.9 194.8 96.4 -
    (Note 1) This property was acquired on July 19, 2019. Therefore, the figures for July 2019 are the results of 13 days of operation from July 19, 2019 to July 31, 2019.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
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 (%) - - - - - - -
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 91.6 92.4 93.5 83.8 91.4 73.8 87.3
year-on-year (points) - -2.8 -1.5 -11.9 -2.6 -4.1 -
ADR actual (JPY) 7,232 10,770 9,665 9,796 11,190 7,447 9,646
year-on-year (%) - -8.7 -13.1 -7.9 -6.8 -11.8 -
RevPAR actual (JPY) 6,621 9,954 9,041 8,205 10,232 5,495 8,419
year-on-year (%) - -11.3 -14.5 -19.4 -9.4 -16.5 -
Gross Revenue actual (JPY mn) 19 65 58 55 65 37 301
year-on-year (%) - -11.8 -15.2 -18.5 -9.1 -15.0 -
    (Note 1) This property was acquired on July 19, 2019. Therefore, the figures for July 2019 are the results of 13 days of operation from July 19, 2019 to July 31, 2019.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
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 (%) - - - - - - -
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 89.3 91.9 87.9 88.3 83.5 80.4 86.6
year-on-year (points) - -4.8 -4.6 -4.0 -3.6 -2.7 -
ADR actual (JPY) 8,453 10,537 7,708 7,485 7,200 5,961 7,895
year-on-year (%) - 15.2 2.8 0.9 -1.3 -4.4 -
RevPAR actual (JPY) 7,546 9,679 6,778 6,606 6,013 4,792 6,839
year-on-year (%) - 9.5 -2.3 -3.5 -5.5 -7.5 -
Gross Revenue actual (JPY mn) 51 128 97 99 97 93 568
year-on-year (%) - 10.2 6.2 -4.2 1.1 5.5 -
    (Note 1) This property was acquired on July 19, 2019. Therefore, the figures for July 2019 are the results of 13 days of operation from July 19, 2019 to July 31, 2019.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
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 (%) - - - - - - -
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 91.7 96.2 92.8 92.4 94.7 91.7 93.4
year-on-year (points) - 2.9 1.7 5.8 5.5 7.3 -
ADR actual (JPY) 9,094 8,138 7,943 8,044 9,632 7,839 8,378
year-on-year (%) - -10.4 -5.8 -6.9 4.6 -10.7 -
RevPAR actual (JPY) 8,337 7,829 7,368 7,436 9,123 7,185 7,825
year-on-year (%) - -7.6 -4.0 -0.6 11.0 -3.0 -
Gross Revenue actual (JPY mn) 19 43 40 42 49 40 236
year-on-year (%) - -8.7 -4.9 0.3 10.4 -2.6 -
    (Note 1) This property was acquired on July 19, 2019. Therefore, the figures for July 2019 are the results of 13 days of operation from July 19, 2019 to July 31, 2019.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
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 (%) - - - - - - -
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 86.1 92.5 92.6 82.9 83.1 85.5 87.2
year-on-year (points) - -1.8 35.3 -0.7 6.6 2.9 -
ADR actual (JPY) 24,973 26,492 17,385 13,499 10,281 13,379 17,128
year-on-year (%) - -2.7 0.6 -2.9 -2.0 -12.9 -
RevPAR actual (JPY) 21,503 24,495 16,096 11,193 8,547 11,432 14,937
year-on-year (%) - -4.6 62.6 -3.7 6.4 -9.8 -
Gross Revenue actual (JPY mn) 34 91 64 49 35 46 322
year-on-year (%) - -5.1 60.9 -3.4 1.9 -14.0 -
    (Note 1) This property was acquired on July 19, 2019. Therefore, the figures for July 2019 are the results of 13 days of operation from July 19, 2019 to July 31, 2019.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
