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 26, 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

Partial Amendment to the Release“Ichigo Hotel REIT Operating Results – June 2016”
Ichigo Hotel REIT Investment Corporation has amended the below data for individual assets, asunderlined, from the July 25, 2016 release “Ichigo Hotel REIT Operating Results – June 2016.”
The summary data for the full portfolio in the July 25 release was accurate and does not require
an amendment.

Total RevPAR, Occupancy, and ADR of Ichigo Hotel REIT Portfolio AssetsJune2016(A)June2015(B)

Difference
(A-B)

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

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 (Amendments to YOY Difference andYOY Change)

Omitted

RevPAR (yen)Smile Hotel
Kyoto Shijo

Occupancy (%)(Before Amendment）(After Amendment）

Current Fiscal Period
Feb 2016－June 2016
YOYYOY
Cumulative
Difference Change

Current Fiscal Period
Feb 2016－June 2016
YOYYOY
Cumulative
Difference Change

12,063

-141

-1.2%

12,063

+957

+8.6%

100.1

－－

100.1

－

－

12,048

-141

-1.2%

12,048

+955

+8.6%

263

+49+22.8%

263+19+7.8%

OmittedADR (yen)
Revenues (mm yen)

1Omitted

Hotel Vista
Premio Kyoto

12,531

+401

+3.3%

12,531+1,301+11.6%

Occupancy (%)

91.7

-1.2

-1.3%

91.7+0.4+0.4%

13,661+608+4.7%

13,661+1,366+11.1%

170+40+30.6%

170+19+12.8%

ADR (yen)

RevPAR (yen)

5,486

5,486

Occupancy (%)

92.6

92.6

ADR (yen)

5,928

5,928

208

208

Revenues (mm yen)
Nest Hotel
SapporoEkimae

RevPAR (yen)7,628+1,575+26.0%

7,628+1,007+15.2%

Occupancy (%)

98.3+0.7+0.7%

98.3+0.6+0.6%

ADR (yen)

7,756+1,558+25.1%

7,756+982+14.5%

242+75+45.2%

242+21+9.3%

8,712+2,028+30.3%

8,712+2,046+30.7%

88.7-0.0-0.0%

88.7+0.6+0.7%

9,818+2,287+30.4%

9,818+2,255+29.8%

171+67+64.0%

171+41+31.6%

Revenues (mm yen)
RevPAR (yen)Chisun Inn
Osaka
HommachiOccupancy (%)
OmittedADR (yen)
Revenues (mm yen)

Comfort Hotel
Hamamatsu

RevPAR (yen)

5,074

5,074

Occupancy (%)

81.9

81.9

ADR (yen)

6,199

6,199

150

150

Revenues (mm yen)

Nest Hotel
Sapporo Odori

RevPAR (yen)8,576+1,294+17.8%

8,576+570+7.1%

Occupancy (%)

95.0-1.1-1.1%

95.0-1.3-1.3%

ADR (yen)

9,023+1,448+19.1%

9,023+712+8.6%

172+54+45.3%

172+11+7.0%

RevPAR (yen)8,036+1,335+19.9%

8,036+1,347+20.1%

Occupancy (%)

83.3-7.5-8.2%

83.3-8.2-9.0%

ADR (yen)

9,647+2,266+30.7%

9,647+2,337+32.0%

101+48+91.0%

101+33+47.6%

Revenues (mm yen)

Valie Hotel
TenjinCurrent Fiscal Period
Feb 2016－June 2016
YOYYOY
Cumulative
Difference Change

RevPAR (yen)

Revenues (mm yen)

Hotel Wing
InternationalNagoya

Current Fiscal Period
Feb 2016－June 2016
YOYYOY
Cumulative
Difference Change

Revenues (mm yen)

(Note) An amended version of the release “Ichigo Hotel REIT Operating Results – June 2016”has been uploaded on Ichigo Hotel REIT’s website.

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