Notice Regarding Operating Status of Variable-Rent Properties (Hotels) (September 2026)

Overview of Operating Results

This disclosure presents the operating results for the variable-rent properties held by the investment corporation for September 2026. On an overall basis, occupancy rates remained at high levels, and ADR, RevPAR, and revenue all showed improvement or stable trends compared with the same period last year. Notably, demand related to the Asian Games supported improved key metrics at the Nagoya Sakae property, and sustained inbound demand was observed near Hakata Station. Meanwhile, Osaka Tennoji continued to be affected by a decline in Chinese tourists, but overall performance is assessed as solid.

Outlook and Disclosure Policy

The operating status of variable-rent properties will continue to be disclosed on an ongoing basis. While demand trends improved at some properties in September, there are differences in demand trends between properties, so it will be necessary to monitor individual property performance in future quarters. Depending on hotel market trends, gaps between cumulative indicators and individual property indicators may narrow, and details are expected to be updated in future disclosures.