Investor Presentaiton
Details of Hotel Property Lease Contracts
Property name
Hotel grade
No. of guestrooms
(Note 1)
Developer
Hotel operation format
Hotel operator
Contract period
[Termination during
the contracted period]
[Revision of rent]
Tenant
[Subtenant]
Rent type
Calculation base for
varliable rent
Shangri-La Tokyo
Luxury
Hilton Odawara
Resort & Spa
Upper Upscale
Hotel Okura Kobe
Upper Upscale
468
200
Mori Trust
Leased
163
Shangri-La Hotels Japan
MC (Note 2)
Hilton Worldwide Manage
Leased
Hotel Okura Kobe
From Sep. 2, 2019
From Apr. 1, 2022
to Mar. 31, 2032
From Sep. 1, 2016
to Nov. 30, 2033
Not allowed
Possible by consultation
every 5 years
Mori Trust
(Master Lessee)
Shangri-La Hotels Japan.
Variable (monthly)
With minimum annual
guaranteed rent
Total revenue
Rent
to Dec. 31, 2049
Not allowed
for the first 5 years
Possible by consultation
every 5 years
MT & Hilton Hotel
Rent varies each fiscal period
(The monthly amount is fixed
during a fiscal period.)
Profit
Rent
Rent
Not allowed
None
Hotel Okura Kobe
Fixed (Note)
Courtyard by Marriott
Tokyo Station
Upscale
150
Mori Trust
FC (Note 3)
MORI TRUST HOTELS &
RESORTS CO., LTD.
From Sep.16, 2016
to Apr. 1, 2039
Not allowed
for the first 10 years
Possible by consultation
every 5 years
Mori Trust
(Master Lessee)
MORI TRUST HOTELS &
RESORTS CO., LTD.
Variable (monthly)
With minimum annual
guaranteed rent
Profit
Rent
Courtyard by Marriott
Shin-Osaka Station
Upscale
332
Mori Trust
FC (Note 3)
MORI TRUST HOTELS &
RESORTS CO., LTD.
From Sep. 16, 2016
to Nov. 1, 2040
Not allowed
for the first 10 years
Possible by consultation
every 5 years
Mori Trust
(Master Lessee)
MORI TRUST HOTELS &
RESORTS CO., LTD.
Variable (monthly)
With minimum annual
guaranteed rent
Profit
Rent
Hotel Sunroute Plaza
Shinjuku
Upper midscale
624
Mori Trust
Leased
Sotetsu Hotel Management
From Aug. 20, 2007
to Aug. 31, 2027
Not allowed
None
Sotetsu Hotel Management
Rent
Fixed
Lease agreements
Rent scheme
Variable
rent
Minimum annual
variable
rent
guaranteed rent
882,700,000 yen (Note)
Total revenue
(Note) If the total rent for the
period from April each year to
March next year falls short of the
minimum annual guaranteed rent,
the difference shall be paid by the
end of February next year,
together with the rent for March
next year.
Profit
Fixed annual rent
1,098,453,780 yen
(Note)
(Note) Along with fixed annual rent,
the total amount of property tax
and city planning tax equivalent
amount and casualty insurance
equivalent amount is paid as
variable rent.
variable
rent
Minimum annual guaranteed rent
289,850,000 yen (Note)
Profit
(Note) If the total rent for the period from
October each year to September next
year falls short of the minimum annual
guaranteed rent, the difference shall be
paid by the end of February next year,
together with the rent for September next
year.
Minimum annual guaranteed rent shows
the figures equivalent to 93.5% quasi-co-
ownership interest in the trust beneficiary
interest owned by MTR.
variable
rent
Minimum annual guaranteed rent
460,000,000 yen (Note)
Profit
(Note) If the total rent for the
period from October each year to
September next year falls short of
the minimum annual guaranteed
rent, the difference shall be paid by
the end of February next year,
together with the rent for
September next year.
Fixed annual rent
1,304,673,360 yen
(Note 1) The number of guestrooms for Shangri-La Tokyo indicates guestrooms available for sale, while for other properties, it indicates the total number of guestrooms at each hotel
(in some cases, this includes the share of other co-owners or quasi-co-owners).
(Note2) This signifies a management contract, indicating a format whereby hotel operation is outsourced by Mori Trust Group to a brand operator.
(Note3) This signifies a franchise, indicating a format whereby Mori Trust Group operates a hotel by itself by being lent brand usage rights from a given brand.
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