Creating peace of mind through honest and committed management.

[Provisional Translation Only]
This English translation of the original Japanese document is provided solely for informational purposes.
Should there be any discrepancies between this translation and the Japanese original, the latter shall prevail.

January 25, 2016
REIT Issuer
Ichigo Hotel REIT Investment Corporation (3463)
1-1-1 Uchisaiwaicho, Chiyoda-ku, Tokyo
Representative: Osamu Miyashita, Executive Director
Asset Management Company
Ichigo Real Estate Investment Advisors Co., Ltd.
Representative: Wataru Orii, President & Representative Statutory Executive Officer
Inquiries: Hiroto Tajitsu, Head of Administration & Statutory Executive Officer
Tel: +81-3-3502-4892

Ichigo Hotel REIT Operating Results – December 2015
Ichigo Hotel REIT hereby announces its December 2015 Occupancy, ADR, RevPAR, and Revenues:
Dec 2015(A)
100.2

Dec 2014(B)
100.1

Difference(A-B)
+0.1

YOY
Change+0.1%

ADR (yen)

9,901

8,741

+1,160+13.3%

RevPAR (yen)

9,917

8,748

+1,169+13.4%

4539+6+15.4%

85.3

86.9

-1.6

‐1.8%

ADR (yen)

12,521

11,093+1,428+12.9%

RevPAR (yen)10,6759,640+1,035+10.7%

2926+3+11.5%

Occupancy (%)
Smile Hotel Kyoto
Shijo

Revenues (mm yen)Occupancy (%)
Hotel Vista Premio
Kyoto

Revenues (mm yen)

Hotel Wing
International Nagoya

Occupancy (%)

93.8

ADR (yen)

5,839

RevPAR (yen)

5,475

Revenues (mm yen)

Nest Hotel Sapporo
Ekimae42

Occupancy (%)

92.5

97.5-5.0‐5.1%

ADR (yen)

6,750

5,771+979+17.0%

RevPAR (yen)

6,244

5,625+619+11.0%

4640+6+15.0%

Occupancy (%)

87.983.8+4.1+4.9%

ADR (yen)

9,241

6,262+2,979+47.6%

RevPAR (yen)8,127

5,247+2,880+54.9%

33

21+12+57.1%

Revenues (mm yen)

Chisun Inn Osaka
Hommachi

Revenues (mm yen)1

Dec 2015(A)
92.8

Dec 2014(B)
96.7

Difference
(A-B)
-3.9

YOY
Change-4.0%

ADR (yen)

7,964

7,047+917+13.0%

RevPAR (yen)

7,391

6,815+576+8.5%

31

29+2+6.9%

Occupancy (%)

85.8

93.2

‐7.4

‐7.9%

ADR (yen)

9,556

6,783+2,773+40.9%

RevPAR (yen)

8,203

6,329

+1,874+29.6%

2117+4+23.5%

Occupancy (%)
Nest Hotel Sapporo
Odori

Revenues (mm yen)

Valie Hotel Tenjin

Revenues (mm yen)

Notes:
1. The above figures are as provided by the hotel operators and have not been audited. Because it is a
fixed rent lease with the operator, figures for Comfort Hotel Hamamatsu have not been included.
2. Occupancy is calculated using the following formula:
Occupancy = Total number of guest rooms occupied during the period/(number of guest rooms×
number of days the hotel was in operation during the period)
Occupancy may exceed 100% in the following cases: 1) a guest had pre-paid for a guest room but
checked out early, allowing the guest room to be occupied by a different guest; or 2) a guest room isoccupied for less than one day by different guests.
3. ADR or Average Daily Rate is calculated using the following formula:
ADR = Total revenues from accommodations (excluding restaurant charges and other service
fees)/number of guest rooms occupied.
4.

RevPAR is Revenue Per Available Room, i.e., total revenues from accommodations (excludingrestaurant charges and other service fees)/number of available guest rooms.

5.

Revenues are total revenues from accommodations and related services only. Non-hotel rental
income at Hotel Vista Premio Kyoto and Chisun Inn Osaka Hommachi is not included.

6. Data for Hotel Suave Kobe Asuta and past data for Hotel Wing International Nagoya are not included
above, as the hotel operators have not consented to the data’s disclosure.

Value Enhancement Activities
Ichigo Hotel REIT is carrying out guest room renovations at Nest Hotel Sapporo Ekimae, withguests using the newly refurbished rooms as soon as they are completed.
1. Renovation Objective and Details

Ichigo Hotel REIT is putting in new wallpaper and refurbishing the bath areas of all 162 guest
rooms to provide comfortable and comforting spaces for guests. The renovated guest rooms areclean and appealing. To accommodate both domestic and international tourist demand, 36
twin-bed rooms have also been converted to give them flexibility to be used as triple-bed rooms.
Nest Hotel Sapporo Ekimae is in downtown Sapporo and a six-minute walk from JR Sapporo
Station. Its position in a high-density area near a key transportation hub makes it an ideal hotelfor both business travelers and tourists. Since its rebranding in May 2013, the hotel’s ADR has
improved significantly due to better operations and more attractive breakfast menus. The
renovation will update the hotel’s facilities and can be expected to increase guest satisfaction byoffering a more refined atmosphere and guest experience.
Ichigo Hotel REIT will continue to work with its partner hotel operators to increase the value ofits hotel assets.

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2. Photos

BeforeAfter

Single-Bed RoomSingle-Bed RoomTwin-Bed RoomTwin-Bed Room

Triple-Bed Room

Ichigo Hotel REIT Website: www.ichigo-hotel.co.jp/english

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