Ichigo Hotel Reit Investment Corp. · TSE:3463

Ichigo Hotel Reit Investment — July 2023 fiscal period Earnings Presentation

68 slides from Ichigo Hotel Reit Investment's earnings presentation, Sep 14, 2023

  1. Slide 1: Ichigo Hotel July 2023 Fiscal Period Corporate Presentation

    Ichigo Hotel (3463) Ichigo Hotel July 2023 Fiscal Period Corporate Presentation September 14, 2023 Ichigo Hotel REIT Investment Corporation (3463) Ichigo Investment Advisors Co., Ltd. © Ichigo Investment Advisors Co., Ltd. Ichigo Hotel REIT Investment Corporation All rights reserved. www.ichigo-hote

  2. Slide 2: Make The World More Sustainable

    Make The World More Sustainable © Ichigo Investment Advisors Co., Ltd. Ichigo Hotel REIT Investment Corporation All rights reserved.

  3. Slide 3: © Ichigo Investment Advisors Co., Ltd. Ichigo Hotel REIT Investment Corporation All rights reserved.

    © Ichigo Investment Advisors Co., Ltd. Ichigo Hotel REIT Investment Corporation All rights reserved.

  4. Slide 4: © Ichigo Investment Advisors Co., Ltd. Ichigo Hotel REIT Investment Corporation All rights reserved.

    © Ichigo Investment Advisors Co., Ltd. Ichigo Hotel REIT Investment Corporation All rights reserved.

  5. Slide 5: Agenda

    July 2023 Results  Organic Growth: Driving Value via Ichigo’s Hotel  July 2023 Highlights Branding  July 2023 Earnings Breakdown  External Growth: Portfolio Growth Opportunity  Hotel Operating Results: Significant YOY Increases via Ichigo Sponsor Support in Revenue, RevPAR, Occupancy, ADR Earni

  6. Slide 6: July 2023 Results

    July 2023 Results © Ichigo Investment Advisors Co., Ltd. Ichigo Hotel REIT Investment Corporation All rights reserved. 6

  7. Slide 7: July 2023 Highlights

    July 2023 Highlights Results Details • Up on government travel subsidy program, robust JPY 721M inbound demand growth Net Income +JPY 360M (+99.7%) YOY • +JPY 320M (+79.7%) vs. initial forecast (Mar 2023) • -JPY 2M (-0.4%) vs. revised forecast (July 2023) JPY 6,948 (16 variable rent hotels) • Occupa

  8. Slide 8: July 2023 Earnings Breakdown

    July 2023 Earnings Breakdown (JPY million) Initial vs. (Reference) Jul 2022 Jul 2023 Forecast Initial Revised Major Variation Factors (vs. Initial Forecast) Actual Actual (A) (Mar 2023) Forecast Forecast (B) (A) - (B) (Jul 2023) Operating Revenue 1,248 1,796 1,400 +395 1,796 Increase in variable ren

  9. Slide 9: Significant YOY Increases in Revenue, RevPAR, Occupancy, ADR

    Hotel Operating Results Significant YOY Increases in Revenue, RevPAR, Occupancy, ADR Variable Rent Hotels (16 Hotels) Feb 1, 2022 Feb 1, 2023 Feb 1, 2019 Change YOY - Jul 31, 2022 - Jul 31, 2023 - Jul 31, 2019 Room Revenue (JPY M) 1,936 3,020 +1,084 +56.0% 2,903 Total Revenue (JPY M) 2,018 3,223 +1,

  10. Slide 10: RevPAR Growth in All Regions via ADR Increase

    Hotel Operating Results RevPAR Growth in All Regions via ADR Increase YOY by Region (Feb 2023 – Jul 2023) 23 Hotels (excludes Capsule Plus Yokohama and Washington RevPAR Occupancy ADR Hotel Plaza Shimonoseki Eki Nishi) Total Kanto/ Tokai/ Chugoku/ Portfolio Hokkaido Tokyo Kyoto Osaka Kobe Kyushu Kos

