[Translation for reference purposes only]
January 25, 2024

To all parties concerned:

Real Estate Investment Trust Securities Issuer:
Ooedo Onsen Reit Investment Corporation
Representative:
Takeshi Kirihara,
Executive Director(Securities Code: 3472)
Asset Manager:
APA Investment Management Co., Ltd.
Representative: Takeshi Kirihara,
Chief Executive Officer
Inquiries:
Tomohiro Honda,Director, Chief Financial Officer(TEL: +81-3-6262-5456)
Notice Concerning Monthly Disclosure for December 2023

Ooedo Onsen Reit Investment Corporation (the “Investment Corporation”) has announced portfoliooperating results for December 2023.
1. Operational status and KPI of owned facilities(1) Utilizing-leisure-time facilities: ryokan, hotels, or other facilities available for or possibly available for lodging,and for baths, resort facilities, amusement parks, or other facilities.
Entire Portfolio

Data

December
2023(A)

December
2022
(B)

69.2

79.7

Change(A-B)

Change-13.2%＋13.3%

37,619

-1.7%
-2.3%

26,032
1,058

ADR (yen)

37,61933,211-10.5＋4,408

RevPAR (yen)26,032
1,058

26,4691,083-437-24Room occupancy rate (%)

Sales (mn yen)

Period Ending May 31, 2024
(December 1, 2023 to May 31, 2024)
Previous
Current Period
Corresponding
Total
ChangePeriod Total
Change(Cumulative)(C-D)(Cumulative)
(C)
(D)

69.2

79.7
33,211-10.5＋4,408-13.2%＋13.3%

26,469
1,083

-437
-24

-1.7%
-2.3%

Properties

Property

Data

Ooedo-Onsen
Monogatari
Reoma Resort(Hotel Reomano Mori)

Room occupancy rate (%)

Change(A-B)

Change-10.5%
＋9.1%

72.2

80.7

72.2

80.7

39,06835,801-8.5＋3,26739,068

RevPAR (yen)28,20728,891-684-2.4%

28,207

Sales (mn yen)

250

252

-2-0.9%250

Change35,801-8.5＋3,267-10.5%＋9.1%

28,891-684-2.4%

252-2-0.9%

85.3

91.3
35,723-6.6%＋13.2%

91.3

40,422-6.0＋4,699

85.3

ADR (yen)

40,42235,723-6.0-6.6%＋4,699 ＋13.2%

RevPAR (yen)34,47932,615＋1,864＋5.7%

34,47932,615＋1,864＋5.7%

Sales (mn yen)100

97＋2＋3.0%10097＋2＋3.0%

77.5

81.6
37,338-5.0%
＋3.4%

81.6

38,620-4.1＋1,28277.5

ADR (yen)

38,62037,338-4.1＋1,282

-5.0%
＋3.4%

RevPAR (yen)29,93030,467-537-1.8%

29,93030,467

-537

-1.8%

Sales (mn yen)

109

112

-2-2.4%109

112-2-2.4%

Room occupancy rate (%)

Ito Hotel New
Okabe

December
2022(B)

ADR (yen)

Room occupancy rate (%)

Ooedo-Onsen
MonogatariIse-shima

December
2023(A)

Period Ending May 31, 2024
(December 1, 2023 to May 31, 2024)
Previous
Current Period
CorrespondingTotalChange
Period Total(Cumulative)(C-D)(Cumulative)
(C)
(D)

1

Property

Data

Ooedo-Onsen
Monogatari
Toi Marine
Hotel

84.7

-14.5
＋6,574-17.1%＋18.0%

70.2

84.7

36,51543,08936,515-14.5＋6,574-17.1%＋18.0%

RevPAR (yen)30,24830,928

-680

-2.2%

30,24830,928

-680

-2.2%

Sales (mn yen)

