Hotel Performance
Data Download
Domestic Hotels Total
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
# of Properties (Note2)
actual
-
92 (101)
92 (101)
92 (101)
92 (101)
92 (101)
92 (101)
92 (101)
Occupancy Rate
actual
(%)
80.0
84.9
85.2
84.8
84.9
83.1
83.8
ADR
actual
(JPY)
11,982
13,357
13,710
15,094
14,552
12,953
13,626
RevPAR
actual
(JPY)
9,581
11,335
11,675
12,803
12,357
10,761
11,416
Gross Revenue
actual
(JPY mn)
7,007
7,155
8,315
8,526
8,620
7,603
47,228
Overseas Hotels Total
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
# of Properties (Note2)
actual
-
2
2
2
2
2
2
2
Occupancy Rate
actual
(%)
71.3
75.8
66.1
57.4
48.1
52.6
61.7
ADR
actual
(USD)
709
734
817
760
495
447
675
RevPAR
actual
(USD)
505
556
540
436
238
235
417
Gross Revenue
actual
(USD'000)
12,642
11,868
13,324
10,618
6,650
6,191
61,296
ADR and RevPAR are rounded to the nearest yen and Gross Revenue is rounded down to the indicated unit. Percentages are rounded to one decimal place.This applies hereinafter.
# of properties shows the number of the hotels that are subject to the calculation for each month, and does not include the number of hotels under fixed rent contract. The number in the parenthesis shows the total number of hotels held by INV as of the end of the subject month, including the hotels under fixed rent contract. Please see the footnote of the individual hotels listed below to identify the hotels under fixed rent contract.
Sheraton Grande Tokyo Bay Hotel, the underlying asset of the preferred equity interest acquired on October 13, 2017 is excluded from the performance calculation.
“Gross Revenue” for 2018 shows the total revenue of the hotel, while “Gross Revenue” prior to 2018 showed the gross operating income of the hotel. Year-on-year change in 2018 shows the total revenue in 2018 vs. the total revenue in 2017. There is no significant difference between total revenue and gross operating income for the limited service hotels that account for the vast majority of INV's hotel portfolio.
For below figures of each hotel, comparison for year-on-year is not made if the days of operation are less than one month. Year-on-year comparison for the six month cumulative figures is not provided if the property was not held as at the beginning of the fiscal period. Year-on-year comparison with the pre-acquisition period of each hotel is based on actual results provided by sellers.
Figures for year-on-year comparison are not shown in the case that the figures cannot be calculated due to the closure, etc. during the previous year.
Individual Hotels
Open all
Close all
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
90.2
92.7
91.6
93.4
91.8
89.0
91.5
year-on-year
(points)
11.6
6.7
2.6
3.1
2.7
0.3
4.5
ADR
actual
(JPY)
11,760
13,007
14,284
17,246
14,663
10,922
13,681
year-on-year
(%)
29.4
17.4
3.4
29.7
20.1
-3.4
15.3
RevPAR
actual
(JPY)
10,613
12,063
13,088
16,105
13,465
9,723
12,512
year-on-year
(%)
48.6
26.6
6.5
34.2
23.6
-3.0
21.3
Gross Revenue
actual
(JPY mn)
41
42
51
61
53
37
288
year-on-year
(%)
47.1
22.1
7.1
33.9
23.3
-2.4
20.6
(Note 1) This property was acquired on May 23, 2014.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
85.4
88.6
88.4
93.5
92.9
92.8
90.3
year-on-year
(points)
7.9
2.3
-4.3
0.5
3.8
3.1
2.2
ADR
actual
(JPY)
8,916
10,259
12,825
13,982
11,806
9,358
11,230
year-on-year
(%)
30.5
33.5
45.1
64.8
37.4
11.2
37.2
RevPAR
actual
(JPY)
7,614
9,089
11,341
13,079
10,966
8,687
10,138
year-on-year
(%)
43.9
37.1
38.3
65.7
43.1
15.0
40.7
Gross Revenue
actual
(JPY mn)
38
41
57
63
55
43
300
year-on-year
(%)
42.6
31.0
37.7
62.5
42.1
15.2
38.8
(Note 1) This property was acquired on May 23, 2014.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
62.7
79.4
85.5
89.8
89.1
78.7
80.9
year-on-year
(points)
20.4
6.5
8.3
18.1
3.5
6.7
10.6
ADR
actual
(JPY)
9,768
8,435
15,698
20,061
14,730
10,256
13,550
year-on-year
(%)
14.4
-3.6
-6.0
9.9
18.0
0.7
5.6
RevPAR
actual
(JPY)
6,125
6,695
13,419
18,010
13,131
8,074
10,955
year-on-year
(%)
69.7
5.0
4.1
37.7
22.8
10.1
21.5
Gross Revenue
actual
(JPY mn)
47
47
101
129
98
61
486
year-on-year
(%)
66.0
1.5
4.2
33.4
18.2
8.9
18.7
(Note 1) This property was acquired on July 17, 2014.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
92.9
94.7
93.5
96.5
95.6
92.0
94.2
year-on-year
(points)
2.7
3.9
0.8
3.5
3.8
1.4
2.7
ADR
actual
(JPY)
13,024
16,249
18,177
15,609
14,007
12,506
14,927
year-on-year
(%)
16.1
7.9
8.2
37.2
5.8
8.4
13.0
RevPAR
actual
(JPY)
12,095
15,380
16,991
15,065
13,390
11,510
14,059
year-on-year
(%)
19.5
12.5
9.1
42.4
10.2
10.1
16.3
Gross Revenue
actual
(JPY mn)
79
85
104
100
88
75
532
year-on-year
(%)
21.8
10.1
8.2
30.4
12.8
13.0
15.6
(Note 1) This property was acquired on July 17, 2014.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
96.9
96.7
96.1
96.7
93.4
94.3
95.7
year-on-year
(points)
1.4
-0.4
-1.0
-0.3
-2.6
-3.3
-1.0
ADR
actual
(JPY)
25,782
27,323
31,952
29,492
25,877
22,828
27,239
year-on-year
(%)
30.8
11.8
5.5
33.8
10.9
5.7
15.5
RevPAR
actual
(JPY)
24,978
26,434
30,692
28,531
24,161
21,526
26,059
year-on-year
(%)
32.7
11.3
4.5
33.3
8.0
2.1
14.2
Gross Revenue
actual
(JPY mn)
75
70
91
82
72
62
454
year-on-year
(%)
29.0
6.7
4.0
30.8
7.8
2.9
12.7
(Note 1) This property was acquired on July 17, 2014.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
85.3
93.4
91.6
94.3
95.6
93.7
92.3
year-on-year
(points)
22.1
18.6
8.9
12.3
11.0
7.8
13.4
ADR
actual
(JPY)
13,202
13,911
15,114
19,130
19,546
16,249
16,280
year-on-year
(%)
15.1
1.5
-1.1
30.3
40.9
32.3
19.5
RevPAR
actual
(JPY)
11,266
12,998
13,848
18,049
18,678
15,231
15,027
year-on-year
(%)
55.4
26.8
9.5
49.9
59.2
44.4
39.8
Gross Revenue
actual
(JPY mn)
59
60
70
86
91
75
443
year-on-year
(%)
41.9
16.4
7.2
38.0
45.7
32.8
29.8
(Note 1) This property was acquired on July 17, 2014.
