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.

June 27, 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 – May 2016
Ichigo Hotel REIT hereby announces its May 2016 RevPAR, Occupancy, ADR, and Revenues:
Total RevPAR, Occupancy, and ADR of Ichigo Hotel REIT Portfolio Assets
May
2016
(A)

May
2015
(B)

Difference(A-B)

Current Fiscal Period
Feb 2016－May 2016
YOY
YOY
Cumulative
Difference
ChangeYOY
Change

RevPAR (yen)

7,384

7,400

-16-0.2%

7,688

+501

+7.0%

Occupancy (%)

88.5

91.6-3.1-3.3%

91.7-1.2-1.3%

ADR (yen)

8,341

8,080

+261+3.2%

8,385+650+8.4%

RevPAR, Occupancy, ADR, and Revenues for Individual Assets

Smile Hotel
Kyoto Shijo

May
2016
(A)

May
2015
(B)

RevPAR (yen)11,849

Occupancy (%)
ADR (yen)

YOY
Change11,810+39+0.3%

12,872+668

+5.5%

100.1

100.1

-0.0-0.0%

100.1+0.0+0.0%

11,838

11,793+45+0.4%

12,854+665+5.5%

5354-1-1.7%

224+10+4.8%

RevPAR (yen)12,786

12,228+558+4.6%

13,283+1,153+9.5%

Occupancy (%)

93.4

93.3+0.1+0.1%

92.6-0.4-0.4%

13,696

13,109+587+4.5%

14,352+1,299+9.9%

3634+2+5.6%

144+14+10.8%

Revenues (mm yen)

Hotel Vista
Premio Kyoto

Current Fiscal Period
Feb 2016－May 2016
YOY
YOY
Cumulative
Difference Change

Difference(A-B)

ADR (yen)
Revenues (mm yen)

1

May2016(A)
Hotel Wing
InternationalNagoya

Current Fiscal Period
Feb 2016－May 2016
YOY
YOY
Cumulative
Difference Change
5,811

Occupancy (%)

90.2

96.5

ADR (yen)

6,116

6,02242176

RevPAR (yen)7,445

6,643+802+12.1%

7,024+972+16.1%

Occupancy (%)

98.6

98.3+0.3+0.3%

98.4+0.7+0.7%

ADR (yen)

7,552

6,758+794+11.8%

7,141+942+15.2%

48

44+3+7.7%

183+17+9.9%

RevPAR (yen)

7,568

6,853+715+10.4%

8,941+2,258+33.8%

Occupancy (%)

80.4

85.7-5.3

-6.2%

88.8

+0.1+0.1%

ADR (yen)

9,416

7,996+1,420+17.8%

10,065+2,534+33.6%

30

28+3+10.5%

141+36+34.9%

Revenues (mm yen)

Comfort Hotel
Hamamatsu

YOYChange

5,519

Revenues (mm yen)

Chisun Inn
Osaka
HommachiDifference(A-B)

RevPAR (yen)

Revenues (mm yen)
Nest Hotel
SapporoEkimae

May
2015
(B)

RevPAR (yen)

4,990

5,157

Occupancy (%)

77.4

82.4

ADR (yen)

6,444

6,262

30122

Revenues (mm yen)
RevPAR (yen)8,460

8,072+388+4.8%8,000+717+9.8%

Occupancy (%)

97.7

97.6+0.1+0.1%

95.0-1.1-1.2%

ADR (yen)

8,656

8,270+385+4.7%

8,419+844+11.1%

3534+1+4.1%

130+12+9.8%

RevPAR (yen)7,554

8,199-646-7.9%

8,319＋1,617+24.1%

Valie HotelOccupancy (%)

71.1

94.6

-23.5

-24.8%

84.4

-6.4

-7.0%

TenjinADR (yen)

10,6198,663+1,956+22.6%

9,853+2,471+33.5%

20

13+7+54.5%

84+31+58.1%

Nest Hotel
Sapporo Odori

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 servicefees) / 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 is
occupied 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 Chisun Inn Osaka Hommachi, Ichigo Hotel REIT added ramps to the stairs leading to thefront entrance this month to ease guest access to the hotel.
Ichigo Hotel REIT will continue to work closely with its hotel operator partners to carry out
strategic value-add capex to increase operating efficiency and improve guest satisfaction.

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