77

82

-5-6.0%77

82-5-6.0%69.7

84.3
30,580-17.3%＋14.8%

84.3

35,093-14.6＋4,51369.7

ADR (yen)

35,09330,580-14.6＋4,513-17.3%＋14.8%

RevPAR (yen)24,45925,778-1,319-5.1%

24,45925,778-1,319-5.1%

Sales (mn yen)5256

-3-6.8%52

56-3-6.8%

Room occupancy rate (%)

70.8

75.4
29,341-6.1%＋24.6%

75.4

36,553-4.6＋7,212

70.8

ADR (yen)

36,55329,341-4.6＋7,212-6.1%＋24.6%

RevPAR (yen)25,87922,123＋3,756＋17.0%

25,87922,123＋3,756＋17.0%

8473＋10＋14.8%

8473＋10＋14.8%

81.5

85.7

85.7

37,01936,792

-4.9%
＋0.6%

81.5

ADR (yen)

-4.2
＋227

37,01936,792-4.2＋227-4.9%＋0.6%

RevPAR (yen)30,17031,530-1,360-4.3%

30,17031,530-1,360-4.3%

Room occupancy rate (%)

41

44-3-6.8%41

44-3-6.8%

80.3

88.6

88.6

34,87531,651-9.4%＋10.2%

80.3

ADR (yen)-8.3＋3,22434,87531,651-8.3＋3,224-9.4%＋10.2%

RevPAR (yen)28,00428,042-38-0.1%

28,00428,042-38-0.1%

Sales (mn yen)44

45

-1-2.3%4445-1-2.3%

Sales (mn yen)
Ooedo-Onsen
Monogatari
Kimitsu-nomori

Room occupancy rate (%)

58.2

73.0
27,731-20.3%＋11.9%

73.0

31,033-14.8＋3,302

58.2

ADR (yen)

31,03327,731-14.8＋3,302-20.3%＋11.9%

RevPAR (yen)18,061

20,243-2,182-10.8%

18,061

20,243-2,182-10.8%

Sales (mn yen)71

81-9-11.6%

71

81-9-11.6%

Room occupancy rate (%)

Ooedo-Onsen
Monogatari
Kounkaku

56.5

74.7
32,974-24.4%＋21.3%

74.7

39,988-18.2＋7,014

56.5

ADR (yen)

39,98832,974-18.2＋7,014-24.4%＋21.3%

RevPAR (yen)22,593

24,631-2,038-8.3%

22,593

24,631-2,038-8.3%

Sales (mn yen)

137

149

-12-8.1%

137

149-12-8.1%

Room occupancy rate (%)

Kinugawa
Kanko Hotel

Ooedo-Onsen
Monogatari
Higashiyama
Grand Hotel

Change70.2

Sales (mn yen)
Ooedo-Onsen
Monogatari
Ikaho

Change(A-B)

43,089

Room occupancy rate (%)

Ooedo-Onsen
Monogatari
Awara

December
2022(B)

ADR (yen)

Room occupancy rate (%)

Ooedo-Onsen
Monogatari
Atami

December
2023(A)

Period Ending May 31, 2024
(December 1, 2023 to May 31, 2024)
PreviousCurrent Period
Corresponding
Total
ChangePeriod Total
Change(Cumulative)(C-D)(Cumulative)
(C)
(D)

63.9

74.7
28,567-14.5%＋17.5%

74.7

33,567-10.8＋5,00063.9

ADR (yen)

33,56728,567-10.8＋5,000-14.5%＋17.5%

RevPAR (yen)21,44921,339＋110＋0.5%

21,44921,339

＋110

＋0.5%

Room occupancy rate (%)

