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.
January 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 December 2021
With respect to the business performance of the hotels owned by Japan Hotel REIT Investment Corporation(hereinafter called “JHR”) for December 2021, JHR informs you of the monthly sales, occupancy rates, ADR, and
RevPAR of rooms department of the 24 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
from management contracts and whose lessees, etc. have agreed with the monthly disclosure.
【Reference】

Hotel / Indicators

DecemberOccupancy rate
Total of the 24 Hotels with ADR
Variable Rent, etc.
RevPARSales

The 14 HMJ Hotels

Fluctuation of
Change inFluctuation
Change inthe cumulative
fluctuation of thecompared withfluctuation
Cumulative total
total
cumulative total
the same month compared with(Note 10)compared withcompared withlast year
the same month
last year
last year(Note 9)last year(Note 11)

Change influctuationcompared withthe same month
two years ago(Note 12)

Change influctuation of the
cumulative totalcompared with
two years ago(Note 12)

62.7%

17.4%

38.4%

40.2%

2.8%

7.5%

(26.0)%(53.3)%(JPY)

12,716(628)(4.7)%

11,757(1,600)(12.0)%(19.0)%(28.7)%

(JPY)

7,978

1,930

31.9%

4,724(270)(5.4)%(40.1)%(66.7)%(JPY 1M)

2,987

617

26.0%

23,786(309)(1.3)%(41.6)%(60.2)%(55.6)%

Occupancy rate

63.6%

17.9%

39.0%

38.5%

2.7%

7.5%

(25.0)%ADR(JPY)

14,735(1,446)(8.9)%

14,068(2,012)(12.5)%(17.9)%(24.5)%

RevPAR(JPY)9,372

1,970

26.6%

5,413(343)(6.0)%(38.4)%(66.5)%

Sales(JPY 1M)

2,689

539

25.1%

21,078(67)(0.3)%(39.2)%(58.8)%*As the impact of COVID-19 has been significant since February 2020, the change in fluctuation compared with
two years ago (2019) is also stated.
<Special Items>
With regard to the hotels owned by JHR, RevPAR of the total of the 24 Hotels with Variable Rent, etc. forDecember 2021 decreased 40.1% compared to the same month of 2019 due to the continued recovery of leisuredemand because of the stabilization of low number of infections. This was the largest decrease in a single month
during January through December 2021. .
In January 2022, due to restraining leisure demand and cancellations of group travel and school trip, etc. causedby the rapid increase of the number of infections from the start of this year and implementation of stricter
measures to prevent the spread of the virus in certain areas, we forecast a decrease in the middle of 50% range
from the same month of 2019 .
Under such circumstances, each hotel continues to strive giving consideration to health of guests and employees
and working to manage hygiene environment and conducting operations while thoroughly implementing costmanagement. Moreover, each hotel is working actively to create and capture leisure demand by highly
competitive products and creation of original charm in anticipation of the recovery phase, in addition to1

developing value-added products and price-conscious products that meet the current market conditions.
*As of today, the following hotel of the 24 Hotels with Variable Rent, etc. is temporarily closed.
Hotel Oriental Express Osaka Shinsaibashi : April 20, 2020 till for the time being* 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 24 Hotels with Variable Rent, etc. refers to 24 hotels, which are The 14 HMJ Hotels plus ibis Tokyo
Shinjuku, ibis Styles Kyoto Station, ibis Styles Sapporo, Mercure Sapporo, Mercure Okinawa Naha, MercureYokosuka, the b ikebukuro, the b hachioji, the b hakata and the b suidobashi. The 14 HMJ Hotels refers to 14hotels, which are Kobe Meriken Park Oriental Hotel, Oriental Hotel tokyo bay, Namba Oriental Hotel, Hotel
Nikko Alivila, Oriental Hotel Hiroshima, Okinawa Marriott Resort & Spa, ACTIVE-INTER CITYHIROSHIMA (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 and Hilton Tokyo Odaiba. Ibis Tokyo Shinjuku is not in the number count ofDecember 2021, due to closing on November 30 2021 and transfer on December 15 2021
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 beenthe 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
total of 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
whole number. Sales are rounded off to the nearest million yen.
Fluctuation compared with the same month last year means the fluctuation between the concerned month(December) and the same month last year.
Cumulative total is the cumulative total from the beginning of the period (January) to the concerned month(December).
Fluctuation of cumulative total compared with last year means the fluctuation between the cumulative total
from the beginning of the period (January) to the concerned month (December) and the cumulative total fromthe beginning of the period last year (January) to the same concerned month (December) last year.
The change in fluctuation compared with two years ago means the fluctuation between the concerned month(December) and the same month two years ago (2019. The same shall apply hereinafter.). The change influctuation of the cumulative total compared with two years ago means the fluctuation between the cumulative
total from the beginning of the period (January) to the concerned month (December) this year and the same
period two years ago.
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