(Note 2) The name of this property was changed from "Hotel MyStays Dojima" as of March 10, 2018.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
85.2
87.9
91.4
92.2
89.4
82.6
88.1
year-on-year
(points)
-0.7
0.3
1.0
6.6
1.5
5.0
2.3
ADR
actual
(JPY)
7,309
8,334
8,289
10,125
8,952
7,652
8,468
year-on-year
(%)
14.2
11.2
5.4
13.9
22.5
4.4
12.2
RevPAR
actual
(JPY)
6,227
7,327
7,578
9,331
8,002
6,320
7,462
year-on-year
(%)
13.3
11.6
6.6
22.7
24.6
11.2
15.2
Gross Revenue
actual
(JPY mn)
57
60
71
83
73
56
402
year-on-year
(%)
11.5
5.3
4.4
22.1
22.1
9.7
12.7
(Note 1) This property was acquired on July 17, 2014.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
81.4
88.6
90.7
97.1
93.3
94.2
90.9
year-on-year
(points)
24.1
19.0
7.1
11.3
15.9
20.5
16.3
ADR
actual
(JPY)
7,880
8,096
8,590
10,443
11,771
9,835
9,508
year-on-year
(%)
29.4
4.1
-0.6
26.2
44.9
52.0
24.1
RevPAR
actual
(JPY)
6,417
7,177
7,792
10,139
10,986
9,262
8,641
year-on-year
(%)
83.9
32.5
7.8
42.9
74.6
94.2
51.2
Gross Revenue
actual
(JPY mn)
40
40
48
59
68
55
312
year-on-year
(%)
75.0
28.3
7.6
42.3
72.8
90.6
48.8
(Note 1) This property was acquired on July 17, 2014.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
86.8
93.6
96.1
93.0
88.8
84.8
90.5
year-on-year
(points)
3.9
6.8
2.5
3.4
-1.4
-4.6
1.7
ADR
actual
(JPY)
8,471
9,774
11,607
13,537
12,240
11,215
11,172
year-on-year
(%)
14.3
3.9
-3.2
17.8
13.7
19.3
10.2
RevPAR
actual
(JPY)
7,354
9,150
11,155
12,584
10,864
9,508
10,108
year-on-year
(%)
19.7
12.0
-0.6
22.2
11.9
13.2
12.4
Gross Revenue
actual
(JPY mn)
48
53
71
77
70
59
381
year-on-year
(%)
17.3
5.1
-2.7
18.7
11.2
11.5
9.5
(Note 1) This property was acquired on July 17, 2014.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
58.1
57.6
91.1
94.7
95.1
93.3
81.9
year-on-year
(points)
-21.3
-28.7
3.5
6.4
5.0
3.4
-5.0
ADR
actual
(JPY)
9,887
11,733
14,408
17,849
14,126
11,586
13,638
year-on-year
(%)
32.8
24.4
23.3
78.4
53.6
33.3
44.5
RevPAR
actual
(JPY)
5,748
6,754
13,118
16,902
13,436
10,806
11,170
year-on-year
(%)
-2.8
-17.0
28.2
91.3
62.2
38.4
36.2
Gross Revenue
actual
(JPY mn)
16
18
38
48
39
30
191
year-on-year
(%)
-3.7
-18.7
27.3
86.6
61.4
39.0
34.8
(Note 1) This property was acquired on July 17, 2014.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
90.5
90.1
66.0
67.6
70.7
58.6
73.8
year-on-year
(points)
6.0
0.0
-28.0
-20.7
-18.2
-24.5
-14.4
ADR
actual
(JPY)
9,957
14,589
12,720
12,094
13,759
11,931
12,465
year-on-year
(%)
14.5
32.3
17.2
30.6
36.8
21.3
25.0
RevPAR
actual
(JPY)
9,012
13,150
8,396
8,176
9,735
6,988
9,196
year-on-year
(%)
22.7
32.3
-17.7
0.0
8.8
-14.5
4.6
Gross Revenue
actual
(JPY mn)
53
68
49
45
57
38
313
year-on-year
(%)
26.8
28.8
-16.7
-0.8
8.8
-14.7
4.8
(Note 1) This property was acquired on July 17, 2014.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
87.6
93.6
95.4
95.3
95.5
92.5
93.3
year-on-year
(points)
2.2
3.3
2.9
3.9
11.3
41.8
10.9
ADR
actual
(JPY)
19,350
20,823
23,058
29,677
20,372
18,077
21,947
year-on-year
(%)
90.9
60.0
51.6
98.8
66.0
66.0
69.7
RevPAR
actual
(JPY)
16,945
19,489
22,008
28,281
19,454
16,712
20,476
year-on-year
(%)
95.9
65.9
56.3
107.2
88.2
203.1
92.0
Gross Revenue
actual
(JPY mn)
37
38
47
58
42
35
259
year-on-year
(%)
112.5
77.6
73.5
129.0
107.2
223.2
110.1
(Note 1) This property was acquired on July 17, 2014.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
93.1
93.1
92.9
94.4
90.3
93.1
92.8
year-on-year
(points)
5.8
1.7
-0.4
3.1
4.4
1.0
2.6
ADR
actual
(JPY)
9,286
11,412
12,897
12,833
12,472
9,438
11,390
year-on-year
(%)
29.6
24.5
14.2
24.8
17.8
7.2
19.0
RevPAR
actual
(JPY)
8,641
10,626
11,978
12,114
11,259
8,787
10,568
year-on-year
(%)
38.3
26.8
13.8
29.0
23.8
8.4
22.5
Gross Revenue
actual
(JPY mn)
19
21
27
26
25
19
138
year-on-year
(%)
37.5
22.4
14.5
28.3
23.8
8.9
21.9
(Note 1) This property was acquired on July 17, 2014.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
85.7
92.0
90.0
94.1
93.8
88.7
90.7
year-on-year
(points)
3.3
0.6
-2.6
1.9
7.9
-3.2
1.3
ADR
actual
(JPY)
10,046
11,387
12,872
15,042
11,981
10,591
12,027
year-on-year
(%)
18.2
12.7
10.5
18.2
12.0
6.5
13.0
RevPAR
actual
(JPY)
8,608
10,478
11,588
14,158
11,243
9,391
10,909
year-on-year
(%)
23.0
13.4
7.3
20.6
22.3
2.8
14.7
Gross Revenue
actual
(JPY mn)
14
16
19
23
19
15
109
year-on-year
(%)
21.8
9.5
7.8
21.2
22.3
3.2
14.2
(Note 1) This property was acquired on July 17, 2014.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
80.7
83.2
71.6
77.3
73.2
59.1
74.1
year-on-year
(points)
1.1
-7.6
-20.0
-11.5
-12.4
-30.2
-13.5
ADR
actual
(JPY)
5,764
6,033
7,496
8,154
7,125
6,754
6,872
year-on-year
(%)
11.1
17.9
36.7
41.8
29.6
24.9
27.0
RevPAR
actual
(JPY)
4,653
5,019
5,369
6,300
5,213
3,993
5,092
year-on-year
(%)
12.7
8.0
6.9
23.4
10.8
-17.4
7.5
Gross Revenue
actual
(JPY mn)
18
18
21
24
21
15
120
year-on-year
(%)
11.7
4.4
7.2
22.6
10.4
-17.1
6.6
(Note 1) This property was acquired on July 17, 2014.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
81.3
83.2
83.4
88.8
84.7
81.9
83.9
year-on-year
(points)
7.4
6.5
1.4
3.1
1.4
2.7
3.7
ADR
actual
(JPY)
5,513
5,761
5,994
6,437
6,239
6,049
6,007
year-on-year
(%)
6.1
5.8
6.8
11.0
11.5
5.4
7.8
RevPAR
actual
(JPY)
4,480
4,794
5,001
5,717
5,283
4,953
5,039
year-on-year
(%)
16.7
14.8
8.6
15.0
13.4
8.9
12.8
Gross Revenue
actual
(JPY mn)
14
14
16
18
17
15
97
year-on-year
(%)
16.3
10.7
8.4
14.7
13.2
8.5
11.9
(Note 1) This property was acquired on July 17, 2014.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
73.0
79.5
89.0
94.2
88.2
88.1
85.4
year-on-year
(points)
9.8
9.6
4.5
6.6
5.1
9.4
7.5
ADR
actual
(JPY)
10,666
10,833
11,521
13,300
14,759
12,203
12,311
year-on-year
(%)
18.9
-0.6
0.1
56.7
63.5
51.5
29.8
RevPAR
actual
(JPY)
7,792
8,617
10,257
12,522
13,019
10,753
10,512
year-on-year
(%)
37.3
13.0
5.5
68.6
73.5
69.6
42.3
Gross Revenue
actual
(JPY mn)
27
27
36
42
45
36
214
year-on-year
(%)
36.6
9.0
6.0
66.7
72.1
67.9
40.8
(Note 1) This property was acquired on July 17, 2014.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
74.4
74.9
85.5
84.8
85.3
77.1
80.4
year-on-year
(points)
5.0
-7.4
-0.7
5.7
5.9
3.4
2.1
ADR
actual
(JPY)
16,843
17,324
17,817
21,358
17,668
14,678
17,685
year-on-year
(%)
27.2
21.8
4.6
15.8
11.7
-2.8
12.5
RevPAR
actual
(JPY)
12,525
12,971
15,226
18,111
15,069
11,313
14,217
year-on-year
(%)
36.4
10.8
3.7
24.2
20.0
1.7
15.5
Gross Revenue
actual
(JPY mn)
23
21
28
32
27
20
153
year-on-year
(%)
37.0
4.6
3.6
23.5
18.9
1.9
14.2
(Note 1) This property was acquired on July 17, 2014.
(Note 2) The name of this property was changed from "Flexstay Inn Kiyosumi Shirakawa" as of September 9, 2019.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
72.5
80.1
78.4
82.4
83.9
83.9
80.2
year-on-year
(points)
9.3
-1.6
-6.8
-13.0
1.7
0.9
-1.5
ADR
actual
(JPY)
6,541
7,453
7,872
9,190
6,949
6,681
7,453
year-on-year
(%)
11.0
21.5
19.3
41.6
7.5
6.4
17.7
RevPAR
actual
(JPY)
4,745
5,972
6,172
7,572
5,828
5,607
5,976
year-on-year
(%)
27.3
19.1
9.8
22.3
9.6
7.6
15.5
Gross Revenue
actual
(JPY mn)
5
6
7
8
7
6
42
year-on-year
(%)
24.8
14.9
10.1
21.8
11.0
8.3
14.8
(Note 1) This property was acquired on July 17, 2014.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
72.4
80.0
81.8
84.1
77.9
77.3
78.9
year-on-year
(points)
4.4
-4.0
-7.9
-11.8
4.5
1.4
-2.2
ADR
actual
(JPY)
6,207
6,922
8,090
9,872
7,413
6,873
7,613
year-on-year
(%)
13.2
12.4
23.4
45.7
20.8
15.0
22.3
RevPAR
actual
(JPY)
4,496
5,540
6,619
8,301
5,772
5,311
6,005
year-on-year
(%)
20.5
7.1
12.5
27.8
28.3
17.0
19.0
Gross Revenue
actual
(JPY mn)
3
3
4
5
3
3
24
year-on-year
(%)
21.3
4.6
13.0
28.4
28.6
17.0
18.9
(Note 1) This property was acquired on July 17, 2014.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
98.2
100.0
99.8
99.9
99.0
99.2
99.4
year-on-year
(points)
22.5
26.6
22.0
15.1
5.2
1.9
15.5
ADR
actual
(JPY)
7,176
8,660
10,424
11,852
10,012
9,630
9,636
year-on-year
(%)
9.6
5.1
12.5
16.1
10.7
17.7
11.9
RevPAR
actual
(JPY)
7,049
8,660
10,408
11,845
9,912
9,553
9,574
year-on-year
(%)
42.1
43.2
44.3
36.7
16.9
20.0
32.6
Gross Revenue
actual
(JPY mn)
101
112
149
163
142
132
801
year-on-year
(%)
43.8
39.3
45.3
36.0
16.7
18.7
31.9
(Note 1) This property was acquired on February 6, 2015.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
73.1
74.4
77.7
78.0
74.9
80.2
76.4
year-on-year
(points)
22.4
11.4
16.4
3.5
2.1
-1.2
9.2
ADR
actual
(JPY)
6,795
6,642
6,442
9,545
9,825
9,146
8,093
year-on-year
(%)
9.0
8.5
6.6
6.1
7.0
1.7
3.9
RevPAR
actual
(JPY)
4,970
4,941
5,007
7,445
7,355
7,336
6,183
year-on-year
(%)
57.1
28.2
35.1
11.1
10.0
0.3
18.1
Gross Revenue
actual
(JPY mn)
37
34
39
53
54
53
272
year-on-year
(%)
46.5
18.6
29.7
9.8
8.8
0.8
15.2
(Note 1) This property was acquired on February 6, 2015.