  11. Slide 11: Driving Earnings Growth (1)

    Organic Growth Driving Earnings Growth (1) Smile Hotel Nagano (Former Comfort Hotel Nagano) Rebranded & Reopened in March 2023 − Changed operator to K.K. Hospitality Operations − Driving earnings growth via change to variable-rent contract  Conducted renovations as part of rebranding  Capture both

  12. Slide 12: Driving Earnings Growth (2)

    Organic Growth Driving Earnings Growth (2) The OneFive Garden Kurashiki Reopened in March 2023 − Conducted renovations in anticipation of hotel demand recovery  Aiming for high value-add hotel via enhanced operator services  Ramp up efforts to capture leisure demand driven by Kurahashiki Bikan His

  13. Slide 13: Sustainability Initiatives

    Sustainability Initiatives Minimizing Environmental Impact of Ichigo Hotel-Owned Assets − Completed renewable energy transition at 9 hotels as of July 31, 2023 − Targeting renewable energy transition for all hotels by January 2024 − Renewable energy at transitioned hotels: 4,136,516kWh (Feb 2023 act

  14. Slide 14: Shareholder Discount Program

    Shareholder Program Shareholder Discount Program Program Established to Express Gratitude to Ichigo Hotel Shareholders and Accelerate Hotel Industry Growth Special Discount Rates (including hotels not owned by Ichigo Hotel) Minacia Co., Ltd. K.K. Hospitality Operations Greens Co., Ltd.  Hotel Wing

  15. Slide 15: Ichigo J.League Shareholder Program

    Shareholder Program Ichigo J.League Shareholder Program Represents Two Firsts for a Shareholder Program in Japan − First Japanese company to include not just its own shareholders, but also the shareholders of the REITs and solar power producer that it manages, in its shareholder program (76,000 shar

  16. Slide 16: Sustainability as a Key Management Priority

    Sustainability as a Key Management Priority © Ichigo Investment Advisors Co., Ltd. Ichigo Hotel REIT Investment Corporation All rights reserved. 16

  17. Slide 17: Asset Acquisitions via Sponsor Support

    August 2023 Initiatives Asset Acquisitions via Sponsor Support Acquired Assets: 5 Hotels/JPY 15B Comfort Hotel Osaka HOTEL Quintessa Hotel Quintessa Hotel THE KNOT Hotel Shinsaibashi THE KNOT Ise Shima Ogaki SAPPORO (Ichigo Shinsaibashi YOKOHAMA Building) Acquisition Date August 25, 2023 Acquisition

  18. Slide 18: Third-Party Share Allotment

    August 2023 Initiatives Third-Party Share Allotment Best Approach to Minimize Share Price Impact & Share Dilution & Maximize New Share Proceeds on Behalf of Ichigo Hotel Shareholders – Issuing shares at previous day’s closing price – no Ichigo Hotel share price impact – Issuing shares at no discount

  19. Slide 19: Significance of Initiatives

    August 2023 Initiatives Significance of Initiatives Leveraging Sponsor Support to Drive Growth & Participate in Japan’s Accelerating Hotel Market Recovery Dividend • Increasing January 2024 Dividend Growth Forecast (July 2023) JPY 2,134 ➡ Revised Forecast JPY 2,246 (+5.2%) Increased • Acquiring Asse

  20. Slide 20: Driving Dividend Growth

    August 2023 Initiatives Driving Dividend Growth – Impact of Acquisition on Jan 2024 Dividend: +JPY 112 (+5.2%) – Jan 2023 Period Had One-Off Rental Income due to Leases to Local Governments during Covid – Excluding These One-Offs, Jan 2024 Dividend +76.4% YOY – Expecting Further Growth on Lifting of

