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On page 14, we present trends in our hotels operation.
Three of our properties contain hotel sections: "Tokyu Plaza Akasaka", "A-FLAG SAPPORO", and "Kobe Kyu Kyoryuchi 25 Bankan".
The graphs No 1 on the left show the average occupancy and RevPAR for the three hotels.
The average occupancy rate in the 11th period was 84%, and our hotels continued to demonstrate favorable performance from the previous period, outperforming macroeconomic indicators, backed by their high competitiveness.
Moreover, RevPAR, an indicator of the hotels’ profitability, was 100% year-on-year in the 11th period, maintaining the strong level of performance achieved last year.
The graph No 2 in the upper right shows sales-linked rents at hotels.
"Kobe Kyu Kyoryuchi 25 Bankan" is the only one property corresponding to an odd number period, and sales-linked rents grew to ¥66.4 million in the 11th period, which increases by ¥12.0 million, up 22% from the 9th period.
For the 12th period, we expect that rents will continue to increase, reaching a fixed value of ¥223.7 million and slightly increase in the 13th period to ¥67.7 million.
No.3 in the bottom right presents initiatives aimed at increasing sales at each hotel and the ratio of domestic sales to overseas.
The three hotels are characterized by a high ratio of domestic customers to total sales which is 89%, for which the demand is expected to remain stable.
Please turn to the next page.
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