(Note 2) The name of this property was changed from "Hotel Nets Hakodate" as of May 1, 2018.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
70.1
73.4
80.5
82.7
85.3
80.2
78.7
year-on-year
(points)
-0.5
-6.6
1.9
-2.8
6.6
2.8
0.3
ADR
actual
(JPY)
7,881
8,493
8,473
8,341
8,293
7,906
8,234
year-on-year
(%)
20.5
18.8
7.9
6.6
11.2
1.1
10.4
RevPAR
actual
(JPY)
5,523
6,236
6,824
6,895
7,070
6,338
6,483
year-on-year
(%)
19.7
9.1
10.5
3.0
20.5
4.8
10.9
Gross Revenue
actual
(JPY mn)
14
15
18
17
18
16
100
year-on-year
(%)
19.5
7.3
11.0
3.3
20.1
5.0
10.6
(Note 1) This property was acquired on February 6, 2015.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
90.9
97.4
96.1
96.3
96.5
95.6
95.4
year-on-year
(points)
-1.9
2.2
1.3
1.6
2.9
0.0
1.0
ADR
actual
(JPY)
13,048
13,677
14,658
17,283
14,116
12,275
14,190
year-on-year
(%)
18.7
11.8
6.1
25.4
7.9
-2.9
11.2
RevPAR
actual
(JPY)
11,861
13,323
14,079
16,647
13,619
11,737
13,541
year-on-year
(%)
16.3
14.3
7.6
27.5
11.2
-2.9
12.4
Gross Revenue
actual
(JPY mn)
70
70
83
95
79
67
466
year-on-year
(%)
13.8
9.2
8.0
28.2
9.8
-3.6
11.0
(Note 1) This property was acquired on July 16, 2015.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
90.4
94.0
93.6
96.1
92.9
93.5
93.4
year-on-year
(points)
11.7
11.2
3.8
3.2
3.7
10.4
7.3
ADR
actual
(JPY)
7,327
7,863
8,807
9,434
8,483
7,442
8,240
year-on-year
(%)
18.2
6.3
5.0
9.7
7.7
-2.1
6.7
RevPAR
actual
(JPY)
6,625
7,394
8,242
9,062
7,879
6,960
7,695
year-on-year
(%)
35.7
20.7
9.4
13.4
12.1
10.1
15.8
Gross Revenue
actual
(JPY mn)
56
57
70
74
67
57
383
year-on-year
(%)
32.9
16.3
9.6
13.6
11.7
10.0
14.8
(Note 1) This property was acquired on July 16, 2015.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
89.5
93.2
89.3
94.9
92.6
94.2
92.2
year-on-year
(points)
2.4
0.9
-3.7
2.9
3.7
0.8
1.2
ADR
actual
(JPY)
12,911
14,287
16,792
19,242
14,942
12,427
15,116
year-on-year
(%)
22.1
11.2
12.9
22.2
11.2
4.0
14.0
RevPAR
actual
(JPY)
11,559
13,319
14,994
18,256
13,829
11,709
13,943
year-on-year
(%)
25.5
12.3
8.5
26.0
15.8
4.9
15.5
Gross Revenue
actual
(JPY mn)
35
36
45
53
41
34
247
year-on-year
(%)
25.3
7.9
8.7
24.8
15.3
5.8
14.6
(Note 1) This property was acquired on July 16, 2015.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
86.4
92.4
91.9
95.6
95.2
92.7
92.3
year-on-year
(points)
12.5
10.6
3.4
2.4
6.6
5.5
6.8
ADR
actual
(JPY)
7,617
8,271
9,783
9,939
8,024
7,260
8,498
year-on-year
(%)
18.6
9.2
10.8
16.5
0.4
-7.4
7.4
RevPAR
actual
(JPY)
6,581
7,640
8,991
9,498
7,641
6,729
7,847
year-on-year
(%)
38.8
23.4
15.0
19.6
7.8
-1.5
15.9
Gross Revenue
actual
(JPY mn)
36
38
50
51
42
36
256
year-on-year
(%)
37.8
18.7
15.1
20.0
6.9
-1.0
15.1
(Note 1) This property was acquired on July 16, 2015.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
80.3
91.9
91.0
90.4
88.0
79.1
86.7
year-on-year
(points)
2.9
4.9
8.5
6.0
0.7
-2.3
3.4
ADR
actual
(JPY)
7,120
7,444
8,126
8,398
8,901
6,929
7,855
year-on-year
(%)
6.5
2.3
-4.1
15.5
17.3
0.8
6.5
RevPAR
actual
(JPY)
5,719
6,842
7,396
7,593
7,835
5,484
6,814
year-on-year
(%)
10.5
8.0
5.7
23.7
18.2
-2.0
10.9
Gross Revenue
actual
(JPY mn)
29
31
38
38
40
27
205
year-on-year
(%)
7.8
2.8
6.5
22.7
18.8
-2.0
9.7
(Note 1) This property was acquired on July 16, 2015.
(Note 2) The name of this property was changed from "Hotel Vista Shimizu" as of April 1, 2019.
(Note 1) This property was acquired on July 16, 2015.
(Note 2) Their leases have only fixed rent. Not disclosed, as operator's consent has not been obtained for disclosure regarding Occupancy, ADR, RevPAR and Gross Revenue.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
80.4
87.7
89.1
89.4
88.2
76.1
85.1
year-on-year
(points)
-1.3
3.3
2.6
4.4
4.2
-4.4
1.4
ADR
actual
(JPY)
5,401
5,361
6,095
7,513
5,846
5,305
5,951
year-on-year
(%)
18.6
10.3
5.5
5.2
10.2
4.3
8.9
RevPAR
actual
(JPY)
4,342
4,704
5,432
6,714
5,156
4,035
5,066
year-on-year
(%)
16.7
14.7
8.6
10.7
15.6
-1.4
10.8
Gross Revenue
actual
(JPY mn)
12
11
15
18
14
10
82
year-on-year
(%)
15.9
10.8
8.6
11.0
16.1
-2.2
10.1
(Note 1) This property was acquired on July 16, 2015.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
77.5
85.7
89.2
88.9
87.0
82.0
85.0
year-on-year
(points)
-7.9
1.6
0.2
2.0
-0.4
-0.2
-0.8
ADR
actual
(JPY)
8,910
9,417
10,168
9,785
10,600
9,647
9,780
year-on-year
(%)
18.6
14.5
19.4
3.4
8.0
14.7
12.8
RevPAR
actual
(JPY)
6,903
8,071
9,071
8,697
9,226
7,909
8,317
year-on-year
(%)
7.6
16.7
19.7
5.7
7.5
14.4
11.8
Gross Revenue
actual
(JPY mn)
55
53
64
55
59
53
342
year-on-year
(%)
15.0
7.7
7.9
-10.2
-9.4
3.3
1.5
(Note 1) This property was acquired on July 16, 2015.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
80.4
85.5
78.2
87.9
86.2
81.5
83.2
year-on-year
(points)
3.4
1.6
-5.4
1.3
4.8
-0.2
0.9
ADR
actual
(JPY)
5,595
6,698
6,847
7,131
6,715
6,852
6,643
year-on-year
(%)
10.5
18.2
18.1
14.0
2.7
12.9
12.4
RevPAR
actual
(JPY)
4,498
5,730
5,353
6,265
5,791
5,582
5,529
year-on-year
(%)
15.4
20.4
10.5
15.7
8.7
12.7
13.7
Gross Revenue
actual
(JPY mn)
9
10
10
12
11
10
65
year-on-year
(%)
14.4
17.1
10.3
15.6
7.9
12.2
12.8
(Note 1) This property was acquired on July 16, 2015.
(Note 1) This property was acquired on July 16, 2015.
(Note 2) Their leases have only fixed rent. Not disclosed, as operator's consent has not been obtained for disclosure regarding Occupancy, ADR, RevPAR and Gross Revenue.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
83.0
88.8
88.8
91.6
91.3
87.6
88.5
year-on-year
(points)
0.8
-0.6
1.0
0.8
2.0
-1.3
0.5
ADR
actual
(JPY)
5,093
5,965
6,328
6,457
6,003
5,809
5,953
year-on-year
(%)
12.8
14.6
7.2
10.0
8.8
11.4
10.6
RevPAR
actual
(JPY)
4,226
5,299
5,620
5,915
5,482
5,091
5,269
year-on-year
(%)
13.9
13.8
8.4
11.0
11.3
9.7
11.2
Gross Revenue
actual
(JPY mn)
8
9
10
11
10
9
59
year-on-year
(%)
12.9
6.2
8.1
10.3
10.9
10.1
9.6
(Note 1) This property was acquired on July 16, 2015.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
76.7
81.0
81.1
88.8
91.2
80.1
83.2
year-on-year
(points)
-1.9
-7.9
-6.1
-2.0
0.9
-4.9
-3.6
ADR
actual
(JPY)
6,739
7,148
7,169
6,908
6,345
6,702
6,822
year-on-year
(%)
17.1
19.9
19.5
11.4
6.3
10.6
13.8
RevPAR
actual
(JPY)
5,172
5,789
5,813
6,136
5,787
5,370
5,675
year-on-year
(%)
14.3
9.2
11.2
9.0
7.3
4.2
9.1
Gross Revenue
actual
(JPY mn)
34
34
38
39
38
34
218
year-on-year
(%)
14.3
5.4
10.5
9.2
7.1
4.1
8.4
(Note 1) This property was acquired on August 28, 2015.
(Note 1) This property was acquired on August 28, 2015.
(Note 2) Their leases have only fixed rent. Not disclosed, as operator's consent has not been obtained for disclosure regarding Occupancy, ADR, RevPAR and Gross Revenue.
(Note 1) This property was acquired on August 28, 2015.
(Note 2) Their leases have only fixed rent. Not disclosed, as operator's consent has not been obtained for disclosure regarding Occupancy, ADR, RevPAR and Gross Revenue.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
88.5
93.1
92.4
95.7
95.4
94.6
93.2
year-on-year
(points)
19.9
19.7
2.2
7.3
5.4
2.3
9.4
ADR
actual
(JPY)
13,688
13,551
13,910
19,694
19,556
15,774
16,105
year-on-year
(%)
16.3
-3.0
-5.4
26.0
38.5
33.3
17.3
RevPAR
actual
(JPY)
12,110
12,610
12,855
18,843
18,656
14,917
15,017
year-on-year
(%)
50.0
23.2
-3.1
36.4
46.8
36.6
30.5
Gross Revenue
actual
(JPY mn)
21
20
22
31
31
24
153
year-on-year
(%)
47.0
17.5
-3.3
35.7
41.4
32.2
27.4
(Note 1) This property was acquired on January 22, 2016.
