[Translation for reference purposes only]
December 25, 2023

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 November 2023

Ooedo Onsen Reit Investment Corporation (the “Investment Corporation”) has announced portfoliooperating results for November 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
November
2023(A)

November
2022
(B)

83.9

84.9

ADR (yen)

32,561

28,884

RevPAR (yen)27,318
1,085

24,522
1,004

Data

Room occupancy rate (%)

Sales (mn yen)

Change(A-B)

Change-1.0＋3,677-1.2%＋12.7%＋2,796＋11.4%＋81＋8.1%

Period Ending November 30, 2023
(June 1, 2023 to November 30, 2023)
Previous
15th
Corresponding
Period Total
ChangePeriod Total
Change(Cumulative)(C-D)(Cumulative)
(C)
(D)

76.5

72.3

＋4.2

34,301

31,662＋2,639＋8.3%

26,2406,324

22,891
5,572＋3,349＋14.6%＋751＋13.5%＋5.8%

Properties

Property

Data

Ooedo-Onsen
Monogatari
Reoma Resort(Hotel Reomano Mori)

Room occupancy rate (%)

Change(A-B)

ChangeChange86.2

81.7＋4.5＋5.5%

75.8

66.730,69328,869＋1,824＋6.3%

36,54135,243＋1,298

RevPAR (yen)26,457

23,585＋2,872＋12.2%

27,69823,507＋4,191 ＋17.8%

Sales (mn yen)

233

216＋17＋8.0%

1,490

1,273

＋216 ＋17.0%＋9.1 ＋13.6%
＋3.7%

91.6

89.6＋2.0＋2.2%

82.2

81.3

＋0.9＋1.1%

ADR (yen)

37,49731,428＋6,069＋19.3%

37,56933,633＋3,936＋11.7%

RevPAR (yen)34,34728,159＋6,188＋22.0%

30,881

27,343＋3,538 ＋12.9%

Sales (mn yen)96

83＋13＋16.1%

529

476＋53＋11.1%

83.2

83.6
30,741-0.5%＋10.6%

70.4

33,994-0.4＋3,253

80.5

ADR (yen)

34,82432,646＋2,178

RevPAR (yen)28,28325,699＋2,584＋10.1%

28,033

22,982＋5,051 ＋22.0%

Sales (mn yen)101

93＋7＋8.5%

606

501

＋105 ＋21.0%

Room occupancy rate (%)

Ito Hotel New
Okabe

November
2022(B)

ADR (yen)

Room occupancy rate (%)

Ooedo-Onsen
MonogatariIse-shima

November
2023(A)

Period Ending November 30, 2023
(June 1, 2023 to November 30, 2023)
Previous
15th
CorrespondingPeriod Total
ChangePeriod Total(Cumulative)(C-D)(Cumulative)(C)(D)

1＋10.1 ＋14.3%＋6.7%

Property

Data

Ooedo-Onsen
Monogatari
Toi Marine
Hotel

Change(C-D)

Change-14.6%＋21.0%

76.0

81.6

39,96033,330-5.6＋6,630-6.9%＋19.9%

RevPAR (yen)27,79426,892

＋902

＋3.4%

30,36927,197＋3,172＋11.7%

Sales (mn yen)70

71

-0-0.7%467

427＋39＋9.3%

78.1

91.0

＋3.4

＋4.7%

27,394-14.2%＋10.3%

72.7

30,222-12.9＋2,82876.1

ADR (yen)34,957

34,307＋650＋1.9%

RevPAR (yen)23,60324,928-1,325-5.3%

26,602

24,941＋1,661＋6.7%

Sales (mn yen)

50

53-2-5.2%

338

317

＋20＋6.5%

Room occupancy rate (%)

86.7

87.4

＋0.5

＋0.7%

26,049-0.8%＋22.5%

74.1

31,915-0.7＋5,86674.6

ADR (yen)

33,512

29,485＋4,027＋13.7%

RevPAR (yen)27,67022,766＋4,904＋21.5%

24,99921,848＋3,151＋14.4%

8774＋12＋17.4%

479

424

＋54＋12.9%

94.3

83.7

＋10.6

＋12.7%

88.4

80.2＋8.2＋10.2%

ADR (yen)