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 (%) - - - - - - -
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 94.7 91.5 89.4 94.4 93.4 86.3 91.3
year-on-year (points) - -1.3 0.2 1.6 1.9 -1.6 -
ADR actual (JPY) 7,579 7,918 5,914 6,781 7,940 5,703 6,929
year-on-year (%) - 17.1 -7.0 0.2 3.0 -10.6 -
RevPAR actual (JPY) 7,174 7,244 5,284 6,398 7,414 4,921 6,323
year-on-year (%) - 15.4 -6.8 2.0 5.2 -12.3 -
Gross Revenue actual (JPY mn) 24 59 45 55 64 48 297
year-on-year (%) - 39.0 9.1 11.1 22.2 -1.2 -
    (Note 1) This property was acquired on July 19, 2019. Therefore, the figures for July 2019 are the results of 13 days of operation from July 19, 2019 to July 31, 2019.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
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 (%) - - - - - - -
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 95.3 95.3 92.8 84.4 60.9 78.4 83.4
year-on-year (points) - -1.4 18.7 2.5 -2.2 11.1 -
ADR actual (JPY) 17,848 16,447 9,059 6,390 5,292 5,596 9,813
year-on-year (%) - 1.7 -1.3 -1.1 3.5 -3.5 -
RevPAR actual (JPY) 17,004 15,678 8,408 5,392 3,222 4,385 8,187
year-on-year (%) - 0.2 23.6 1.8 -0.2 12.4 -
Gross Revenue actual (JPY mn) 118 244 160 145 122 160 952
year-on-year (%) - 2.6 22.1 -5.2 6.5 1.3 -
    (Note 1) This property was acquired on July 19, 2019. Therefore, the figures for July 2019 are the results of 13 days of operation from July 19, 2019 to July 31, 2019.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
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 (%) - - - - - - -
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 83.5 86.5 80.9 85.1 91.7 71.7 83.2
year-on-year (points) - 0.8 1.7 2.8 2.6 -10.8 -
ADR actual (JPY) 9,315 10,379 8,134 8,763 9,685 7,855 9,047
year-on-year (%) - 1.5 -8.7 0.9 1.0 -4.6 -
RevPAR actual (JPY) 7,780 8,976 6,581 7,461 8,886 5,635 7,526
year-on-year (%) - 2.4 -6.8 4.4 3.9 -17.0 -
Gross Revenue actual (JPY mn) 29 77 57 63 72 63 362
year-on-year (%) - 14.3 5.0 13.0 17.1 -8.7 -
    (Note 1) This property was acquired on July 19, 2019. Therefore, the figures for July 2019 are the results of 13 days of operation from July 19, 2019 to July 31, 2019.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
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 (%) - - - - - - -
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 81.0 77.2 77.7 70.7 66.8 71.0 73.3
year-on-year (points) - -5.6 26.4 6.3 4.2 -6.0 -
ADR actual (JPY) 12,720 11,414 10,438 7,425 7,967 6,800 9,220
year-on-year (%) - -15.7 3.2 -11.6 -9.1 -14.5 -
RevPAR actual (JPY) 10,302 8,808 8,110 5,249 5,324 4,830 6,762
year-on-year (%) - -21.4 56.3 -3.0 -3.0 -21.1 -
Gross Revenue actual (JPY mn) 15 30 27 19 19 18 129
year-on-year (%) - -20.1 60.1 4.1 4.2 -15.5 -
    (Note 1) This property was acquired on July 19, 2019. Therefore, the figures for July 2019 are the results of 13 days of operation from July 19, 2019 to July 31, 2019.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
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 (%) - - - - - - -
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 95.7 93.2 83.9 76.6 70.0 64.7 79.1
