[Translation for reference purposes only]
July 25, 2024

To all parties concerned:

Real Estate Investment Trust Securities Issuer:
Nippon Hotel & Residential 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
Chief Planning &Coordination Officer(TEL: +81-3-6262-5456)
Notice Concerning Monthly Disclosure for June 2024

Nippon Hotel & Residential Investment Corporation (the “Investment Corporation”) has announced
portfolio operating results for June 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
June2024(A)

Data

June2023(B)

Change(A-B)

ChangePeriod Ending November 30, 2024
(June 1, 2024 to November 30, 2024)
Previous
Current Period
Corresponding
Total
ChangePeriod Total
Change(Cumulative)(C-D)(Cumulative)
(C)
(D)

70.7

73.8
26,185-4.2%
＋2.0%

73.8

26,713

-3.1
＋528

70.7

ADR (yen)

26,713

26,185-3.1＋528

RevPAR (yen)18,886

19,324

-438

-2.3%

18,886

19,324-438

-2.3%

515
719
-204
-28.4%
515*The difference in sales is due to the impact of two facilities closed for renovation work.
(Ooedo-Onsen Monogatari Ise-shima , Kinugawa Kanko Hotel , Ooedo-Onsen Monogatari Atami)

719

-204

-28.4%

Room occupancy rate (%)

Sales (mn yen)

Properties

PropertyDataOoedo-Onsen
Monogatari
Reoma Resort(Hotel Reomano Mori)

Room occupancy rate (%)

June2024(A)

June2023(B)

Change(A-B)

ChangePeriod Ending November 30, 2024
(June 1, 2024 to November 30, 2024)
Previous
Current Period
Corresponding
Total
ChangePeriod Total(Cumulative)(C-D)(Cumulative)
(C)
(D)

-4.2%
＋2.0%

Change

63.5

64.6

-1.1

-1.7%

63.5

64.6

-1.1

-1.7%

ADR (yen)

26,46925,324＋1,145＋4.5%

26,46925,324＋1,145＋4.5%

RevPAR (yen)16,807

16,359＋448＋2.7%

16,807

16,359＋448＋2.7%

Sales (mn yen)151

155-4-2.6%

151

155-4-2.6%

Room occupancy rate (%)

85.0

83.1

＋1.9＋2.3%

85.0

83.1

＋1.9＋2.3%

35,92429,403＋6,521＋22.2%

35,92429,403＋6,521 ＋22.2%

30,53524,433＋6,102＋25.0%

30,53524,433＋6,102 ＋25.0%

1965-46-70.8%

1965

Ooedo-Onsen
Monogatari
ADR (yen)Ise-shima(Closed until RevPAR (yen)June 23, 2024) Sales (mn yen)

1-46-70.8%

Property

Data

Ooedo-Onsen
MonogatariAtami(Closed until
July 21, 2024)
Ooedo-Onsen
Monogatari
Toi Marine
Hotel

Ooedo-Onsen
Monogatari
Kimitsu-nomori

81.5-6.9-8.5%

74.6

81.5

-6.9

28,780-1,642-5.7%

27,13828,780-1,642-5.7%

RevPAR (yen)20,24423,455-3,211-13.7%

20,24423,455-3,211-13.7%

Sales (mn yen)

Kinugawa
Kanko Hotel(Closed until
July 21, 2024)
Ooedo-Onsen
Monogatari
Higashiyama
Grand Hotel-8.5%

6470-6-8.6%

6470-6-8.6%

Room occupancy rate (%)-81.7---81.7--

ADR (yen)-

31,945---31,945--

RevPAR (yen)-26,099---26,099--

Sales (mn yen)-40---

40

-

-

57.6

66.2

-8.6

-13.0%

57.6

66.2

-8.6

-13.0%ADR (yen)

24,17424,252-78-0.3%

24,17424,252-78-0.3%

RevPAR (yen)13,924

16,054-2,130-13.3%

13,924

16,054-2,130-13.3%

Sales (mn yen)27

31-4-12.9%

27

31-4-12.9%

Room occupancy rate (%)

68.3

64.8＋3.5＋5.4%

68.3

64.8＋3.5＋5.4%

ADR (yen)

28,53922,824＋5,715＋25.0%

28,53922,824＋5,715＋25.0%

RevPAR (yen)19,492

14,789＋4,703＋31.8%

19,492

14,789＋4,703＋31.8%

Sales (mn yen)

54

47＋7＋14.9%

5447＋7＋14.9%

99.2

88.9

＋10.3

＋11.6%

99.2

88.9

＋10.3

＋11.6%ADR (yen)