34,19934,262＋2,175＋6.5%

28,677-0.2%＋12.5%

33,421

32,249-63＋3,572

35,596

RevPAR (yen)31,46626,803＋4,663＋17.4%

4339＋3＋8.5%

254

224

＋30

＋13.6%

77.3

83.5

78.7

32,157

26,386-7.4%＋21.9%

78.5

ADR (yen)-6.2＋5,771

31,73528,690-0.2＋3,045-0.3%＋10.6%

RevPAR (yen)24,85722,032＋2,825＋12.8%

24,911

22,579＋2,332＋10.3%

Sales (mn yen)

3936＋3＋10.9%239

220＋19＋8.9%

Room occupancy rate (%)

71.1

76.7＋9.9＋20.4%

24,651-7.3%＋15.5%

48.6

28,481-5.6＋3,830

58.5

ADR (yen)

27,437

26,250＋1,187＋4.5%

RevPAR (yen)20,24918,907＋1,342＋7.1%

16,05012,757＋3,293＋25.8%

Sales (mn yen)78

75＋3＋4.2%

376

305

＋71＋23.4%

87.3

89.1

＋2.5＋3.2%

31,082

-2.0%
＋9.5%

78.1

34,032-1.8＋2,95080.6

ADR (yen)

33,65030,861＋2,789＋9.0%

RevPAR (yen)29,70927,694＋2,015＋7.3%

27,121

24,102＋3,019＋12.5%

Sales (mn yen)

173

165

＋7＋4.7%955

854＋100＋11.7%

Room occupancy rate (%)

Ooedo-Onsen
Monogatari
Higashiyama
Grand Hotel

Period Total(Cumulative)(D)-12.7＋6,498

Room occupancy rate (%)

Kinugawa
Kanko Hotel

Corresponding

87.0

Sales (mn yen)

Ooedo-Onsen
Monogatari
Kounkaku

15th
Period Total(Cumulative)(C)

30,911Room occupancy rate (%)

Ooedo-Onsen
Monogatari
Kimitsu-nomori

Change74.3

Sales (mn yen)
Ooedo-Onsen
Monogatari
Ikaho

Change(A-B)

37,409

Room occupancy rate (%)

Ooedo-Onsen
Monogatari
Awara

November
2022(B)

ADR (yen)

Room occupancy rate (%)

Ooedo-Onsen
Monogatari
Atami

November
2023(A)

Period Ending November 30, 2023
(June 1, 2023 to November 30, 2023)
Previous

87.3

85.4

＋1.9＋2.2%

79.7

80.7

ADR (yen)

31,124

26,767＋4,357＋16.3%

30,342

27,578-1.0＋2,764-1.2%＋10.0%

RevPAR (yen)27,171

22,859＋4,312＋18.9%

24,182

22,255＋1,927＋8.7%

Room occupancy rate (%)

Sales (mn yen)
＋14＋15.4%＋40＋7.4%
10994585
545
Notes:
1. The Fifteenth Period is from June 1, 2023 to November 30, 2023. This press release presents cumulative data through November
30, 2023. The previous corresponding period began on June 1, 2022 and ended November 30, 2022, for which this press releasepresents cumulative data through November 30, 2022. The same applies to all following data.
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 roomoccupancy 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
November
2023
(A)

Data

Number of guests
Sales (mn yen)

39,643
166

November
2022(B)

Change(A-B)

46,669181

Change-7,026-15-15.1%-8.3%

Period Ending November 30, 2023(June 1, 2023 to November 30, 2023)
Previous
15th
Corresponding
Period Total
ChangePeriod Total(Cumulative)(C-D)(Cumulative)(C)(D)

284,885
1,309

303,087
1,215-18,202＋93

Change

-6.0%
＋7.7%

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
・The occupancy rate decreased due to the discontinuation of the National Travel Support that was implemented last year, but RevPAR
increased due to an increase in the price per person.

・For the financial results forecasts of the Investment Corporation, please refer to the "Notice Concerning Revisions to Forecasts ofFinancial Results and Distributions for the Fiscal Period Ending November 30, 2023 and May 31, 2024" published on September
25, 2023.

(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 used
for residential purposes.

DataNovember
2023
(A)

November2022(B)

Occupancy rate (%)

95.5-Change(A-B)

Period Ending November 30, 2023
(June 1, 2023 to November 30, 2023)
Previous
15th
Corresponding
Period Total
ChangePeriod Total
Change(Cumulative)(C-D)(Cumulative)(C)(D)

Change--

95.3

--

6,800
6,796
Notes:
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 (%)
Price/tsubo CAM inclusive (yen)* The Investment Corporation’s website: https://oom-reit.com/en/3-