This English translation is provided for information purposes only. If any discrepancy is identified between
this translation and the Japanese original, the Japanese original shall prevail.
November 25, 2022
REIT Issuer:
Japan Hotel REIT Investment Corporation (TSE code: 8985)
Kaname Masuda, Executive Director
Asset Management Company:
Japan Hotel REIT Advisors Co., Ltd.
Hisashi Furukawa, President & CEO
Contact:
Makoto Hanamura
Director of the Board, Managing Director,
Head of Finance and Planning Division
TEL: +81-3-6422-0530
Announcement of Monthly Disclosure for October 2022
With respect to the business performance of the hotels owned by Japan Hotel REIT Investment Corporation(hereinafter called “JHR”) for October 2022, JHR informs you of the monthly sales, occupancy rates, ADR, and
RevPAR of rooms department of the 25 Hotels with Variable Rent, etc. (Note 1) as below. For each hotel’s trackrecord of hotel operations, please check JHR’s website (Note 2).
JHR continues to announce monthly disclosure of hotels from which JHR receives variable rent or income frommanagement contracts and whose lessees, etc. have agreed with the monthly disclosure.
【Reference】

Hotel / Indicators

Total of the 25 Hotels
with Variable Rent, etc.

The 16 HMJ Hotels

October

Change inFluctuation of
Change inFluctuation
fluctuation
the cumulative fluctuation of thecompared with
Cumulative totalcompared withtotal compared cumularive total
the same month(Note 10)
the same monthwith 2021 (Note compared withof 2021 (Note 9)of 202111)
2021

Change influctuationcompared withsame month of2019 (Note 12)

Change influctuation of the
cumulative totalcompared with2019 (Note 12)

Occupancy rate

74.7%

25.4%

51.7%

61.9%

27.1%

78.1%

(14.4%)(28.3%)

ADR

（JPY）

14,020

4,184

42.5%

12,631968

8.3%(13.3%)(23.2%)

RevPAR（JPY）

10,4675,626

116.2%

7,820

3,765

92.8%

(25.8%)(44.9%)

Sales（JPY 1M）

4,057

1,883

86.6%

29,381

11,042

60.2%(23.3%)(42.3%)

Occupancy rate

74.4%

26.2%

54.3%

61.0%

28.6%

88.1%

(16.0%)(30.0%)

ADR

（JPY）

15,979

4,886

44.0%

14,392677

4.9%(11.7%)(20.9%)

RevPAR（JPY）

11,895

6,544

122.3%

8,773

4,329

97.4%

(25.8%)(44.6%)

Sales（JPY 1M）3,631

1,682

86.3%

26,065

9,663

58.9%

(22.9%)(41.5%)*As the impact of COVID-19 has been significant since February 2020, the change in fluctuation compared with 2019 is alsostated.

<Special Items>
With regard to the hotels owned by JHR, RevPAR of the total of the 25 Hotels with Variable Rent, etc. for October
2022 recovered to 74.2% of the RevPAR in the same month of 2019 due to an increase in inbound travelers causedby the significant easing of entry restrictions in addition to a significant increase in domestic leisure demand by thestart of nationwide travel support.
RevPAR for October 2022 is expected to recover to the mid 80% range compared to the RevPAR in the same monthof 2019 due to further increase in domestic and international leisure demand. In addition, Hotel Oriental Express
Osaka Shinsaibashi, which has been temporarily closed since April 2020, is scheduled to resume operation onDecember 8, 2022, as inbound demand recovers.
Under such circumstances where the market has begun a full-fledged recovery, each hotel is striving to further
stimulate and capture domestic and international leisure demand by implementing strategic measures to capture
sales, such as developing attractive products to capture strong domestic leisure demand, creating products targeting
inbound demand and other measures, while continuing to thoroughly implement environmental sanitation and costmanagement.

1

* the b ikebukuro (since July 14, 2020), Holiday Inn Osaka Namba (since August 17, 2021) and one other hotel(Note 14) have been accepting COVID-19 patients with mild or no symptoms.

