#hotelREIT

The planned issuance of 38,709 new investment units by third-party allotment totaling 2,964,490,056 yen was cancelled due to no subscription from the allottee.

Japan Hotel REIT Investment Corporation has entered into interest rate swap agreements on Term Loan 131 (JPY 4,100 million, fixed interest rate 2.25175%) and Term Loan 132 (JPY 10,900 million, fixed interest rate 2.43875%), raising the fixed interest ratio of interest-bearing debt to approximately 78%.

Total sales for 29 hotels adopting variable rent, etc., in February 2026 amounted to JPY 6,099 million, representing a 6.3% increase year-over-year. RevPAR was JPY 16,567, up 6.1% year-over-year.

Japan Hotel REIT Investment Corporation partially repaid and redeemed borrowings of 12,054 million yen due on March 31, 2026, and newly borrowed term loans of 4,100 million yen and 10,900 million yen, effectively executing refinancing.

Operating revenue for the fiscal year ending December 2025 was 45,564 million yen, a 36.1% increase year-over-year, with net income attributable to owners of parent at 27,145 million yen, up 48.6%. The dividend per unit forecast for the fiscal year ending December 2026 is 5,177 yen.

Japan Hotel REIT Investment Corporation has entered into an interest rate swap agreement with a fixed payment interest rate of 2.03250% on Term Loan 129 (JPY 10,000 million), effective from March 13, 2026, to March 29, 2030, raising the fixed interest ratio of interest-bearing debt to approximately 75%.

Issued 807,000 new investment units at an offering price of 79,086 yen per unit, raising approximately 63.8 billion yen. The proceeds will be partially used for acquisition funds of the 'Hyatt Regency Tokyo.'

Issuance of 848,991 new investment units at an issuance price of 79,086 yen per unit, totaling approximately 67.143 billion yen. Secondary offering of 38,709 units at the same price of 79,086 yen per unit. Payment date scheduled for March 9, 2026.

Japan Hotel REIT Investment Corporation plans to execute new borrowings totaling 65,000 million yen on March 13, 2026, as part of the funding for the acquisition of the Hyatt Regency Tokyo.

Total sales for the 29 hotels adopting variable rent, etc. for January 2026 amounted to 5,868 million yen, up 1.4% year-over-year. Room occupancy rate was 79.7% (up 1.9 points YoY), ADR was 17,800 yen (down 2.3% YoY), and RevPAR was 14,185 yen (up 0.1% YoY).

For the fiscal year ending December 2025, operating revenue was 45,564 million yen (up 36.1% YoY), operating income was 31,052 million yen (up 49.4% YoY), net income attributable to owners of parent was 27,145 million yen (up 48.6% YoY), and distributions increased to 5,061 yen per unit. Scheduled acquisition of Hyatt Regency Tokyo for 126,000 million yen in March 2026.

The full-year operating revenue for the fiscal year ending December 2026 has been revised upward to 50,979 million yen, a 13.7% increase from the previous forecast; operating income to 34,255 million yen, a 16.3% increase; and net income to 27,911 million yen, a 15.3% increase. The main drivers are new investment unit issuance and acquisition of the Hyatt Regency Tokyo.