Investor Presentaiton

Variable Rent Hotel Details G-3 Nest Hotel Kumamoto Location Kumamoto 2-minute walk from Nishikarashimacho Access Station on Kumamoto City Tram Line Nest Hotel Japan Operator Corporation Guest Rooms 201 Acquisition JPY 2.22B Price BEEEEE Operating Results (Feb 2020 - Jan 2021) 100% ADR (right) RevPAR Occupancy (right) (left) (JPY) 7,500 80% 6,000 60% 4,500 40% 3,000 HOOCHOTEL nestнOTEL 20% 1,500 0% 0 Feb 2020 May 2020 Aug 2020 Nov 2020 一期一会| ICHIGO O Ichigo Investment Advisors Co., Ltd. Ichigo Hotel REIT Investment Corporation All rights reserved. 47

View entire presentation