[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 25, 2024 Issuer Ichigo Hotel REIT Investment Corporation (“Ichigo Hotel,” 3463) 2-6-1 Marunouchi, Chiyoda-ku, Tokyo Representative: Eriko Ishii, Executive Director www.ichigo-hotel.co.jp/en Asset Management Company Ichigo Investment Advisors Co., Ltd. Representative: Hiroshi Iwai, President Inquiries: Hidehito Iwasaka, Head of Ichigo Hotel Tel: +81-3-4485-5232
Ichigo Hotel Operating Results – June 2024
Portfolio Revenue, RevPAR, Occupancy, and ADR Total (28 Hotels)
Variable Rent Hotels (21 Hotels)
Revenue, RevPAR, Occupancy, and ADR by Hotel
Notes: 1. The above data are as provided by the hotel operators or as calculated by Ichigo Investment Advisors based on information provided by the hotel operators. The data have not been audited and thus their accuracy cannot be guaranteed and may not match data disclosed in future releases. 2. Revenue is revenue from accommodations and related services only. Rent from retail tenants at The OneFive Osaka Sakaisuji, Hotel Wing International Kobe Shin Nagata Ekimae, Smile Hotel Tokyo Asagaya, Nest Hotel Kumamoto, Hotel Sunshine Utsunomiya, Comfort Hotel Osaka Shinsaibashi (Ichigo Shinsaibashi Building), HOTEL THE KNOT YOKOHAMA, and THE KNOT SAPPORO are not included. 3. RevPAR (Revenue Per Available Room) is calculated with the following formula: RevPAR = Total Revenue from accommodations (excluding restaurant charges and other service fees) / number of available guest rooms 4. Occupancy is calculated with the following formula: Occupancy = Total number of guest rooms occupied during the period / (total number of guest rooms * number of days 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. 5. ADR (Average Daily Rate) is calculated with the following formula: ADR = Total revenue from accommodations (excluding restaurant charges and other service fees) / number of guest rooms occupied during the period 6. The Capsule Plus Yokohama and the Washington Hotel Plaza Shimonoseki Eki Nishi are excluded from the above data because the hotel operators did not give consent to disclose hotel-specific data that would allow for year-on-year comparisons. Data for the Hotel Livemax Nihombashi-Hakozaki are included in the total and fixed rent hotels data above, but not separately disclosed because the hotel operator did not provide consent to disclose hotel-specific data. 7. Pre-acquisition data for acquired hotels are based on data received from the previous owners.
Explanation of Changes
The number of inbound tourists reached a new monthly record of 3.13 million people in June 2024 according to the Japan National Tourism Organization (JNTO). Revenue, RevPAR, Occupancy, and ADR for Ichigo Hotel's hotels increased year-on-year as a result of steady business demand and ADR growth in Tokyo, Yokohama, and Sapporo offsetting decreased domestic demand due to the end of a domestic travel subsidy program. Providing Ichigo-Style Omotenashi , Japanese Tradition of Hospitality and Service, and Driving Earnings: Quintessa Hotel Ise Shima and Quintessa Hotel Ogaki In the spirit of "quest," which the "Q" of the Quintessa brand hotels stands for, the Quintessa group 's head chef, who holds the highest French culinary honor, aims to create a satisfying, high-quality breakfast buffet featuring local ingredients and dishes at the Quintessa Hotel Ise Shima and Quintessa Hotel Ogaki. Ichigo Hotel will aim to operate hotels that are beloved by local communities in the Ogaki and Ise areas, and continue to work closely with hotel operators to increase guest satisfaction and drive higher earnings. Quintessa Hotel Ise Shima website: https://quintessahotels.com/iseshima/en/ Quintessa Hotel Ogaki website: https://quintessahotels.com/ogaki/en/