Hoshino Resorts REIT, Inc.
Notice on Portfolio Operating Performance (September 2026)
For September 2026, portfolio-wide room occupancy decreased by -2.6pt YoY, ADR increased by +1.9%, and RevPAR declined by -1.3%. Excluding four Expo-related properties in the Osaka area, properties operated by Hoshino Resorts showed recovery in both occupancy and rates, suggesting an overall pickup in reservations.
Key Figures
- Revenue: 6,047 million yen (monthly)
- Room Occupancy: 79.5% (YoY -2.6pt)
- ADR: 21,566 yen (YoY +1.9%)
AI要約
Overview and Trends of the Entire Portfolio
In September 2026, overall operating performance showed room occupancy down -2.6pt YoY, ADR up +1.9%, and RevPAR slightly weak at -1.3%. However, Hoshino Resorts-operated properties excluding four Expo-related properties in the Osaka area performed solidly with occupancy +1.4pt, ADR +10.0%, and RevPAR +11.8%. From October onward, the impact of the Expo is expected to ease and reservations are seen recovering. CAPEX investments have produced notable ADR improvements at properties such as KAI Matsumoto, which is evaluated as supporting the ongoing recovery trend.
Outlook and Impact for Investors
The rebound effect from the Expo is expected to substantially moderate, and recovery in reservations should lead to signs of recovery across the Osaka market. Continued ADR improvements from renovations at Hoshino Resorts-operated properties are likely to contribute to sustained profitability, supporting overall occupancy stability and revenue durability. Flexible operation of properties, including capturing demand from events such as the Asian Games, has also contributed to short-term improvements in revenue and occupancy, which is important.
Hoshino Resorts REIT, Inc.
Company overview · Stock price · Financial data · All IR