year-on-year (points) - -0.3 23.0 -0.6 -5.2 -20.4 -
ADR actual (JPY) 14,731 14,784 11,359 8,385 9,885 8,950 11,290
year-on-year (%) - -6.6 -3.3 -7.4 9.0 -12.2 -
RevPAR actual (JPY) 14,098 13,774 9,532 6,425 6,916 5,788 8,930
year-on-year (%) - -6.9 33.2 -8.1 1.5 -33.3 -
Gross Revenue actual (JPY mn) 15 37 25 17 18 16 131
year-on-year (%) - -7.9 30.9 -8.6 3.1 -31.6 -
    (Note 1) This property was acquired on July 19, 2019. Therefore, the figures for July 2019 are the results of 13 days of operation from July 19, 2019 to July 31, 2019.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
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 (%) - - - - - - -
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 91.2 86.2 84.5 81.4 63.5 74.0 79.0
year-on-year (points) - -5.6 24.9 0.2 1.0 -3.6 -
ADR actual (JPY) 10,851 10,790 9,239 6,639 8,014 5,432 8,357
year-on-year (%) - -3.8 -2.8 -2.1 3.6 -14.0 -
RevPAR actual (JPY) 9,892 9,302 7,811 5,405 5,092 4,019 6,604
year-on-year (%) - -9.6 37.7 -1.8 5.3 -18.0 -
Gross Revenue actual (JPY mn) 10 23 19 13 12 10 88
year-on-year (%) - -10.4 36.2 -6.1 4.3 -18.1 -
    (Note 1) This property was acquired on July 19, 2019. Therefore, the figures for July 2019 are the results of 13 days of operation from July 19, 2019 to July 31, 2019.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
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 (%) - - - - - - -
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 94.3 96.7 93.5 96.2 96.0 92.6 94.9
year-on-year (points) - 5.9 5.2 10.3 6.4 6.5 -
ADR actual (JPY) 6,313 6,552 5,768 5,892 5,840 5,812 6,004
year-on-year (%) - -2.4 -3.5 -13.8 -12.3 -11.1 -
RevPAR actual (JPY) 5,952 6,338 5,392 5,667 5,604 5,381 5,700
year-on-year (%) - 3.9 2.2 -3.4 -6.0 -4.5 -
Gross Revenue actual (JPY mn) 5 14 12 13 12 12 70
year-on-year (%) - 4.8 3.4 -0.8 -3.9 -3.3 -
    (Note 1) This property was acquired on July 19, 2019. Therefore, the figures for July 2019 are the results of 13 days of operation from July 19, 2019 to July 31, 2019.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
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 (%) - - - - - - -
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 94.2 93.7 86.7 88.8 91.0 88.2 90.1
year-on-year (points) - 4.9 -4.8 0.5 0.4 1.0 -
ADR actual (JPY) 3,269 3,320 3,242 3,461 3,606 3,606 3,433
year-on-year (%) - -13.5 -15.1 -10.4 -12.8 -12.9 -
RevPAR actual (JPY) 3,080 3,110 2,810 3,075 3,283 3,182 3,092
year-on-year (%) - -8.7 -19.5 -9.9 -12.4 -11.9 -
Gross Revenue actual (JPY mn) 6 15 14 15 16 16 85
year-on-year (%) - -10.5 -18.7 -9.1 -11.7 -11.3 -
    (Note 1) This property was acquired on July 19, 2019. Therefore, the figures for July 2019 are the results of 13 days of operation from July 19, 2019 to July 31, 2019.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
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 (%) - - - - - - -
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 96.5 96.0 94.7 96.2 97.1 92.9 95.5
year-on-year (points) - -0.4 -1.9 1.2 3.4 3.8 -
ADR actual (JPY) 7,202 7,781 5,885 6,484 7,247 5,646 6,665
year-on-year (%) - 20.2 -2.2 -4.4 -0.7 -5.6 -
RevPAR actual (JPY) 6,951 7,468 5,576 6,237 7,035 5,247 6,363
