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

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

Ichigo Hotel REIT Operating Results – June 2016
Ichigo Hotel REIT hereby announces its June 2016 RevPAR, Occupancy, ADR, and Revenues:
Total RevPAR, Occupancy, and ADR of Ichigo Hotel REIT Portfolio Assets
June
2016
(A)

June2015(B)

Difference(A-B)

Current Fiscal Period
Feb 2016－June 2016
YOY
YOY
Cumulative
Difference
ChangeYOYChange

RevPAR (yen)

7,077

6,868+209+3.0%

7,566+444+6.2%

Occupancy (%)

86.4

91.7-5.3

-5.8%

90.6%

-2.0%

-2.2%

ADR (yen)

8,190

7,486+704+9.4%

8,348+663+8.6%

RevPAR, Occupancy, ADR, and Revenues for Individual Assets
June2016(A)

Smile Hotel
Kyoto Shijo

Difference
(A-B)

YOY
ChangeCurrent Fiscal Period
Feb 2016－June 2016
YOY
YOY
Cumulative
Difference Change

RevPAR (yen)

8,799

6,711

+2,088+31.1%

12,063+957+8.6%

Occupancy (%)

100.1

100.1－－

100.1－－ADR (yen)

8,793

6,706+2,086+31.1%

12,048+955+8.6%

3930+9+29.3%

263+19+7.8%

RevPAR (yen)9,500

7,633+1,867+24.5%

12,531+1,301+11.6%

Occupancy (%)

88.4

85.0+3.4+4.0%

91.7+0.4+0.4%

10,7458,980+1,765+19.7%

13,661+1,366+11.1%

2621+5+25.2%

170+19+12.8%

Revenues (mm yen)

Hotel Vista
Premio Kyoto

June
2015
(B)

ADR (yen)

Revenues (mm yen)

1June2016(A)
Hotel Wing
InternationalNagoya

Current Fiscal Period
Feb 2016－June 2016
YOYYOY
Cumulative
Difference Change
5,486Occupancy (%)

76.6

92.6

ADR (yen)

5,451

5,928

32208

RevPAR (yen)10,061

8,893+1,168+13.1%

7,628+1,007+15.2%

Occupancy (%)

98.2

98.1

+0.1

+0.1%

98.3

+0.6

+0.6%

10,242

9,065+1,178+13.0%

7,756

+982

+14.5%

5955+4+7.4%242+21+9.3%

RevPAR (yen)

7,785

6,588

+1,198+18.2%

8,712+2,046+30.7%

Occupancy (%)

88.3

85.6

+2.7

+3.1%

88.7

+0.6

+0.7%

ADR (yen)

8,816

7,697+1,119+14.5%

9,818+2,255+29.8%

3026+5+18.1%

171+41+31.6%

Revenues (mm yen)

Revenues (mm yen)

Comfort Hotel
Hamamatsu

YOYChange

4,175

ADR (yen)

Chisun Inn
Osaka
HommachiDifference(A-B)

RevPAR (yen)

Revenues (mm yen)
Nest Hotel
SapporoEkimae

June
2015
(B)

RevPAR (yen)

4,739

5,074

Occupancy (%)

79.8%

81.9

ADR (yen)

5,937

6,199

28150

Revenues (mm yen)
RevPAR (yen)10,901

10,898+3+0.0%8,576+570+7.1%

Nest HotelOccupancy (%)

95.2

97.1-1.9-2.0%

95.0-1.3-1.3%

Sapporo Odori

ADR (yen)

11,456

11,228+228+2.0%

9,023+712+8.6%

4242-0-0.6%

172+11+7.0%

RevPAR (yen)6,896

6,648+248

+3.7%

8,036

+1,347+20.1%

Valie HotelOccupancy (%)

78.7%

93.9

-15.2

-16.1%

83.3

-8.2

-9.0%

TenjinADR (yen)

8,757

7,074

+1,683+23.8%

9,647+2,337+32.0%

1716+2+11.9%

101+33+47.6%

Revenues (mm yen)

Revenues (mm yen)

Notes:
1. The above data is as provided by the hotel operators or as calculated by Ichigo Real Estate
Investment Advisors based on information provided by the hotel operators. The data has not been
audited and thus its accuracy cannot be guaranteed and may not match data disclosed in future
Financial Reports.
2.

RevPAR or Revenue Per Available Room is calculated as follows:
RevPAR = Total revenues from accommodations (excluding restaurant charges and other service
fees)/number of available guest rooms.

3.

Occupancy is calculated as follows:
Occupancy = Total number of guest rooms occupied during the period/(number of guest rooms x
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.

4.

ADR or Average Daily Rate is calculated as follows:
ADR = Total revenues from accommodations (excluding restaurant charges and other service fees)/
number of guest rooms occupied.
25.

Revenues are total revenues from accommodations and related services only. Rent from retailtenants at Hotel Vista Premio Kyoto and Chisun Inn Osaka Hommachi is not included.

6.

Past data for Hotel Wing International Nagoya and Comfort Hotel Hamamatsu and data for Hotel
Suave Kobe Asuta are not included above, as the hotel operators have not given consent to disclosethe data.

7.

Since the rent for Comfort Hotel Hamamatsu is fixed, operating results have no impact on the rent.

Value-Add Actions
At Nest Hotel Sapporo Odori, Ichigo Hotel REIT conducted renovations to convert storage
rooms into guest rooms this month, creating two additional guest rooms. The renovation thus
converts non-revenue-generating spaces into revenue-generating spaces. The two new rooms are
twin-bed rooms that can also be flexibly used as triple-bed rooms in response to guest needs.
Ichigo Hotel REIT will continue to work closely with its hotel operator partners to carry out
strategic value-add capex to improve earnings.

New Guest Rooms

3