(Note 1) This property was acquired on January 22, 2016.
(Note 2) Their leases have only fixed rent. Not disclosed, as operator's consent has not been obtained for disclosure regarding Occupancy, ADR, RevPAR and Gross Revenue.
(Note 1) This property was acquired on January 22, 2016.
(Note 2) Their leases have only fixed rent. Not disclosed, as operator's consent has not been obtained for disclosure regarding Occupancy, ADR, RevPAR and Gross Revenue.
(Note 1) This property was acquired on January 22, 2016.
(Note 2) Their leases have only fixed rent. Not disclosed, as operator's consent has not been obtained for disclosure regarding Occupancy, ADR, RevPAR and Gross Revenue.
(Note 1) This property was acquired on January 22, 2016.
(Note 2) Their leases have only fixed rent. Not disclosed, as operator's consent has not been obtained for disclosure regarding Occupancy, ADR, RevPAR and Gross Revenue.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
90.3
92.4
92.4
94.8
93.6
93.4
92.8
year-on-year
(points)
0.9
-1.1
-1.7
3.3
3.5
1.2
1.0
ADR
actual
(JPY)
13,502
15,144
16,522
19,198
15,776
13,936
15,700
year-on-year
(%)
16.9
11.3
-1.0
12.2
8.4
2.2
8.0
RevPAR
actual
(JPY)
12,190
13,990
15,267
18,200
14,765
13,017
14,570
year-on-year
(%)
18.1
10.0
-2.8
16.2
12.7
3.5
9.2
Gross Revenue
actual
(JPY mn)
159
165
200
227
191
165
1,110
year-on-year
(%)
15.1
5.4
-2.2
15.4
10.7
3.1
7.6
(Note 1) INV acquired the entire portion of the Main Building and a portion of the Annex Building on March 31, 2016, and additionally acquired additional floors of the Annex Building after conversion from office space on October 31, 2017
(Note 2) The number of rooms in this property has increased due to conversion from a locker room in Main Building (1 room) as well asconversion from an office space in Annex Building (49 rooms) on October 16, 2017
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
62.3
77.7
95.0
84.6
86.0
84.7
81.8
year-on-year
(points)
-2.0
1.0
-3.3
-0.8
1.7
3.0
-0.1
ADR
actual
(JPY)
28,662
20,775
25,551
24,699
30,059
23,805
25,621
year-on-year
(%)
4.6
-4.4
-0.7
-6.9
7.3
1.9
0.5
RevPAR
actual
(JPY)
17,854
16,149
24,262
20,904
25,846
20,165
20,945
year-on-year
(%)
1.5
-3.2
-4.0
-7.7
9.5
5.6
0.4
Gross Revenue
actual
(JPY mn)
419
393
599
509
598
512
3,031
year-on-year
(%)
-1.8
1.1
2.1
-2.0
7.3
2.1
1.7
(Note 1) This property was acquired on March 31, 2016.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
89.8
90.9
92.5
91.7
92.2
88.2
90.9
year-on-year
(points)
6.6
1.2
0.6
7.4
3.2
-3.0
2.7
ADR
actual
(JPY)
12,338
17,338
15,436
14,828
15,249
13,287
14,726
year-on-year
(%)
20.7
29.8
22.1
31.1
28.7
14.2
24.2
RevPAR
actual
(JPY)
11,081
15,766
14,273
13,598
14,061
11,726
13,387
year-on-year
(%)
30.2
31.6
22.9
42.6
33.2
10.4
28.0
Gross Revenue
actual
(JPY mn)
77
99
99
93
97
79
547
year-on-year
(%)
29.2
25.9
23.1
42.2
33.0
10.3
26.9
(Note 1) This property was acquired on March 31, 2016.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
96.3
97.2
96.7
97.1
96.3
96.0
96.6
year-on-year
(points)
3.8
1.4
0.3
0.5
-0.8
0.1
0.9
ADR
actual
(JPY)
13,943
15,879
18,837
21,388
17,438
15,714
17,212
year-on-year
(%)
16.9
12.3
6.0
23.2
17.9
6.2
13.6
RevPAR
actual
(JPY)
13,424
15,436
18,206
20,763
16,800
15,086
16,624
year-on-year
(%)
21.7
13.9
6.3
23.9
16.9
6.4
14.6
Gross Revenue
actual
(JPY mn)
44
45
59
66
55
48
320
year-on-year
(%)
22.4
9.3
5.9
23.9
18.4
7.3
14.3
(Note 1) This property was acquired on March 31, 2016.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
61.5
70.2
79.0
76.2
78.0
70.6
72.6
year-on-year
(points)
-21.5
-3.8
-2.7
-3.4
-0.4
-5.1
-6.2
ADR
actual
(JPY)
9,804
9,704
11,579
12,798
14,564
8,868
11,365
year-on-year
(%)
1.2
-23.0
-22.7
-17.1
5.6
-11.7
-11.0
RevPAR
actual
(JPY)
6,032
6,812
9,151
9,749
11,362
6,263
8,254
year-on-year
(%)
-25.0
-26.9
-25.3
-20.6
5.0
-17.7
-18.0
Gross Revenue
actual
(JPY mn)
62
64
88
91
106
64
477
year-on-year
(%)
-21.5
-24.5
-21.9
-20.1
3.3
-14.5
-16.3
(Note 1) This property was acquired on June 15, 2016.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
80.4
84.4
87.9
88.2
89.3
82.8
85.5
year-on-year
(points)
8.8
0.7
3.5
3.4
4.0
-3.6
2.9
ADR
actual
(JPY)
8,507
9,111
10,171
10,571
11,065
9,093
9,796
year-on-year
(%)
19.5
16.3
15.7
16.3
22.0
13.7
17.3
RevPAR
actual
(JPY)
6,840
7,687
8,939
9,328
9,878
7,527
8,377
year-on-year
(%)
34.2
17.3
20.5
20.9
27.7
9.0
21.4
Gross Revenue
actual
(JPY mn)
56
55
70
70
77
61
392
year-on-year
(%)
30.8
11.7
19.5
16.4
23.9
9.3
18.3
(Note 1) This property was acquired on June 15, 2016.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
95.1
95.4
94.4
96.5
72.8
59.8
85.6
year-on-year
(points)
1.3
0.6
0.2
1.4
-20.7
-34.2
-8.6
ADR
actual
(JPY)
26,436
26,784
31,312
38,511
28,172
27,180
30,013
year-on-year
(%)
22.6
10.4
-2.5
30.9
7.7
3.6
12.6
RevPAR
actual
(JPY)
25,142
25,556
29,553
37,174
20,500
16,240
25,685
year-on-year
(%)
24.4
11.1
-2.4
32.8
-16.1
-34.1
2.3
Gross Revenue
actual
(JPY mn)
100
93
116
142
83
65
601
year-on-year
(%)
19.8
6.5
-1.9
30.4
-14.6
-31.7
1.4
(Note 1) This property was acquired on May 29, 2017.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
84.4
92.0
92.3
93.8
92.2
91.7
91.0
year-on-year
(points)
20.5
11.3
3.5
6.6
10.3
9.5
10.3
ADR
actual
(JPY)
7,331
8,387
9,381
11,880
11,794
9,807
9,817
year-on-year
(%)
6.8
7.1
7.3
27.4
41.0
48.5
22.4
RevPAR
actual
(JPY)
6,184
7,715
8,655
11,149
10,869
8,991
8,934
year-on-year
(%)
41.0
22.1
11.5
37.1
58.8
65.7
38.0
Gross Revenue
actual
(JPY mn)
120
121
146
182
177
159
906
year-on-year
(%)
26.5
7.7
12.4
29.7
34.2
43.0
25.6
(Note 1) This property was acquired on October 13, 2017.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
81.7
89.8
92.0
93.4
93.4
92.4
90.4
year-on-year
(points)
-1.9
4.2
2.3
3.0
5.7
5.4
3.1
ADR
actual
(JPY)
16,639
17,077
20,567
24,366
18,238
15,455
18,796
year-on-year
(%)
22.1
9.6
1.8
23.0
-0.8
-8.6
7.4
RevPAR
actual
(JPY)
13,599
15,342
18,925
22,752
17,034
14,274
16,998
year-on-year
(%)
19.3
15.0
4.4
27.1
5.6
-3.0
11.2
Gross Revenue
actual
(JPY mn)
110
110
148
170
135
111
786
year-on-year
(%)
17.6
9.4
4.6
24.3
5.3
-2.8
9.7
(Note 1) This property was acquired on October 13, 2017.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
86.4
88.9
88.5
80.2
85.0
82.5
85.2
year-on-year
(points)
2.3
2.2
-0.2
-5.2
1.9
-0.7
0.1
ADR
actual
(JPY)
14,023
15,375
17,833
13,507
14,727
10,489
14,392
year-on-year
(%)
1.3
-3.9
6.9
3.0
0.1
3.5
1.9
RevPAR
actual
(JPY)
12,121
13,672
15,791
10,826
12,525
8,648
12,268
year-on-year
(%)
4.2
-1.4
6.7
-3.2
2.4
2.6
2.0
Gross Revenue
actual
(JPY mn)
212
203
268
183
214
162
1,245
year-on-year
(%)
6.9
-0.4
11.7
4.7
12.0
13.3
7.9
(Note 1) This property was acquired on October 13, 2017.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
95.7
96.8
78.0
73.3
82.8
88.0
85.6
year-on-year
(points)
10.4
7.4
4.9
9.6
19.7
-0.9
8.5
ADR
actual
(JPY)
11,103
20,214
10,924