Sales (mn yen)
＋1＋1.4%＋1＋1.4%
89888988
Notes:
1. The Fifteenth Period is from December 1, 2023 to May 31, 2024. This press release presents cumulative data through December
31, 2023.
2. The above data is generally tenant information. However, some data are calculated by APA Investment Management Co., Ltd.
based on tenant information. The above data June have been compiled using accounting and other standards that differ from thosethe Investment Corporation applies. It is unaudited, and its accuracy and completeness are not guaranteed. In addition, the above
data June not match data presented in materials such as the annual securities report.
3. Room occupancy rate is calculated using the following formula and is rounded to the nearest tenth:
Room occupancy rate = total rooms sold during the period ÷ total rooms available during the period × 100 (%)
However, total rooms available during the period include rooms of which sales are suspended due to renovation work, etc.
4. Average daily rate (ADR) is calculated for a given time period by dividing total room revenue by total rooms sold and is rounded
down to the nearest specified unit.
5. Revenue per available room (RevPAR) is calculated for a given time period by dividing total room revenue by total rooms
available, and is rounded down to the nearest specified unit. RevPAR can also be calculated by multiplying ADR by the room
occupancy rate.
6. Sales is income from guests from the operation of lodging and related businesses, and is rounded down to the nearest million yen.
7. Operating results for Ito Hotel New Okabe include Surugatei, which the Investment Corporation does not own.
8. Operating results for Ooedo-Onsen Monogatari Kounkaku include the annex, which the Investment Corporation does not own.

2Ooedo-Onsen Monogatari Reoma Resort (New Reoma World): Number of Guests and Sales
December
2023
(A)

Data

Number of guests
Sales (mn yen)

52,143217

December
2022(B)

63,021
233

Change(A-B)

Change-10,878-15-17.3%-6.7%

Period Ending May 31, 2024
(December 1, 2023 to May 31, 2024)
Previous
Current Period
Corresponding
Total
ChangePeriod Total(Cumulative)(C-D)(Cumulative)(C)(D)

52,143217

63,021
233

Change-10,878-15-17.3%-6.7%

Reference: Year-on-Year Comparison of Number of Guests and Sales for Ooedo-Onsen Monogatari Reoma Resort(New Reoma World)

Notes:
1. Number of guests is the total number of people using New Reoma World during the period.
2. The above data is generally tenant information. However, some data are calculated by APA Investment Management Co., Ltd.
based on tenant information. The above data have been compiled using accounting and other standards that differ from those theInvestment Corporation applies. It is unaudited, and its accuracy and completeness are not guaranteed. In addition, the above data
do not match data presented in materials such as the annual securities report.

Additional Notes
・Although the price per person increased due to hotel revenue management that reflected the previous year's National Travel Support,
RevPAR decreased as a result of lower occupancy rates.

・For the financial results forecasts of the Investment Corporation, please refer to the "Summary of REIT Financial Report for the 15th
Fiscal Period" published on January 22, 2024.

(2) Accommodation facilities: rental houses, student apartments, company dormitories, serviced apartments,
shared houses and senior citizen facilities and residences, etc. and other facilities used or capable of being usedfor residential purposes.
Period Ending May 31, 2024
(December 1, 2023 to May 31, 2024)
Previous
Current Period
Corresponding
Period Total
ChangePeriod Total(Cumulative)(C-D)(Cumulative)(C)(D)

December
2023(A)

December2022(B)

Occupancy rate (%)

96.3

---

96.3

---

Price/tsubo CAM inclusive (yen)

6,793

---

6,793

---

Data

Change(A-B)

ChangeChangeNotes:
1. Accommodation facilities are L-Place Miyazakidai, JMR Residence Shin-Osaka, K. Ryokuchi, and Fiel Hakusankoen Niigata
Hakusankoen.
2. Each occupancy rate is calculated using the following formula and is rounded to the nearest tenth:
Monthly occupancy rate = leased area as of the end of the month ÷ total leasable area as of the end of the month × 100 (%)
Period cumulative occupancy rate = period cumulative of leased area as of the end of each month ÷ period cumulative of total
leasable area as of the end of each month × 100 (%)* The Investment Corporation’s website: https://oom-reit.com/en/

3