Investor Presentaiton
-20%
-30%
Summary of Four Hotels with Variable Rents
Steady recovery in each hotel, with the total actual rent performance of Four Hotels with Variable Rents reaching 89% of
the level of the same period in 2019
Shangri-La
Although monthly volatility is high, rents calculated based on hotel revenue
continue to recover, exceeding 2019 levels in some months
•
Monthly volatility has been decreasing in recent months
Rents vs. 2019 (Percent Change)
30%
Period reflected in rents for the
20%
FP ended Aug. 2023
10%
0%
-10%
Hilton Odawara
• In the accommodation sector, the recovery trend in domestic leisure demand
due to the reclassification of COVID-19 as Class 5 was leveraged and sales at
high unit prices continued, centering on holidays, to raise revenues.
• Improved consumer sentiments have led to an increase in the number of day
trip guests opting for lunch and dessert buffets, swimming pools, and natural
hot springs, contributing to the hotel's performance.
Total Sales vs. 2019 (Percent Change)
20%
0%
Period reflected in rents for the
FP ended Aug. 2023
Nov-22
Dec-22
Jan-23
Feb-23
Mar-23
Apr-23
May-23
Jun-23
Jul-23
Aug-23
-20%
-40%
Jan-22
Feb-22
Mar-22
Apr-22
May-22
Jun-22
Jul-22
Aug-22
Sep-22
Oct-22
Nov-22
•
.
Courtyard Tokyo
The accommodation sector continues to pursue a high-unit-price strategy,
targeting overseas business travelers, by attracting customers mainly through
Marriott.com. Going forward, the challenge will be to achieve both ADR and
Occupancy rates.
(Reference) Share of foreign
guests in the total number of guests
Apr-23 May
Jun.
Jul.
73.4% 64.2% 65.5% 70.6%
Aug.
68.2%
In the food and beverage sector, sales of BBQ plans utilizing terrace seating
and free-flow plans led to a steady recovery, with average customer spend
reaching a level exceeding that of 2019.
•
Courtyard Shin-Osaka
Regarding ADR, while continuing the high unit-price strategy focusing on
individual customers, proactive efforts to attract group customers supported
the occupancy rate.
Inbound travel is increasing for not only leisure but also business use by
foreign-affiliated companies. Although the majority of visitors are from the
U.S., use from mainland China (mainly individual visitors) has been on the
rise recently and is now second in volume only to the U.S.
(Reference) Share of foreign
guests in the total number of guests
Apr-23 May
67.2%
Jun.
52.5% 61.3%
Jul.
Aug.
54.3% 43.2%
Hotel Indicators vs. 2019
30%
Period reflected in rents for
(Percent Change)
the EP ended Aug. 2023
20%
ADR for the same month
10%
of 2019 (%)
RevPAR for the same
0%
month of 2019 (%)
OCC for the same
month of 2019 (%pt)
-10%
-20%
OCC (43rd FP)
76.2 %
-30%
ADR (43rd FP)
30,938 yen
RevPAR (43rd FP)
23,581 yen
Dec-22
Jan-23
Feb-23
Mar-23
Apr-23
May-23
Jun-23
Jul-23
Aug-23
Dec-22
Jan-23
Feb-23
Mar-23
Apr-23
May-23
Jun-23
Jul-23
Hotel Indicators vs. 2019
(Percent Change)
20%
ADR for the same month
of 2019 (%)
10%
0%
RevPAR for the same
month of 2019 (%)
-10%
OCC for the same
month of 2019 (%pt)
OCC (43rd FP)
-20%
Period reflected in rents for
the FP ended Aug. 2023
81.0 %
-30%
ADR (43rd FP)
20,359 yen
RevPAR (43rd FP)
16,486 yen
Dec-22
Jan-23
Feb-23
Mar-23
Apr-23
May-23
Jun-23
Jul-23
Aug-23
5
Aug-23View entire presentation