8,259
12,629
14,465
13,090
year-on-year
(%)
25.0
21.3
28.0
5.9
27.1
10.8
18.4
RevPAR
actual
(JPY)
10,622
19,570
8,517
6,056
10,456
12,729
11,210
year-on-year
(%)
40.3
31.3
36.6
21.8
66.9
9.7
31.5
Gross Revenue
actual
(JPY mn)
82
136
67
47
81
96
512
year-on-year
(%)
38.1
27.0
37.4
23.6
65.1
11.1
31.0
(Note 1) This property was acquired on October 13, 2017.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
89.9
95.8
96.4
92.6
89.8
90.3
92.4
year-on-year
(points)
7.9
7.6
2.8
2.0
-1.5
-2.6
2.7
ADR
actual
(JPY)
8,727
9,876
12,302
14,841
12,610
11,730
11,698
year-on-year
(%)
10.7
-1.0
-1.8
19.5
6.1
20.6
8.3
RevPAR
actual
(JPY)
7,847
9,463
11,857
13,750
11,320
10,595
10,812
year-on-year
(%)
21.4
7.6
1.2
22.2
4.3
17.2
11.6
Gross Revenue
actual
(JPY mn)
41
44
62
69
59
53
332
year-on-year
(%)
21.0
4.4
1.5
22.0
4.1
17.1
11.0
(Note 1) This property was acquired on February 7, 2018.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
53.5
60.7
65.9
78.4
76.2
72.8
68.0
year-on-year
(points)
5.0
-2.6
1.8
-1.1
4.9
1.2
1.6
ADR
actual
(JPY)
8,095
8,367
7,859
11,135
9,145
7,718
8,809
year-on-year
(%)
14.8
13.7
-2.3
-1.6
6.8
3.7
4.2
RevPAR
actual
(JPY)
4,328
5,075
5,182
8,728
6,971
5,619
5,986
year-on-year
(%)
26.5
9.0
0.4
-2.9
14.1
5.5
6.8
Gross Revenue
actual
(JPY mn)
46
42
59
83
68
61
360
year-on-year
(%)
37.0
-2.0
8.3
-0.5
23.0
2.2
9.0
(Note 1) This property was acquired on February 7, 2018.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
63.6
75.2
68.8
83.6
85.5
83.9
76.7
year-on-year
(points)
-0.9
-1.5
-8.9
0.1
19.4
9.3
3.0
ADR
actual
(JPY)
9,529
12,061
9,528
29,043
15,843
12,661
15,209
year-on-year
(%)
11.6
10.3
1.6
2.9
-6.2
1.4
3.5
RevPAR
actual
(JPY)
6,063
9,068
6,558
24,275
13,551
10,623
11,669
year-on-year
(%)
10.0
8.2
-10.1
3.0
21.4
14.0
7.7
Gross Revenue
actual
(JPY mn)
63
74
75
161
118
104
596
year-on-year
(%)
-9.9
-9.0
-19.9
-3.1
5.3
6.8
-4.1
(Note 1) This property was acquired on February 7, 2018.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
91.4
91.0
87.2
89.8
78.8
72.1
85.0
year-on-year
(points)
2.7
-1.5
-8.0
2.7
-9.1
-18.2
-5.3
ADR
actual
(JPY)
6,897
8,465
8,155
6,782
7,980
6,687
7,500
year-on-year
(%)
0.7
-1.8
5.9
-3.1
1.1
-8.9
-0.9
RevPAR
actual
(JPY)
6,302
7,702
7,114
6,088
6,286
4,824
6,374
year-on-year
(%)
3.8
-3.3
-3.0
-0.1
-9.4
-27.2
-6.7
Gross Revenue
actual
(JPY mn)
30
33
34
29
31
23
183
year-on-year
(%)
6.1
-6.7
-3.2
-0.5
-8.6
-25.7
-6.6
(Note 1) This property was acquired on February 7, 2018.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
93.2
93.8
90.6
95.1
94.1
93.7
93.4
year-on-year
(points)
1.8
-0.5
-4.0
3.8
5.5
1.4
1.3
ADR
actual
(JPY)
12,290
14,129
15,699
19,034
14,917
11,731
14,641
year-on-year
(%)
19.2
12.5
-2.3
14.6
8.1
-2.7
7.8
RevPAR
actual
(JPY)
11,457
13,253
14,217
18,106
14,038
10,988
13,674
year-on-year
(%)
21.6
11.9
-6.4
19.4
14.8
-1.3
9.4
Gross Revenue
actual
(JPY mn)
39
41
48
60
48
36
274
year-on-year
(%)
20.9
8.2
-6.2
19.7
14.9
-1.5
8.8
(Note 1) This property was acquired on June 27, 2018.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
81.7
84.9
92.0
92.7
83.4
88.5
87.2
year-on-year
(points)
-5.6
-5.6
0.0
5.3
-4.1
-2.5
-2.1
ADR
actual
(JPY)
10,777
14,553
14,280
14,264
13,505
11,173
13,107
year-on-year
(%)
17.4
23.0
2.3
6.4
12.7
1.1
10.0
RevPAR
actual
(JPY)
8,809
12,353
13,138
13,226
11,266
9,883
11,430
year-on-year
(%)
9.9
15.4
2.3
12.8
7.4
-1.8
7.5
Gross Revenue
actual
(JPY mn)
35
43
53
50
45
37
265
year-on-year
(%)
9.5
11.6
3.7
14.1
7.7
-1.6
7.4
(Note 1) This property was acquired on June 27, 2018.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
91.4
92.5
92.5
92.7
92.9
90.0
92.0
year-on-year
(points)
7.4
2.2
2.5
2.0
2.0
-0.9
2.5
ADR
actual
(JPY)
18,896
20,387
23,545
30,657
23,076
17,518
22,391
year-on-year
(%)
44.5
26.2
1.6
35.4
20.0
1.5
19.9
RevPAR
actual
(JPY)
17,280
18,855
21,776
28,407
21,444
15,764
20,600
year-on-year
(%)
57.3
29.2
4.4
38.4
22.6
0.4
23.4
Gross Revenue
actual
(JPY mn)
188
185
235
295
233
171
1,309
year-on-year
(%)
53.6
24.2
4.5
36.4
21.2
2.1
21.9
(Note 1) This property was acquired on August 2, 2018.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
86.7
90.6
80.8
62.2
73.4
76.1
78.2
year-on-year
(points)
14.4
4.3
11.7
11.8
26.4
3.5
12.1
ADR
actual
(JPY)
13,799
20,286
12,299
8,888
11,999
13,836
13,765
year-on-year
(%)
43.1
24.0
25.6
-3.4
-3.6
-8.5
11.5
RevPAR
actual
(JPY)
11,957
18,388
9,939
5,530
8,810
10,523
10,764
year-on-year
(%)
71.6
30.2
47.0
19.0
50.5
-4.1
31.9
Gross Revenue
actual
(JPY mn)
215
267
181
108
165
187
1,125
year-on-year
(%)
53.9
22.8
37.0
12.7
45.7
-0.1
26.8
(Note 1) This property was acquired on August 2, 2018.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
89.4
92.5
92.0
93.2
92.2
92.5
91.9
year-on-year
(points)
2.4
2.0
-0.6
2.1
2.2
1.6
1.6
ADR
actual
(JPY)
12,377
14,250
16,478
18,814
15,492
12,777
15,054
year-on-year
(%)
35.2
28.8
14.3
26.7
32.9
10.3
23.9
RevPAR
actual
(JPY)
11,064
13,181
15,156
17,531
14,289
11,817
13,841
year-on-year
(%)
38.9
31.7
13.5
29.6
36.1
12.2
26.1
Gross Revenue
actual
(JPY mn)
53
56
72
79
67
54
383
year-on-year
(%)
36.8
26.2
11.5
26.1
30.7
10.4
22.7
(Note 1) This property was acquired on August 2, 2018.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
79.9
89.2
92.7
94.9
95.2
95.3
91.2
year-on-year
(points)
25.0
17.8
8.9
8.6
8.7
4.0
12.2
ADR
actual
(JPY)
11,960
12,019
12,965
17,495
18,096
15,392
14,790
year-on-year
(%)
16.2
5.8
-0.2
34.0
51.1
48.0
25.7
RevPAR
actual
(JPY)
9,552
10,719
12,024
16,599
17,226
14,665
13,486
year-on-year
(%)
69.2
32.2
10.5
47.4
66.3
54.5
45.1
Gross Revenue
actual
(JPY mn)
33
33
41
54
58
48
270
year-on-year
(%)
66.5
27.4
10.4
46.6
64.4
53.4
43.4
(Note 1) This property was acquired on August 2, 2018.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
96.9
96.4
82.3
69.4
79.6
87.7
85.3
year-on-year
(points)
15.5
7.5
6.0
7.9
12.3
3.5
8.8
ADR
actual
(JPY)
14,816
25,076
14,404
10,256
15,299
17,189
16,409
year-on-year
(%)
29.3
20.1
34.0
6.6
27.4
4.1
18.6
RevPAR
actual
(JPY)
14,358
24,177
11,853
7,120
12,174
15,077
13,993
year-on-year
(%)
54.0
30.3
44.5
20.4
50.7
8.4
32.2
Gross Revenue
actual
(JPY mn)
163
234
140
87
141
166
933
year-on-year
(%)
48.5
25.3
38.7
17.0
44.2
7.2
28.5
(Note 1) This property was acquired on July 19, 2019.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
64.9
74.5
84.3
89.0
75.4
76.6
77.4
year-on-year
(points)
3.5
0.2
4.4
9.7
12.1
10.7
6.8
ADR
actual
(JPY)
14,342
13,755
16,055
15,491
15,236
16,071
15,226
year-on-year
(%)
1.2
-3.2
3.9
-3.7
-3.3
0.7
-0.5
RevPAR
actual
(JPY)
9,313
10,244
13,535
13,788
11,489
12,306
11,791
year-on-year
(%)
6.9
-2.9
9.6
8.1
15.2
17.1
9.2
Gross Revenue
actual
(JPY mn)
130
127
171
163
142
151
887
year-on-year
(%)
11.0
-8.6
17.6
15.3
12.2
20.7
11.3
(Note 1) This property was acquired on July 19, 2019.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
87.5
92.6
91.0
94.5
92.6
72.9