28,39430,14030,14028,166

26,794-5.8%＋5.1%

28,394

RevPAR (yen)-1,746＋1,372

28,166

26,794-1,746＋1,372-5.8%＋5.1%

Sales (mn yen)3632＋4＋12.5%

3632＋4＋12.5%

82.381.7＋0.6＋0.7%

82.3

81.7＋0.6＋0.7%

ADR (yen)

27,046

26,841

＋205

＋0.8%

27,046

26,841＋205＋0.8%

RevPAR (yen)22,25821,929＋329＋1.5%

22,25821,929

＋329

＋1.5%

Room occupancy rate (%)

32

32＋0＋0.0%

32

32＋0＋0.0%

59.9

63.2

63.2

24,057

22,698

-5.2%
＋6.0%

59.9

ADR (yen)-3.3＋1,35924,057

22,698-3.3＋1,359

-5.2%
＋6.0%

RevPAR (yen)14,41014,345＋65＋0.5%

14,41014,345＋65＋0.5%

Sales (mn yen)4547-2-4.3%

4547-2-4.3%

Sales (mn yen)
Room occupancy rate (%)

Ooedo-Onsen
Monogatari
Kounkaku

Change74.6

Room occupancy rate (%)

Ooedo-Onsen
Monogatari
Ikaho

Change(A-B)

27,138

Room occupancy rate (%)

Ooedo-Onsen
Monogatari
Awara

June
2023
(B)

ADR (yen)

Room occupancy rate (%)

Ito Hotel New
Okabe

June2024(A)

Period Ending November 30, 2024
(June 1, 2023 to November 30, 2024)
Previous
Current Period
CorrespondingTotal
ChangePeriod Total
Change(Cumulative)(C-D)(Cumulative)(C)(D)

Room occupancy rate (%)

-

78.8-

-

-

78.8-

-

ADR (yen)-

25,381---

25,381--

RevPAR (yen)-20,000---20,000--

Sales (mn yen)

-

109-

-

-

109

-

-

82.7

82.3

＋0.4

＋0.5%

82.7

82.3

＋0.4

＋0.5%

ADR (yen)

25,79825,84425,844

21,334

21,269

-0.2%
＋0.3%

25,798

RevPAR (yen)-46＋65

21,334

21,269-46＋65

-0.2%
＋0.3%

84

84＋0

Room occupancy rate (%)＋0＋0.0%84
Notes:
1. The Fifteenth Period is from June 1, 2024 to November 30, 2024. This press release presents cumulative data through June 30,2024.
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 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.
Sales (mn yen)

2＋0.0%

84

Ooedo-Onsen Monogatari Reoma Resort (New Reoma World): Number of Guests and Sales
June2024(A)

Data

Number of guests

Sales (mn yen)June2023(B)

25,746102

Change(A-B)

31,097
116

Change-5,351-14-17.2%-12.1%

Period Ending November 30, 2024
(June 1, 2023 to November 30, 2024)
Previous
Current Period
Corresponding
Total
ChangePeriod Total(Cumulative)(C-D)(Cumulative)(C)(D)

25,746102

31,097
116

Change-5,351-14-17.2%-12.1%

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
・Ooedo-Onsen Monogatari Ise-Shima was closed from March 1st to June 23rd, 2024 due to facility renovation work.
・Kinugawa Kanko Hotel is closed from March 1st to July 21st, 2024 due to facility renovation work.
・Ooedo-Onsen Monogatari Atami is closed from April 8th to July 21st, 2024 due to facility renovation work.
・In Shizuoka Prefecture, where Ito Hotel New Okabe and Ooedo-Onsen Monogatari Toi Marine Hotel are located, the ADR andoccupancy rates of these facilities have declined due to the cancellation of the nationwide travel support program that ran from April 1to June 30 last year.
・In monthly disclosures up until February 2024, even rooms that were unavailable for sale due to various construction work or otherreasons were included in the number of rooms available for sale during the target period. However, from this disclosure onwards, thenumber of rooms that are unavailable for sale due to various construction work or other reasons will not be included in the number ofrooms available for sale during the target period.
・For the financial results forecasts of the Investment Corporation, please refer to the "Summary of REIT Financial Report for the 16th
Fiscal Period" published on July 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.

Data

June
2024
(A)

June
2023
(B)

Change(A-B)

Period Ending November 30, 2024
(June 1, 2024 to November 30, 2024)
PreviousCurrent Period
Corresponding
Period Total
ChangePeriod Total
Change(Cumulative)(C-D)(Cumulative)(C)(D)

ChangeOccupancy rate (%)

97.5

---

97.5

---

Price/tsubo CAM inclusive (yen)

6,765

---

6,765

---

3

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://nhr-reit.com/en/4