  21. Slide 21: Increased Geographical Diversification & Portfolio Stability

    August 2023 Initiatives Increased Geographical Diversification & Portfolio Stability As of July 31, 2023 Acquired Hotels As of August 25, 2023 No. Of Hotels 25 5 30 Acquisition Price JPY 54.7B JPY 15.0B JPY 69.8B Appraisal Value JPY 58.0B JPY 16.6B JPY 74.6 Total No. Of Rooms 3,989 747 4,736 JPY 383

  22. Slide 22: Ichigo's THE KNOT Hotel Brand (1)

    August 2023 Initiatives Ichigo’s THE KNOT Hotel Brand (1) Acquired 2 Ichigo Boutique Hotels “THE KNOT” HOTEL THE KNOT YOKOHAMA THE KNOT SAPPORO © Ichigo Investment Advisors Co., Ltd. Ichigo Hotel REIT Investment Corporation All rights reserved. 22

  23. Slide 23: Ichigo's THE KNOT Hotel Brand (2)

    August 2023 Initiatives Ichigo’s THE KNOT Hotel Brand (2) Restaurant & Bar at THE KNOT SMOKE DOOR LES BOIS Grill Restaurant Maximizing Potential of Ingredients THE KNOT SAPPORO Lounge Ichigo promotes the revitalization of communities and aims to expand THE KNOT hotel lineup. The hotels are rooted in

  24. Slide 24: Driving Value via Ichigo's Hotel Branding

    Organic Growth Driving Value via Ichigo’s Hotel Branding THE KNOT Boutique Hotels − Attracting locals in addition to hotel guests − Fostering ties with local communities, promoting culture, & creating comfortable spaces THE KNOT The OneFive: Hotel Brand Focused on Omotenashi (Japan’s Tradition of Ho

  25. Slide 25: Portfolio Growth Opportunity via Ichigo Sponsor Support

    External Growth Portfolio Growth Opportunity via Ichigo Sponsor Support Sponsor Owns 13 Hotels Across Japan, Mainly Lodging-Focused Hotels Sponsor-Owned Hotels By Area Chugoku/ Kanto Koshinetsu Tokyo Shikoku Book Value at No. Of Area Acquisition Hotels (JPY M) Kanto 2 5,331 Koshienetsu Tokyo 2 8,211

  26. Slide 26: Earnings Forecasts

    Earnings Forecasts © Ichigo Investment Advisors Co., Ltd. Ichigo Hotel REIT Investment Corporation All rights reserved. 26

  27. Slide 27: January 2024/July 2024 Forecast Assumptions

    January 2024/July 2024 Forecast Assumptions Assuming 30 Currently-Owned Hotels & No Rebranding/Re-tenanting Not Assuming Inbound Tourism Increase or Group Tourism Demand From China Assuming Drop Out of Demand From Japanese Government’s Domestic Travel Subsidy Program (Reference) January 2023 January

  28. Slide 28: January 2024 Forecast

    January 2024 Forecast No Change From Forecast Announced on August 16, 2023 (JPY million) Jan 2024 Jan 2023 vs. Forecast Revised Major Factors for Variation Actual (A) (B) - (A) Forecast (B) Increase in variable rent +421 (5 acquired hotels, Kurashiki, Nest Osaka Shinsaibashi, Operating Revenue 1,537

  29. Slide 29: July 2024 Forecast

    July 2024 Forecast Assuming End of Contract for Leasing Rooms to Local Governments & Drop Out of Demand From Government Travel Subsidy Program Dividend +JPY 137 Due to Acquisition of 5 Hotels (JPY million) Jul 2023 Jul 2024 vs. Forecast Major Factors for Variation Actual (A) Forecast (B) (B) - (A) (

  30. Slide 30: July 2024 Dividend

    July 2024 Dividend Conservative Forecast of Hotel Demand Growth Due to Drop Out of Demand From Japanese Government Travel Subsidy Program Conservative Forecast of Rental Expenses & Non-Operating Expenses Impact of 5 Newly Acquired Hotels on Dividend: +JPY 137 (+5.29%) Dividend +8 (JPY) -77 +18 -190