88.5
year-on-year
(points)
7.5
4.2
-0.1
0.7
-0.7
-16.3
-0.8
ADR
actual
(JPY)
27,564
24,807
29,136
37,846
28,053
20,028
28,272
year-on-year
(%)
19.3
7.9
1.7
10.0
-3.2
-9.4
5.1
RevPAR
actual
(JPY)
24,130
22,962
26,505
35,751
25,982
14,603
25,021
year-on-year
(%)
30.4
13.0
1.5
10.8
-3.9
-25.9
4.2
Gross Revenue
actual
(JPY mn)
138
121
151
197
153
90
852
year-on-year
(%)
25.1
6.1
-0.5
10.6
-4.0
-21.8
2.6
(Note 1) This property was acquired on July 19, 2019.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
95.4
95.2
85.1
61.5
76.3
84.8
83.0
year-on-year
(points)
21.8
9.7
22.0
7.0
5.3
0.4
11.0
ADR
actual
(JPY)
17,303
22,166
14,187
12,443
16,339
18,131
17,010
year-on-year
(%)
10.1
7.7
6.6
-13.1
2.5
-1.4
2.1
RevPAR
actual
(JPY)
16,509
21,098
12,077
7,652
12,462
15,373
14,110
year-on-year
(%)
42.6
19.9
43.8
-2.0
10.1
-0.9
17.8
Gross Revenue
actual
(JPY mn)
95
105
76
47
75
87
487
year-on-year
(%)
37.3
13.0
32.3
-1.0
7.6
-3.0
13.7
(Note 1) This property was acquired on July 19, 2019.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
52.3
66.6
84.1
80.6
78.0
61.3
70.5
year-on-year
(points)
-31.3
-16.5
0.4
3.0
-0.2
-5.1
-8.2
ADR
actual
(JPY)
7,773
7,805
8,977
9,954
11,364
7,554
9,085
year-on-year
(%)
-12.3
-28.0
-22.2
-19.5
-0.8
-11.9
-14.7
RevPAR
actual
(JPY)
4,062
5,198
7,550
8,026
8,864
4,629
6,408
year-on-year
(%)
-45.1
-42.3
-21.8
-16.4
-1.1
-18.6
-23.6
Gross Revenue
actual
(JPY mn)
31
28
50
52
58
31
252
year-on-year
(%)
-36.9
-48.6
-22.0
-16.8
-2.1
-17.3
-23.6
(Note 1) This property was acquired on July 19, 2019.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
53.4
64.1
65.3
63.3
59.3
59.8
60.8
year-on-year
(points)
1.3
5.4
-14.2
-14.8
-22.2
-22.3
-11.2
ADR
actual
(JPY)
7,211
7,484
8,148
8,656
11,279
8,343
8,541
year-on-year
(%)
10.7
4.0
5.1
-4.4
29.8
-0.8
5.9
RevPAR
actual
(JPY)
3,854
4,796
5,317
5,478
6,687
4,989
5,193
year-on-year
(%)
13.5
13.6
-13.7
-22.5
-5.6
-27.7
-10.6
Gross Revenue
actual
(JPY mn)
76
79
104
92
108
96
558
year-on-year
(%)
13.5
7.6
-4.6
-17.6
-4.7
-11.8
-4.8
(Note 1) This property was acquired on July 19, 2019.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
89.7
90.7
91.8
93.0
85.3
80.7
88.5
year-on-year
(points)
7.2
1.7
1.8
0.6
-7.1
-6.9
-0.5
ADR
actual
(JPY)
8,263
8,858
9,259
11,661
10,478
8,787
9,571
year-on-year
(%)
0.9
-2.4
1.5
11.0
26.7
4.5
7.1
RevPAR
actual
(JPY)
7,410
8,035
8,501
10,847
8,938
7,089
8,472
year-on-year
(%)
9.7
-0.5
3.6
11.8
17.0
-3.7
6.6
Gross Revenue
actual
(JPY mn)
42
41
47
58
50
39
278
year-on-year
(%)
8.4
-3.4
3.6
11.2
15.7
-2.6
5.7
(Note 1) This property was acquired on July 19, 2019.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
95.3
94.0
81.2
58.2
79.4
86.5
82.4
year-on-year
(points)
24.2
6.4
15.7
-1.7
10.0
0.7
9.3
ADR
actual
(JPY)
17,771
23,652
15,168
13,289
17,530
19,468
18,100
year-on-year
(%)
14.6
13.3
13.2
-5.8
1.2
5.0
7.1
RevPAR
actual
(JPY)
16,934
22,238
12,322
7,734
13,924
16,832
14,907
year-on-year
(%)
53.7
21.6
40.3
-8.4
15.8
5.9
20.8
Gross Revenue
actual
(JPY mn)
67
76
52
34
60
69
361
year-on-year
(%)
48.7
17.0
28.8
-7.2
10.7
7.9
17.3
(Note 1) This property was acquired on July 19, 2019.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
79.3
93.7
89.1
89.6
91.1
85.1
87.9
year-on-year
(points)
3.1
6.1
7.2
11.2
5.8
6.1
6.5
ADR
actual
(JPY)
6,266
7,475
6,863
5,742
7,383
5,890
6,618
year-on-year
(%)
6.6
-2.2
-1.9
-9.1
-5.9
1.9
-2.4
RevPAR
actual
(JPY)
4,971
7,003
6,113
5,146
6,724
5,012
5,817
year-on-year
(%)
11.0
4.6
6.8
3.9
0.5
9.8
5.5
Gross Revenue
actual
(JPY mn)
46
51
52
44
54
45
295
year-on-year
(%)
14.9
0.2
1.4
3.9
-3.7
9.3
3.6
(Note 1) This property was acquired on July 19, 2019.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
88.3
87.9
70.6
54.2
73.5
87.1
76.8
year-on-year
(points)
6.5
5.2
-0.4
1.6
-4.1
-0.9
1.2
ADR
actual
(JPY)
10,996
15,073
8,779
7,599
11,070
15,364
11,804
year-on-year
(%)
30.7
19.0
20.6
-3.0
6.4
14.3
15.5
RevPAR
actual
(JPY)
9,711
13,253
6,199
4,120
8,139
13,384
9,070
year-on-year
(%)
41.1
26.4
20.0
0.0
0.8
13.2
17.4
Gross Revenue
actual
(JPY mn)
211
201
160
132
171
227
1,105
year-on-year
(%)
20.6
9.2
6.9
-0.4
3.8
1.9
7.1
(Note 1) This property was acquired on July 19, 2019.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
75.8
81.3
88.4
83.8
83.2
81.2
82.3
year-on-year
(points)
11.2
6.7
11.5
12.6
7.8
5.9
9.3
ADR
actual
(JPY)
9,322
10,633
9,740
9,510
10,581
8,205
9,666
year-on-year
(%)
21.2
12.0
9.2
8.5
7.7
8.4
10.7
RevPAR
actual
(JPY)
7,065
8,648
8,611
7,974
8,805
6,660
7,956
year-on-year
(%)
42.2
22.1
25.5
27.6
18.9
17.0
24.8
Gross Revenue
actual
(JPY mn)
64
69
77
70
77
67
426
year-on-year
(%)
17.9
5.5
15.8
18.3
6.9
12.1
12.4
(Note 1) This property was acquired on July 19, 2019.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
93.7
97.0
82.0
49.6
71.9
77.8
78.5
year-on-year
(points)
26.0
8.6
15.3
11.0
20.8
-2.5
13.2
ADR
actual
(JPY)
9,560
16,462
9,284
7,404
11,136
12,516
11,336
year-on-year
(%)
40.2
32.0
37.7
16.9
38.4
24.2
28.8
RevPAR
actual
(JPY)
8,961
15,964
7,611
3,674
8,007
9,736
8,902
year-on-year
(%)
93.9
44.8
69.3
50.3
94.6
20.4
54.9
Gross Revenue
actual
(JPY mn)
32
49
27
13
28
34
185
year-on-year
(%)
87.3
38.6
67.8
53.3
90.6
21.1
52.9
(Note 1) This property was acquired on July 19, 2019.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
95.1
92.4
77.9
63.1
73.6
79.1
80.1
year-on-year
(points)
38.2
14.0
28.6
30.9
33.8
4.1
25.1
ADR
actual
(JPY)
10,255
17,710
9,897
7,734
11,090
12,401
11,679
year-on-year
(%)
10.0
6.4
14.5
-10.9
9.3
2.4
1.2
RevPAR
actual
(JPY)
9,754
16,357
7,711
4,880
8,162
9,805
9,354
year-on-year
(%)
83.7
25.5
81.0
74.5
101.9
8.0
47.2
Gross Revenue
actual
(JPY mn)
25
40
21
13
22
26
150
year-on-year
(%)
73.6
23.8
81.6
77.9
103.2
10.2
47.0
(Note 1) This property was acquired on July 19, 2019.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
91.1
94.9
69.0
48.8
67.9
76.5
74.5
year-on-year
(points)
37.2
25.0
37.6
24.0
14.9
1.7
23.4
ADR
actual
(JPY)
7,899
14,467
8,579
6,110
9,896
11,306
9,999
year-on-year
(%)
40.6
22.1
37.4
0.0
42.3
20.1
21.5
RevPAR
actual
(JPY)
7,195
13,725
5,915
2,981
6,720
8,654
7,448
year-on-year
(%)
137.6
65.9
202.0
97.2
82.2
22.9
77.1
Gross Revenue
actual
(JPY mn)
17
30
14
7
16
21
109
year-on-year
(%)
129.2
59.3
189.5
97.8
82.8
23.8
74.7
(Note 1) This property was acquired on July 19, 2019.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
88.2
95.9
94.8
96.8
91.2
86.0
92.1
year-on-year
(points)
5.9
3.8
-1.4
0.3
-0.7
-2.0
0.9
ADR
actual
(JPY)
6,907
7,546
8,465
8,163
8,760
8,362
8,043
year-on-year
(%)
12.5
5.8
9.4
5.6
6.5
10.4
8.0
RevPAR
actual
(JPY)
6,089
7,234
8,028
7,898
7,985
7,196
7,406
year-on-year
(%)
20.5
10.2
7.8
6.0
5.7
7.8
9.1
Gross Revenue
actual
(JPY mn)
13
14
17
17
17
15
96
year-on-year
(%)
19.2
5.5
6.8
7.4
4.4
6.7
7.8
(Note 1) This property was acquired on July 19, 2019.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
