[Translation for reference purposes only]
February 26, 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 January 2024

Ooedo Onsen Reit Investment Corporation (the “Investment Corporation”) has announced portfoliooperating results for January 2024.
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
January
2024
(A)

Data

January2023(B)

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)

Change(A-B)

Change＋4.8%

67.170.8

64.9

61.9

＋3.0

ADR (yen)

35,87032,083＋3,787＋11.8%

36,77332,718

RevPAR (yen)23,279941

19,859811＋3,420＋17.2%＋129＋15.9%

24,6742,000

23,164
1,895

Room occupancy rate (%)

Sales (mn yen)

-3.7＋4,055-5.2%＋12.4%＋1,510

＋6.5%

＋105

＋5.5%

Properties

Property

Data

Ooedo-Onsen
Monogatari
Reoma Resort(Hotel Reomano Mori)

Room occupancy rate (%)

Change(A-B)

ChangeChange

61.7

50.8

＋10.9

＋21.5%

66.9

65.7

＋1.2

＋1.8%

37,73535,768＋1,967＋5.5%

38,45435,788＋2,666＋7.4%

RevPAR (yen)23,282

18,170＋5,112＋28.1%

25,72523,512＋2,213＋9.4%

Sales (mn yen)206

159＋46＋29.1%

456

412

＋44 ＋10.7%

82.5

78.7＋3.8

＋4.8%

83.9

85.0

ADR (yen)

40,79533,303＋7,492＋22.5%

40,60534,602-1.1-1.3%＋6,003 ＋17.3%

RevPAR (yen)33,655

26,209＋7,446＋28.4%

34,067

29,411＋4,656 ＋15.8%

Sales (mn yen)98

77＋20＋26.1%

198

175

＋23 ＋13.2%

82.9

75.9＋7.0＋9.2%80.2

78.7＋1.5＋1.9%

ADR (yen)

36,81534,482＋2,333＋6.8%

37,68735,962＋1,725＋4.8%

RevPAR (yen)30,51926,171＋4,348＋16.6%

30,22428,302＋1,922＋6.8%

Sales (mn yen)111

96＋15＋16.2%

221

208＋12＋6.2%

Room occupancy rate (%)

Ito Hotel New
Okabe

January2023(B)

ADR (yen)

Room occupancy rate (%)

Ooedo-Onsen
MonogatariIse-shima

January2024(A)

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

1Property

Data

Ooedo-Onsen
Monogatari
Toi Marine
Hotel

85.4

-12.9
＋6,138-15.1%＋18.1%

71.4

85.0

33,96041,57035,233-13.6＋6,337-16.0%＋18.0%

RevPAR (yen)29,071

29,001＋70＋0.2%

29,68029,948

-268

-0.9%

Sales (mn yen)74

77

-2-3.4%152

160-7-4.8%

73.8

62.5

＋11.3

＋18.1%

71.7

73.4

ADR (yen)

33,471

31,709＋1,762＋5.6%

34,25831,061-1.7＋3,197-2.3%＋10.3%

RevPAR (yen)24,701

19,818＋4,883＋24.6%

24,562

22,798＋1,764＋7.7%

Sales (mn yen)52

42＋9＋22.8%

105

99＋5＋6.0%

Room occupancy rate (%)

49.0

59.3
25,187-17.4%＋31.4%

67.4

33,105-10.3＋7,91859.9

ADR (yen)

35,142

27,513-7.5＋7,629-11.1%＋27.7%

RevPAR (yen)16,221

14,935＋1,286＋8.6%

21,05018,543＋2,507＋13.5%

53

49＋4＋8.1%

137

123

＋14＋12.1%

74.5

76.2

81.0

33,95233,405

-2.2%
＋1.6%

78.0

ADR (yen)-1.7＋547

35,55535,198-3.0＋357

-3.7%
＋1.0%

RevPAR (yen)25,29425,454

-160

-0.6%

27,73228,510-778-2.7%

Room occupancy rate (%)

34

35-0-1.5%

7579-3-4.5%

85.0

85.3

86.9

32,46029,883

-0.4%
＋8.6%

82.6

ADR (yen)-0.3＋2,577

33,63330,784-4.3＋2,849

-4.9%
＋9.3%

RevPAR (yen)27,591

25,490＋2,101＋8.2%

27,78026,751＋1,029＋3.8%

Sales (mn yen)4442＋2＋4.9%

8887＋1＋1.2%

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

Room occupancy rate (%)

61.8

54.2

＋7.6

＋14.0%

60.0

63.6

ADR (yen)

28,70328,81628,193-3.6＋1,640-5.7%＋5.8%

17,73815,618-0.4%＋13.6%

29,833

RevPAR (yen)-113＋2,12017,89917,930-31-0.2%

Sales (mn yen)69

62＋7＋11.4%

141

143-2-1.6%

Room occupancy rate (%)

Ooedo-Onsen
Monogatari
Kounkaku

49.4

54.5
32,910-9.4%＋20.4%

64.6

39,627-5.1＋6,717

53.0

ADR (yen)

39,81932,947-11.6＋6,872-18.0%＋20.9%

RevPAR (yen)19,575

17,935＋1,640＋9.1%

21,104

21,283

-179

-0.8%

Sales (mn yen)

116

107

＋8＋8.3%254

257-3-1.2%

Room occupancy rate (%)

Kinugawa
Kanko Hotel

Ooedo-Onsen
Monogatari
Higashiyama
Grand Hotel

Change72.5

Sales (mn yen)
Ooedo-Onsen
Monogatari
Ikaho

Change(A-B)

40,098

Room occupancy rate (%)

Ooedo-Onsen
Monogatari
AwaraJanuary
2023
(B)

ADR (yen)

Room occupancy rate (%)

Ooedo-Onsen
Monogatari
Atami

January2024(A)

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)

60.7

52.8

＋7.9

＋15.0%

62.3

63.7

ADR (yen)

31,58827,723＋3,865＋13.9%

32,602

28,217-1.4＋4,385-2.2%＋15.5%

RevPAR (yen)19,173

14,637＋4,536＋31.0%

20,311

17,974＋2,337＋13.0%

Room occupancy rate (%)

Sales (mn yen)
＋18＋30.4%＋19 ＋13.2%
7860
167
148
Notes:
1. The Fifteenth Period is from December 1, 2023 to May 31, 2024. This press release presents cumulative data through January
31, 2024.
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.
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
January
2024
(A)

Data

Number of guests
Sales (mn yen)

27,101
123

January2023(B)

31,138120

Change(A-B)

Change-4,037＋3-13.0%＋2.8%

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)

79,244341

94,159353

Change-14,915-12-15.8%-3.5%

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・Thanks to revenue management based on the results of nationwide travel support the previous year, each item increased comparedto the same month last year.

・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 used
for residential purposes.

Data

January2024(A)

January
2023(B)

Change(A-B)

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)

ChangeChangeOccupancy rate (%)

96.3

---

96.3

---

Price/tsubo CAM inclusive (yen)

6,793

---

6,793

---

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 (%)* The Investment Corporation’s website: https://oom-reit.com/en/3