  31. Slide 31: Ichigo's Commitment to ESG

    Ichigo’s Commitment to ESG © Ichigo Investment Advisors Co., Ltd. Ichigo Hotel REIT Investment Corporation All rights reserved. 31

  32. Slide 32: Ichigo Sustainability Policy

    Ichigo Sustainability Policy Harmony With the Environment and Recycling Ichigo actively monitors and minimizes the environmental impact of its business operations via extending the useful life of its assets, reducing water and water consumption, and recycling. Addressing Climate Change and Shift to

  33. Slide 33: Ichigo Climate Positive: CO2 Reduction > Emissions

    Ichigo Climate Positive: CO2 Reduction > Emissions Ongoing Ichigo Clean Energy Production Growth & Renewable Energy Transition & Carbon Offsets CO2 Reduction vs. CO2 Emissions (tons) ■ Total Ichigo Power Plant CO2 Reduction1 ■ Total Ichigo CO2 Emissions (Scope 1+2) CO2 Emissions Reduction Measures I

  34. Slide 34: On Track Toward Achieving 2025 RE100 Target

    On Track Toward Achieving 2025 RE100 Target Ichigo RE100 Progress FY25/2 Target 100% FY23/2 Renewable Energy Transition Impact FY24/2 Target CO2 Reduction 35,000 tons p.a. 85% Renewable Energy CO2 Emissions Ratio of Cars (as of May 31, 2023) Renewable Energy × 15,200 cars p.a. 71 % Switch 49% 22% No

  35. Slide 35: Ichigo ESG – Environmental

    Ichigo ESG – Environmental Sustainability-Driven & Climate Positive Effective Use of Existing Real Estate Towards a Net Zero Carbon Society J-REIT Initiatives Preserve & Improve Real Estate Community-Based, Productive Use of Pro-Active Environmental to End Wasteful Demolition Idle Land for Clean Ene

  36. Slide 36: Ichigo ESG – Social

    Ichigo ESG – Social Contributing to a Sustainable Society Contributing to Regional Revitalization Ichigo University Sports Initiatives Ichigo works to revitalize local communities Ichigo established Ichigo University in May and promote regional economic 2013 to support employees’ continuing As a top

  37. Slide 37: Ichigo ESG – Governance

    Ichigo ESG – Governance Global Best Practice Governance No Fixed Fee, Best Practice Governance Performance Fee- Only Structure REIT Asset Management Company (AMC)  Shifted to performance-  Monitors Asset Management Company  Best Practice linked fee structure to • All Ichigo Hotel Directors are In

  38. Slide 38: Appendix: Portfolio Details

    Appendix: Portfolio Details © Ichigo Investment Advisors Co., Ltd. Ichigo Hotel REIT Investment Corporation All rights reserved. 38

  39. Slide 39: Portfolio Lease Details

    Portfolio Lease Details Operator Diversification Driving Earnings Stability (as of July 31, 2023) Lease Terms Fixed Rent Fixed + Variable Rent Variable Rent Total Form of Contract Lease Lease Lease Lease – Fixed Rent Yes Yes Yes – – Fixed Portion of Fixed Portion of Hotel Excess Above Fixed Variable

  40. Slide 40: Individual Hotel Summary

    Individual Hotel Summary (as of July 31, 2023) Jul 2023 Appraisal Unrealized Acquisition Book Value Hotel Leasable Area Value Gains Hotel Name Lease Terms Location Price (JPY M) No. (m2) (JPY M) Cap Rate (%) (JPY M) (JPY M) (A) (B) (B) - (A) A-1 Nest Hotel Sapporo Ekimae Variable + Fixed Rent Sappor