68.8
71.1
72.3
77.8
74.1
73.7
72.9
year-on-year
(points)
13.5
3.3
0.0
3.0
5.2
2.8
4.7
ADR
actual
(JPY)
5,309
6,469
7,270
8,172
7,432
6,050
6,816
year-on-year
(%)
23.4
34.3
42.4
48.8
31.8
14.3
32.6
RevPAR
actual
(JPY)
3,650
4,598
5,255
6,358
5,504
4,459
4,972
year-on-year
(%)
53.6
40.8
42.3
54.7
41.8
18.8
41.6
Gross Revenue
actual
(JPY mn)
18
20
26
30
27
21
146
year-on-year
(%)
51.8
36.0
41.9
54.4
41.5
18.8
40.5
(Note 1) This property was acquired on July 19, 2019.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
94.0
96.8
96.1
96.6
97.5
96.0
96.2
year-on-year
(points)
3.5
0.9
3.3
7.2
3.4
5.8
4.0
ADR
actual
(JPY)
5,710
7,014
6,367
5,363
6,594
5,221
6,040
year-on-year
(%)
5.9
1.3
-1.8
-10.4
-9.4
-0.9
-3.1
RevPAR
actual
(JPY)
5,370
6,787
6,119
5,182
6,428
5,011
5,808
year-on-year
(%)
10.0
2.3
1.7
-3.1
-6.1
5.5
1.1
Gross Revenue
actual
(JPY mn)
13
14
14
12
15
11
82
year-on-year
(%)
13.2
0.0
1.3
-3.7
-6.2
4.5
1.0
(Note 1) This property was acquired on July 19, 2019.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
81.5
94.1
76.4
69.2
79.6
91.8
81.9
year-on-year
(points)
7.1
3.8
5.1
13.0
9.6
7.5
7.6
ADR
actual
(JPY)
9,220
9,694
8,751
8,255
8,625
9,362
9,022
year-on-year
(%)
4.6
10.3
2.7
1.0
1.8
3.0
4.0
RevPAR
actual
(JPY)
7,512
9,126
6,687
5,716
6,864
8,596
7,391
year-on-year
(%)
14.6
14.9
10.0
24.4
15.8
12.1
14.6
Gross Revenue
actual
(JPY mn)
17
19
15
12
16
19
101
year-on-year
(%)
13.7
8.9
12.1
23.5
17.0
13.5
14.1
(Note 1) This property was acquired on July 19, 2019.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
70.7
73.4
73.4
80.1
74.4
67.6
73.3
year-on-year
(points)
5.1
2.7
2.2
4.8
6.4
3.4
4.1
ADR
actual
(JPY)
9,760
9,561
9,633
9,885
9,767
9,209
9,647
year-on-year
(%)
4.9
2.3
2.8
3.4
1.0
-3.6
1.9
RevPAR
actual
(JPY)
6,902
7,018
7,067
7,916
7,268
6,229
7,067
year-on-year
(%)
13.0
6.2
6.0
10.0
10.5
1.5
7.9
Gross Revenue
actual
(JPY mn)
218
191
215
242
227
185
1,281
year-on-year
(%)
8.4
2.2
2.3
8.3
10.1
-1.0
5.2
(Note 1) This property was acquired on January 6, 2020.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
77.9
82.0
82.1
85.5
78.1
80.2
80.9
year-on-year
(points)
-3.6
2.7
-3.6
0.2
1.3
-4.4
-1.3
ADR
actual
(JPY)
7,917
8,558
8,077
10,701
10,881
9,409
9,268
year-on-year
(%)
11.0
8.6
10.8
9.3
7.4
7.1
9.2
RevPAR
actual
(JPY)
6,167
7,015
6,631
9,144
8,496
7,549
7,499
year-on-year
(%)
6.1
12.2
6.1
9.6
9.2
1.5
7.5
Gross Revenue
actual
(JPY mn)
92
88
101
130
117
103
633
year-on-year
(%)
5.4
0.0
-2.3
22.0
8.4
-5.7
4.7
(Note 1) This property was acquired on January 6, 2020.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
51.8
64.7
86.6
91.2
86.0
87.1
78.0
year-on-year
(points)
8.3
7.2
10.7
13.1
12.0
11.4
10.5
ADR
actual
(JPY)
27,366
22,120
33,143
34,253
34,572
34,866
31,874
year-on-year
(%)
-8.0
-4.5
-2.8
-2.8
-3.0
-3.6
-3.5
RevPAR
actual
(JPY)
14,184
14,315
28,686
31,223
29,736
30,358
24,857
year-on-year
(%)
9.4
7.4
10.9
13.5
12.8
10.9
11.6
Gross Revenue
actual
(JPY mn)
290
274
564
596
582
573
2,882
year-on-year
(%)
12.0
5.6
12.1
13.5
12.5
13.0
12.0
(Note 1) This property was acquired on August 1, 2023.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
70.3
86.9
83.3
86.3
91.1
90.9
84.7
year-on-year
(points)
5.2
9.9
1.5
5.0
3.9
2.5
4.6
ADR
actual
(JPY)
26,390
19,215
24,794
20,564
24,962
18,504
22,334
year-on-year
(%)
9.7
-5.9
8.2
-5.2
3.7
-0.3
1.9
RevPAR
actual
(JPY)
18,553
16,698
20,645
17,745
22,753
16,811
18,921
year-on-year
(%)
18.5
6.1
10.2
0.7
8.3
2.4
7.8
Gross Revenue
actual
(JPY mn)
178
165
203
181
221
183
1,134
year-on-year
(%)
14.5
7.0
5.4
4.9
7.6
4.4
7.2
(Note 1) This property was acquired on August 1, 2023.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
79.5
86.6
92.4
92.1
87.3
88.1
87.7
year-on-year
(points)
-5.5
-4.6
-1.8
0.7
0.9
6.5
-0.6
ADR
actual
(JPY)
6,715
7,696
8,934
8,065
9,512
7,189
8,057
year-on-year
(%)
12.1
12.6
17.9
6.5
18.1
9.1
13.1
RevPAR
actual
(JPY)
5,339
6,663
8,256
7,429
8,308
6,336
7,064
year-on-year
(%)
4.9
6.8
15.5
7.4
19.3
17.8
12.3
Gross Revenue
actual
(JPY mn)
29
31
44
38
43
33
219
year-on-year
(%)
6.0
3.6
13.7
6.2
16.6
15.8
10.5
(Note 1) This property was acquired on August 1, 2023.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
77.9
80.4
76.5
80.6
83.8
83.0
80.4
year-on-year
(points)
4.7
0.8
2.3
4.4
10.1
3.4
4.3
ADR
actual
(JPY)
7,760
8,807
6,947
17,219
11,038
10,298
10,382
year-on-year
(%)
6.6
7.8
1.6
7.9
10.4
8.7
8.0
RevPAR
actual
(JPY)
6,047
7,079
5,313
13,875
9,252
8,550
8,342
year-on-year
(%)
13.5
8.9
4.8
14.2
25.4
13.4
14.1
Gross Revenue
actual
(JPY mn)
28
30
25
59
42
38
225
year-on-year
(%)
9.3
7.5
0.5
12.8
24.4
12.5
12.0
(Note 1) This property was acquired on August 1, 2023.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
85.8
92.4
93.7
94.0
88.0
89.8
90.6
year-on-year
(points)
0.9
0.2
-0.1
2.0
-3.9
-1.1
-0.3
ADR
actual
(JPY)
8,108
11,738
10,653
10,854
11,385
9,827
10,432
year-on-year
(%)
15.6
39.7
8.4
11.2
1.1
16.1
13.9
RevPAR
actual
(JPY)
6,954
10,843
9,981
10,205
10,014
8,821
9,447
year-on-year
(%)
16.9
40.1
8.3
13.6
-3.1
14.7
13.5
Gross Revenue
actual
(JPY mn)
31
41
42
43
42
36
238
year-on-year
(%)
15.4
30.4
7.4
12.8
-4.3
10.2
10.8
(Note 1) This property was acquired on August 1, 2023.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
73.8
81.1
69.1
69.3
64.9
63.3
70.1
year-on-year
(points)
7.6
12.4
21.8
0.9
2.3
3.9
8.1
ADR
actual
(JPY)
12,486
10,052
11,055
14,980
15,451
10,977
12,461
year-on-year
(%)
-9.4
-15.5
-12.0
3.5
3.8
-4.5
-5.9
RevPAR
actual
(JPY)
9,219
8,154
7,641
10,374
10,031
6,952
8,738
year-on-year
(%)
1.0
-0.3
28.5
4.8
7.6
1.8
6.4
Gross Revenue
actual
(JPY mn)
54
46
47
51
51
40
291
year-on-year
(%)
13.2
14.3
38.1
7.1
9.1
9.5
14.3
(Note 1) This property was acquired on August 1, 2023.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
79.7
77.3
83.7
97.8
96.9
97.6
88.9
year-on-year
(points)
6.3
-4.3
0.0
21.4
26.1
24.0
12.4
ADR
actual
(JPY)
15,858
16,489
18,818
21,745
24,573
23,905
20,584
year-on-year
(%)
13.3
2.2
-1.3
17.2
41.1
64.6
23.5
RevPAR
actual
(JPY)
12,646
12,738
15,743
21,259
23,820
23,324
18,302
year-on-year
(%)
23.0
-3.2
-1.3
50.1
93.2
118.4
43.4
Gross Revenue
actual
(JPY mn)
516
484
538
573
669
651
3,434
year-on-year
(%)
9.4
-4.4
-1.1
24.3
45.9
52.4
19.6
(Note 1) This property was acquired on July 31, 2024.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
75.8
73.1
82.7
80.7
80.4
86.9
80.0
year-on-year
(points)
23.2
11.8
11.5
-1.0
-2.7
3.4
7.8
ADR
actual
(JPY)
13,066
13,030
11,909
16,551
18,894
17,252
15,196
year-on-year
(%)
5.4
4.9
3.7
-0.6
6.1
-2.1
0.7
RevPAR
actual
(JPY)
9,904
9,523
9,845
13,360
15,195
14,985
12,156
year-on-year
(%)
51.7
25.2
20.6
-1.8
2.6
1.9
11.5
Gross Revenue
actual
(JPY mn)
255
230
258
304
348
327
1,726
year-on-year
(%)
40.0
22.3
19.5
4.6
5.7
0.4
12.4
(Note 1) This property was acquired on July 31, 2024.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
93.0
94.2