year-on-year (%) - 19.8 -4.0 -3.2 2.8 -1.6 -
Gross Revenue actual (JPY mn) 8 18 13 15 16 13 84
year-on-year (%) - 17.2 -3.1 -2.5 2.6 -1.4 -
    (Note 1) This property was acquired on July 19, 2019. Therefore, the figures for July 2019 are the results of 13 days of operation from July 19, 2019 to July 31, 2019.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
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 (%) - - - - - - -
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 87.5 88.9 82.6 74.7 65.4 72.8 77.7
year-on-year (points) - -2.8 13.0 -11.8 -9.7 1.4 -
ADR actual (JPY) 8,156 7,940 7,927 7,324 6,968 7,026 7,538
year-on-year (%) - 4.8 6.1 -0.3 -0.3 0.4 -
RevPAR actual (JPY) 7,134 7,058 6,545 5,468 4,559 5,116 5,860
year-on-year (%) - 1.6 26.1 -13.9 -13.1 2.4 -
Gross Revenue actual (JPY mn) 7 16 14 12 10 12 73
year-on-year (%) - 0.1 24.6 -14.6 -13.2 2.3 -
    (Note 1) This property was acquired on July 19, 2019. Therefore, the figures for July 2019 are the results of 13 days of operation from July 19, 2019 to July 31, 2019.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
Occupancy Rate actual (%) 87.8 92.1 93.6 91.9 88.4 88.7 90.4
year-on-year (points) -1.5 -0.6 -2.2 -3.1 1.0 -1.0 -1.2
ADR actual (USD) 510 606 548 481 347 345 473
year-on-year (%) 28.6 28.1 9.2 15.0 17.3 14.7 18.5
RevPAR actual (USD) 448 558 513 442 307 306 427
year-on-year (%) 26.4 27.3 6.7 11.2 18.7 13.4 16.9
Gross Revenue actual (USD'000) 7,999 9,082 9,365 8,254 6,990 6,315 48,007
year-on-year (%) 6.0 19.7 1.9 7.8 24.3 12.3 11.0
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 88.2 77.0 38.2 61.5 84.0 84.4 72.3
year-on-year (points) -5.1 -6.3 -13.0 -4.5 -2.8 -3.6 -5.9
ADR actual (USD) 350 281 228 282 347 688 383
year-on-year (%) 14.8 10.4 4.0 15.6 6.3 14.9 13.5
RevPAR actual (USD) 309 217 87 174 292 581 277
year-on-year (%) 8.5 2.0 -22.4 7.7 2.8 10.2 5.0
Gross Revenue actual (USD'000) 6,126 4,448 2,090 3,629 5,606 9,346 31,246
year-on-year (%) 5.5 -6.5 -18.6 1.9 3.6 6.9 1.3
    (Note 1) This property was acquired on Septemer 28, 2018.
    (Note 2) Renovation Period (Rooms) : May 2017- November 2017.
2019/01 2019/02 2019/03 2019/04 2019/05 2019/06 2019/01～06
Occupancy Rate actual (%) 90.3 94.9 93.6 85.7 77.4 77.3 86.4
year-on-year (points) 5.6 0.9 2.7 9.1 -2.3 0.2 2.7
ADR actual (USD) 286 298 295 286 193 175 259
year-on-year (%) 5.5 16.5 6.6 26.1 9.8 6.2 12.1
RevPAR actual (USD) 258 283 276 245 149 135 224
year-on-year (%) 12.5 17.6 9.7 41.2 6.6 6.4 15.7
Gross Revenue actual (USD'000) 1,489 1,509 1,674 1,434 1,001 932 8,042
year-on-year (%) 4.7 17.7 11.5 34.1 8.8 8.7 14.0
2019/07 2019/08 2019/09 2019/10 2019/11 2019/12 2019/07～12
Occupancy Rate actual (%) 83.3 64.3 52.3 67.4 78.9 86.9 72.3
year-on-year (points) 4.1 1.9 -4.0 -4.6 -5.9 -4.3 -2.1
ADR actual (USD) 177 160 135 138 172 266 181
year-on-year (%) 10.8 11.7 7.2 8.0 -2.8 10.9 7.6
RevPAR actual (USD) 147 103 71 93 136 232 131
year-on-year (%) 16.6 15.1 -0.5 1.0 -9.6 5.6 4.5
Gross Revenue actual (USD'000) 1,063 727 437 599 859 1,365 5,053
year-on-year (%) 18.3 13.0 -0.7 4.2 -6.9 6.8 6.2
    (Note 1) This property was acquired on Septemer 28, 2018.

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