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.
June 25, 2020
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
Executive Director,
Head of Planning Group, Operations Division
TEL: +81-3-6422-0530
Announcement of Monthly Disclosure for May 2020
With respect to the business performance of the hotels owned by Japan Hotel REIT Investment Corporation(hereinafter called “JHR”) for May 2020, JHR informs you of the monthly sales, occupancy rates, ADR, and RevPARof rooms department of the 20 Hotels with Variable Rent, etc.(Note 1) as below. For each hotel’s track record 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.

Hotel / Indicators

Occupancy rate
The 10 HMJ Hotels

Change influctuationcomparedwith
the samemonthlast year

Cumulative
total(Note 10)(78.8)%(90.3)%

38.5%

9,386(5,704)(37.8)%

12,706(1,917)

794(12,371)(94.0)%

4,890(7,658)(61.0)%

236(3,677)(94.0)%

7,541(10,621)(58.5)%May

Occupancy rate
Total of the 20 Hotels
ADR
(JPY)
with Variable Rent,
RevPAR(JPY)
etc.
Sales (JPY 1M)

Fluctuation
Change inof thefluctuation of
cumulative
thetotal
cumulative
compared
totalwithcomparedlast yearwith(Note 11)
last year(47.3)%(55.2)%

Fluctuationcomparedwiththe samemonth
last year(Note 9)8.5%

(13.1)%

5.3%(83.6)%(94.0)%

38.2%(48.4)%(55.8)%ADR(JPY)

14,410(2,663)(15.6)%

14,394(2,033)(12.4)%

RevPAR(JPY)

769(14,423)(94.9)%

5,504(8,722)(61.3)%

Sales(JPY 1M)

157(3,039)(95.1)%

6,091(8,556)(58.4)%<Special Items>
Due to the impact of the coronavirus (COVID-19) pandemic, the number of inbound visitors to Japan for May 2020
declined by 99.9% from the same month last year, which was the lowest monthly figure on record since the statistics
began in 1964 for the second consecutive month.
With regard to the hotels owned by JHR, RevPAR of the total of the 20 Hotels with Variable Rent, etc. for May
declined by 94.0% from the same month last year, as a result of self-restraint in organizing various events
throughout Japan, and the suspension of the operations of large-scale theme parks, etc. in response to the state of
emergency announced by the government, in addition to the decrease in the number of inbound visitors to Japandue to the travel restriction to Japan from foreign countries.
In June, although the state of emergency announced by the government was lifted, the hotels owned by JHR havecontinued to be substantially affected due to the self-restraint in inter-prefectural travel based on “Indication of1

graded relaxation of self-restraint in going out” by the government. Therefore, as of today, we consider there is apossibility that RevPAR of the total of the 20 Hotels with Variable Rent, etc. for June will decline by around 90%
from the same month last year.
Under these circumstances, the hotels among the 20 Hotels with Variable Rent, etc. below are temporarily closed.
<Information of temporary closure of the hotels owned by JHR>
Oriental Hotel tokyo bay: April 20, 2020 till for the time being
ibis Styles Kyoto Station: May 1, 2020 to June 30, 2020 (scheduled)
ibis Styles Sapporo: May 6, 2020 to June 30, 2020 (scheduled)
Mercure Okinawa Naha
: May 1, 2020 to June 30, 2020 (scheduled)
the b ikebukuro: April 26, 2020 to June 24, 2020
Holiday Inn Osaka Namba: April 20, 2020 till for the time beingInternational Garden Hotel Narita: May 1, 2020 to till for the time being*Closing period may be changed. Please refer to the official website of each hotel for the detail of closure.
*the b hachioji has been accepting COVID-19 patients with mild or no symptoms since May 1, 2020.
------------------------------------------------------------------------------------------------------------------------------------(Note 1)(Note 2)
(Note 3)(Note 4)(Note 5)(Note 6)(Note 7)(Note 8)(Note 9)(Note 10)(Note 11)
(Note 12)The 20 Hotels with Variable Rent, etc. are The 10 HMJ Hotels plus ibis Tokyo Shinjuku, 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 Ten HMJ Hotels are Kobe Meriken Park Oriental Hotel,
Oriental Hotel tokyo bay, Hotel Nikko Alivila, Oriental Hotel Hiroshima, Okinawa Marriott Resort & Spa,
ACTIVE-INTER CITY HIROSHIMA (Sheraton Grand Hiroshima Hotel), Holiday Inn Osaka Namba, Hilton
Tokyo Narita Airport, International Garden Hotel Narita and Hotel Nikko Nara (With regard to Oriental HotelFukuoka Hakata Station (formerly Hotel Centraza Hakata), large-scale renovation works accompanied bysuspension of entire hotel operation was carried out from October 1, 2018 to April 8, 2019. Namba Oriental Hotel
had initially been scheduled to implement large-scale renovation works accompanied by suspension of entire
hotel operation starting within this year (at present, the timing of the renovation will be decided later). Therefore,
numbers for these hotels are not included in HMJ Group Hotels.)
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. It is the same as multiplying ADR by occupancyrate.
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 last year means the fluctuation between the concerned month (May)and the same month last year.
Cumulative total is the cumulative total from the beginning of the period (January) to the concerned month (May).
Fluctuation of cumulative total compared with last year means the fluctuation between the cumulative total fromthe beginning of the period (January) to the concerned month (May) and the cumulative total from the beginningof the period last year (January) to the same concerned month (May) last year.
Sales are only from hotels and exclude rent from non-hotel tenants.

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