Notice on Portfolio Performance (November 2025)

Overview of Monthly Sales Performance

The domestic hotel portfolio (based on 91 properties) in November 2025 showed steady growth compared to the same month last year, with occupancy at 85.6% (+0.5pt), ADR at JPY 15,609 (+8.6%), and RevPAR at JPY 13,362 (+9.3%). Sales reached JPY 9.082 billion, an 8.7% increase year-on-year. The two overseas Cayman properties saw a decrease in occupancy to 54.6% (-5.1pt), but ADR rose to USD 482 (+14.2%), resulting in a RevPAR of USD 263 (+4.4%).

Segment and Product Trends

Domestic hotels performed particularly well in the Tokyo 23 wards, with RevPAR up 15.6% year-over-year, driven by robust inbound demand. Non-room revenue also increased by 7.3%, supporting overall sales. The two Cayman properties experienced a sales suspension due to large-scale renovations at The Sunshine Hotel & Suites, but ADR rose significantly as the impact of last year’s major hurricane diminished, leading to an increase in RevPAR.

Store Deployment and Future Outlook

The domestic hotel portfolio comprises 91 properties, with December’s RevPAR expected to rise approximately 7.4% year-over-year. Renovations at the two Cayman properties are mostly complete, and December is projected to see occupancy at 63.3%, ADR at USD 911, and RevPAR at USD 577 due to increased demand during the Christmas holidays. Strong operations are expected to continue, supported by robust demand both domestically and internationally.