  41. Slide 41: July 2023 Fiscal Period Individual Hotel Operating Results

    July 2023 Fiscal Period Individual Hotel Operating Results (year-on-year) No. of July 2023 (February 2023 - July 2023) Hotel Hotel Name Lease Terms Location Guest No. RevPAR (JPY) Occupancy (%) ADR (JPY) Revenue (JPY M) Rooms A-1 Nest Hotel Sapporo Ekimae Variable + Fixed Rent Sapporo 162 10,861 (+1

  42. Slide 42: Individual Hotel Financials

    Individual Hotel Financials (JPY thousand) A-1 A-2 A-3 B-2 B-3 C-1 C-4 D-1 D-3 D-4 E-1 E-3 E-5 F-1 F-2 F-4 F-5 G-1 G-3 The Comfort The The The Total Nest Hotel Nest Hotel Comfort Hotel Smile Hotel Comfort Comfort Nest Hotel The Smile Hotel OneFive Hotel Central Smile Hotel OneFive Nest Hotel OneFive

  43. Slide 43: RevPAR, ADR, & Occupancy Recovery On Track

    RevPAR, ADR, & Occupancy Recovery On Track Hotel Earnings Recovering, RevPAR Exceeding Pre-Covid Levels Variable Rent Hotels (Jan 2020 – Jul 2023) ■ RevPAR ■ ADR Occupancy 88.7% 84.9% 83.1% 84.8% 8,359 69.4% 7,455 65.8% 6,948 51.2% 49.1% 6,674 6,325 5,917 5,183 5,080 4,447 4,435 4,579 4,401 2,919 3,

  44. Slide 44: Fixed/Variable Rent, RevPAR, ADR, & Occupancy Trends

    Fixed/Variable Rent, RevPAR, ADR, & Occupancy Trends Fixed/Variable Rent (JPY thousand) Jul 2022 Jan 2023 Jul 2023 Rent Ratio Rent Ratio Rent Ratio Fixed 940,896 75.4% 1,029,850 67.0% 1,021,552 56.9% Fixed Rent from Operators 911,701 73.0% 998,059 64.9% 992,218 55.2% Rent Other (Rent from Retail Ten

  45. Slide 45: Variable Rent Hotel Details

    Variable Rent Hotel Details A-1 Nest Hotel Sapporo Ekimae ADR RevPAR Occupancy Location Sapporo Operating Results (Aug 2022 – Jul 2023) (right) (right) (left) (JPY) 5-minute walk from 100% 20,000 Sapporo Station on Access Sapporo City Metro 80% 16,000 Namboku Line 60% 12,000 Nest Hotel Japan Operato

  46. Slide 46: Variable Rent Hotel Details

    Variable Rent Hotel Details B-1 Capsule Plus Yokohama Location Yokohama, Kanagawa 6-minute walk from Access Yokohama Station on JR/ Subway Line The hotel operator did not give consent to disclose data. Operator nine hours Inc. Guest Rooms 169 Acquisition JPY 1.49B Price B-2 Smile Hotel Nagano ADR Re

  47. Slide 47: Variable Rent Hotel Details

    Variable Rent Hotel Details C-1 Smile Hotel Tokyo Asagaya ADR RevPAR Occupancy Location Suginami-ku, Tokyo Operating Results (Aug 2022 – Jul 2023) (right) (right) (left) (JPY) 20,000 1-minute walk from 100% Access Asagaya Station on JR 16,000 80% Chuo and Sobu Lines 60% 12,000 K.K. Hospitality 40% 8

  48. Slide 48: Variable Rent Hotel Details

    Variable Rent Hotel Details D-2 Hotel Wing International Nagoya ADR RevPAR Occupancy Location Nagoya Operating Results (Aug 2022 – Jul 2023) (right) (right) (left) (JPY) 2-minute walk from 100% 10,000 Marunouchi Station on both Nagoya Subway Access 80% 8,000 Network Sakuradori Line and Tsurumai 60%