95.0
96.0
92.3
94.4
94.2
year-on-year
(points)
1.3
0.6
0.1
0.9
1.4
1.7
1.0
ADR
actual
(JPY)
19,580
20,612
22,692
27,067
21,159
18,567
21,640
year-on-year
(%)
29.6
15.7
6.8
30.1
20.6
7.0
18.0
RevPAR
actual
(JPY)
18,204
19,420
21,567
25,997
19,534
17,528
20,375
year-on-year
(%)
31.5
16.5
6.9
31.3
22.5
9.0
19.3
Gross Revenue
actual
(JPY mn)
190
141
158
181
154
153
979
year-on-year
(%)
21.2
12.4
7.0
25.9
12.8
5.9
14.3
(Note 1) This property was acquired on July 31, 2024.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
86.8
89.1
83.4
83.6
87.6
78.2
84.8
year-on-year
(points)
14.7
11.6
-3.6
2.7
7.9
0.9
5.7
ADR
actual
(JPY)
8,873
11,406
11,035
9,803
11,185
8,797
10,199
year-on-year
(%)
5.1
10.8
16.9
11.1
11.9
5.7
10.6
RevPAR
actual
(JPY)
7,706
10,161
9,202
8,198
9,796
6,877
8,644
year-on-year
(%)
26.5
27.4
12.1
14.8
23.1
7.0
18.5
Gross Revenue
actual
(JPY mn)
53
61
62
54
66
46
345
year-on-year
(%)
32.4
33.7
21.2
18.8
22.0
5.7
22.2
(Note 1) This property was acquired on July 31, 2024.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
55.1
74.8
66.3
73.1
81.3
79.3
71.6
year-on-year
(points)
-7.4
2.6
-3.8
5.9
11.7
6.4
2.5
ADR
actual
(JPY)
7,751
8,425
7,247
16,876
11,126
10,668
10,517
year-on-year
(%)
4.8
9.5
2.6
11.3
6.5
9.7
10.0
RevPAR
actual
(JPY)
4,270
6,304
4,808
12,336
9,047
8,459
7,526
year-on-year
(%)
-7.7
13.4
-3.0
21.1
24.4
19.2
14.0
Gross Revenue
actual
(JPY mn)
44
55
53
100
82
76
412
year-on-year
(%)
-7.0
8.4
-8.4
17.9
19.3
11.2
8.5
(Note 1) This property was acquired on July 31, 2024.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
76.3
92.4
95.0
91.2
91.1
88.4
89.0
year-on-year
(points)
-6.5
2.2
0.8
5.8
4.3
-2.5
0.6
ADR
actual
(JPY)
39,109
32,014
32,464
29,541
33,484
27,059
32,161
year-on-year
(%)
14.2
-2.6
-6.8
-4.0
-0.2
-8.6
-1.6
RevPAR
actual
(JPY)
29,842
29,582
30,845
26,927
30,499
23,910
28,620
year-on-year
(%)
5.3
-0.2
-6.0
2.6
4.8
-11.1
-0.8
Gross Revenue
actual
(JPY mn)
94
89
103
89
99
81
558
year-on-year
(%)
8.3
4.3
3.2
11.9
13.6
-1.3
6.6
(Note 1) This property was acquired on July 31, 2024.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
86.6
88.4
87.4
83.6
77.5
77.0
83.4
year-on-year
(points)
5.6
3.5
1.3
-0.8
-6.1
-10.7
-1.2
ADR
actual
(JPY)
7,445
9,063
8,819
7,243
8,470
6,989
8,017
year-on-year
(%)
2.3
-6.2
-0.4
-5.1
0.4
-7.7
-2.6
RevPAR
actual
(JPY)
6,450
8,012
7,710
6,053
6,567
5,378
6,684
year-on-year
(%)
9.3
-2.3
1.2
-6.0
-7.0
-18.9
-4.1
Gross Revenue
actual
(JPY mn)
74
75
82
63
74
61
431
year-on-year
(%)
6.3
-8.7
-5.0
-10.8
-5.9
-16.9
-6.9
(Note 1) This property was acquired on July 31, 2024.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
91.8
93.1
93.4
93.4
88.5
90.9
91.8
year-on-year
(points)
4.8
1.7
3.6
7.3
5.2
3.5
4.4
ADR
actual
(JPY)
10,506
13,429
12,771
10,463
12,360
9,028
11,415
year-on-year
(%)
1.7
14.4
8.4
9.8
15.2
-12.7
6.2
RevPAR
actual
(JPY)
9,646
12,500
11,929
9,773
10,937
8,206
10,482
year-on-year
(%)
7.4
16.5
12.8
19.2
22.4
-9.2
11.5
Gross Revenue
actual
(JPY mn)
93
111
133
117
115
107
678
year-on-year
(%)
6.7
4.9
7.6
14.3
-11.6
-5.3
2.1
(Note 1) This property was acquired on July 31, 2024.
(Note 2) There is a building operating as "Suisui Garden Ryokan" on the property site. The building is not owned by INV, but INV has agreed with the owner of the building to include the revenue from the operation of the building in the GOP of the property and collect it as part of the property's rent, assuming that INV will bear repair costs, etc. of the building. Therefore, the number of guest rooms of the property is 93, including the three guest rooms of the "Suisui Garden Ryokan".
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
86.7
86.1
83.3
79.9
86.4
76.4
83.1
year-on-year
(points)
5.0
4.6
2.5
3.9
10.0
-4.6
3.6
ADR
actual
(JPY)
10,665
18,027
11,150
8,757
10,869
8,469
11,326
year-on-year
(%)
10.5
4.4
-1.2
-10.7
-6.7
-3.7
-0.5
RevPAR
actual
(JPY)
9,251
15,528
9,291
6,995
9,386
6,470
9,417
year-on-year
(%)
17.2
10.3
1.9
-6.1
5.5
-9.1
4.0
Gross Revenue
actual
(JPY mn)
69
83
65
48
60
49
376
year-on-year
(%)
17.6
6.6
-0.9
-6.1
1.3
-5.2
2.7
(Note 1) This property was acquired on July 31, 2024.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
76.3
82.2
85.0
74.8
78.3
65.1
76.9
year-on-year
(points)
16.9
4.4
7.8
4.2
4.8
-4.3
5.7
ADR
actual
(JPY)
8,993
9,744
9,872
8,277
10,108
6,964
9,078
year-on-year
(%)
8.6
-3.2
1.6
-7.0
-6.6
-12.2
-2.9
RevPAR
actual
(JPY)
6,865
8,009
8,396
6,188
7,915
4,534
6,985
year-on-year
(%)
39.6
2.2
11.8
-1.5
-0.6
-17.7
4.8
Gross Revenue
actual
(JPY mn)
72
74
89
67
82
53
440
year-on-year
(%)
27.0
-1.9
7.2
2.3
3.6
-11.2
4.2
(Note 1) This property was acquired on July 31, 2024.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
78.6
82.8
94.6
92.6
93.5
81.8
87.4
year-on-year
(points)
21.9
3.9
7.0
4.2
3.0
-4.9
6.0
ADR
actual
(JPY)
18,056
15,137
20,573
19,586
21,126
15,305
18,499
year-on-year
(%)
0.8
-3.9
0.9
-2.9
3.5
1.3
0.4
RevPAR
actual
(JPY)
14,197
12,535
19,467
18,144
19,749
12,521
16,170
year-on-year
(%)
39.7
0.8
9.0
1.7
6.9
-4.5
7.8
Gross Revenue
actual
(JPY mn)
50
43
71
63
69
49
346
year-on-year
(%)
23.9
-4.0
9.0
4.8
5.0
-4.8
5.3
(Note 1) This property was acquired on July 31, 2024.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
80.5
89.3
87.6
85.2
92.9
75.5
85.1
year-on-year
(points)
11.6
15.1
-2.1
1.4
16.6
-0.4
7.0
ADR
actual
(JPY)
19,136
15,534
20,418
20,399
18,792
17,255
18,646
year-on-year
(%)
11.7
-1.3
15.7
28.9
0.0
20.9
12.3
RevPAR
actual
(JPY)
15,403
13,870
17,894
17,371
17,464
13,023
15,877
year-on-year
(%)
30.5
18.8
13.0
31.1
21.7
20.3
22.3
Gross Revenue
actual
(JPY mn)
51
45
58
52
56
42
307
year-on-year
(%)
29.0
24.3
14.7
21.0
23.5
14.0
20.9
(Note 1) This property was acquired on July 31, 2024.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
84.1
87.4
90.5
79.3
66.5
66.2
78.9
year-on-year
(points)
3.6
5.9
0.6
-2.9
-8.1
-8.3
-1.6
ADR
actual
(USD)
766
809
821
759
495
467
702
year-on-year
(%)
4.6
12.1
4.7
9.0
-5.1
-0.5
6.2
RevPAR
actual
(USD)
644
707
743
601
329
309
554
year-on-year
(%)
9.3
20.2
5.4
5.2
-15.3
-11.6
4.1
Gross Revenue
actual
(USD'000)
11,756
10,963
13,267
10,607
6,650
6,013
59,258
year-on-year
(%)
3.9
6.3
-3.6
-3.2
-15.8
-12.2
-3.0
(Note 1) This property was acquired on Septemer 28, 2018.
2025/01
2025/02
2025/03
2025/04
2025/05
2025/06
2025/01~06
Occupancy Rate
actual
(%)
37.8
45.6
2.1
0.0
0.0
17.2
16.7
year-on-year
(points)
-43.8
-43.2
-87.1
-74.5
-66.4
-32.2
-58.2
ADR
actual
(USD)
377
355
345
0
0
237
346
year-on-year
(%)
12.8
13.1
1.5
-100.0
-100.0
9.1
18.1
RevPAR
actual
(USD)
143
162
7
3
0
41
58
year-on-year
(%)
-47.6
-42.0
-97.6
-98.6
-100.0
-62.1
-73.6
Gross Revenue
actual
(USD'000)
886
904
57
11
0
177
2,037
year-on-year
(%)
-41.0
-37.9
-96.7
-99.0
-100.0
-73.8
-72.6
(Note 1) This property was acquired on Septemer 28, 2018.
(Note 2) Renovation Period: August 2024 - October 2025 (scheduled).