------------------------------------------------------------------------------------------------------------------------------------(Note 1)(Note 2)
(Note 3)(Note 4)(Note 5)(Note 6)(Note 7)(Note 8)(Note 9)(Note 10)(Note 11)
(Note 12)(Note 13)
(Note 14)The 25 Hotels with Variable Rent, etc. refers to 25 hotels, which are The 16 HMJ Hotels plus ibis Styles Kyoto
Station, ibis Styles Sapporo, Mercure Sapporo, Mercure Okinawa Naha, Mercure Yokosuka, the b ikebukuro, theb hachioji, the b hakata and the b suidobashi. The 16 HMJ Hotels refers to 16- hotels, which are Kobe Meriken
Park Oriental Hotel, Oriental Hotel tokyo bay, Namba Oriental Hotel, Hotel Nikko Alivila, Oriental Hotel
Hiroshima, Oriental Hotel Okinawa Resort & Spa (former Okinawa Marriott Resort & Spa), ACTIVE-INTER
CITY HIROSHIMA (Sheraton Grand Hiroshima Hotel), Oriental Hotel Fukuoka Hakata Station, Holiday Inn
Osaka Namba, Hilton Tokyo Narita Airport, International Garden Hotel Narita, Hotel Nikko Nara, Hotel Oriental
Express Osaka Shinsaibashi, Hilton Tokyo Odaiba, Hotel Oriental Express Fukuoka Tenjin and Oriental Hotel
Universal City. Ibis Tokyo Shinjuku (transferred in December 2021) was excluded from 24 Hotels with Variable
Rent, etc. which was subject to our disclosure in FY2021 and Hotel Oriental Express Fukuoka Tenjin and Oriental
Hotel Universal City were added to our disclosure in FY2022.
Please check JHR’s website below for each hotel’s track record of hotel operations.
https://www.jhrth.co.jp/en/portfolio/review.html
The numbers and comments above have been prepared based on information the asset management company had
obtained from the lessees, etc. and are only provided as a reference of general trends.
Numbers for each month and numbers and information shown in the comments have not been audited nor been
the subject of the independent verification of the asset management company. Therefore, no guarantee is madeas to the accuracy or completeness of the numbers and information. Also, the sales for each month and sum totalof each month may be different from total sales for the six-month or full year stated in the annual securities report,etc. to be submitted later.
Occupancy rate: The number of rooms sold during the period is divided by the number of rooms available during
the same period.
ADR (Average Daily Rate): Total rooms revenue for a certain period (excluding service charges) is divided by
the total number of rooms sold during the period.
RevPAR (Revenue Per Available Room): Total rooms revenue for a certain period (excluding service charges) is
divided by the total number of available rooms during the period.
Occupancy rate is rounded off to the first decimal place. ADR and RevPAR are rounded off to the nearest wholenumber. Sales are rounded off to the nearest million yen.
Fluctuation compared with the same month of 2021 means the fluctuation between the month subject todisclosure in this notice and the same month of 2021.
Cumulative total is the cumulative total from the beginning of the fiscal year (January) to the month subject todisclosure in this notice.
Fluctuation of cumulative total compared with 2021 means the fluctuation between the cumulative total from thebeginning of the fiscal year (January) to the month subject to disclosure in this notice and the cumulative total
from the beginning of 2021 (January) to the same month in 2021.
The change in fluctuation compared with 2019 means the fluctuation between the month subject to disclosure inthis notice and the same month in 2019. The change in fluctuation of the cumulative total compared with 2019means the fluctuation between the cumulative total from the beginning of the fiscal year (January) to the monthsubject to disclosure in this notice and the same period of 2019.
Sales are only from hotels and exclude rent from non-hotel tenants.
The hotel name is not disclosed because the approval of the related person has not been obtained.

* Website of Japan Hotel REIT Investment Corporation: https://www.jhrth.co.jp/en/2