  49. Slide 49: Variable Rent Hotel Details

    Variable Rent Hotel Details E-3 The OneFive Osaka Sakaisuji Location Osaka ADR RevPAR Occupancy Operating Results (Aug 2022 – Jul 2023) (right) (right) (left) 5-minute walk from (JPY) Sakaisuji-Hommachi 100% 10,000 Access Station on Osaka Municipal Subway 80% 8,000 Chuo Line 60% 6,000 Operator OneFi

  50. Slide 50: Variable Rent Hotel Details

    Variable Rent Hotel Details E-5 Nest Hotel Osaka Shinsaibashi Location Osaka Operating Results (Aug 2022 – Jul 2023) ADR RevPAR Occupancy (right) (right) (left) (JPY) 1-minute walk from 100% 10,000 Nagahoribashi Station Access on Osaka Municipal 80% 8,000 Subway Sakaisuji Line 60% 6,000 Nest Hotel J

  51. Slide 51: Variable Rent Hotel Details

    Variable Rent Hotel Details F-2 Nest Hotel Matsuyama Location Matsuyama, Ehime ADR RevPAR Occupancy Operating Results (Aug 2022 – Jul 2023) (right) (right) (left) 25-minute drive from (JPY) Matsuyama Airport, 100% 7,500 3-minute walk from Access Katsuyamacho Station 80% 6,000 on Iyo Railway Jonan Li

  52. Slide 52: Variable Rent Hotel Details

    Variable Rent Hotel Details F-5 Valie Hotel Hiroshima Location Hiroshima Operating Results (Aug 2022 – Jan 2023) ADR RevPAR Occupancy (right) (right) (left) (JPY) 3-minute walk from 100% 10,000 Access Jogakuin-mae Station 80% 8,000 on Hiroden Tram Line 60% 6,000 Operator The Court Co., Ltd. 40% 4,00

  53. Slide 53: Variable Rent Hotel Details

    Variable Rent Hotel Details G-3 Nest Hotel Kumamoto ADR RevPAR Occupancy Location Kumamoto Operating Results (Aug 2022 – Jul 2023) (right) (left) (right) (JPY) 2-minute walk from 100% 10,000 Nishikarashimacho Access 80% 8,000 Station on Kumamoto City Tram Line 60% 6,000 Nest Hotel Japan 40% 4,000 Op

  54. Slide 54: Fixed Rent Hotel Details

    Fixed Rent Hotel Details A-3 Comfort Hotel Kushiro B-3 Hotel Sunshine Utsunomiya Location Kushiro, Hokkaido Location Utsunomiya, Tochigi 5-minute walk from 2-minute walk from Utsunomiya Station on Access Kushiro Station on JR Access JR Tohoku Main Line, Nemuro Main Line Tohoku Shinkansen Operator Gr

  55. Slide 55: Fixed Rent Hotel Details

    Fixed Rent Hotel Details D-3 Comfort Hotel Central International Airport D-4 Comfort Hotel Suzuka Location Tokoname, Aichi Location Suzuka, Mie 5-minute walk from Central International 3-minute walk from Airport, Access Shirako Station on Access 3-minute walk from Kintetsu Nagoya Line Central Intern

  56. Slide 56: Appendix: Loan Details & Shareholder Composition

    Appendix: Loan Details & Shareholder Composition © Ichigo Investment Advisors Co., Ltd. Ichigo Hotel REIT Investment Corporation All rights reserved. 56

  57. Slide 57: Stable Financial Base

    Stable Financial Base Outstanding Loan Balance Aug 25, 2023 Jul 31, 2021 Jan 31, 2022 Jul 31, 2022 Jan 31, 2023 Jul 31, 2023 (Reference) Amount JPY 25.47B JPY 25.47B JPY 25.47B JPY 25.47B JPY 25.47B JPY 32.47B Long-Term Loan Ratio 72.5% 72.5% 70.7% 63.7% 46.0% 57.7% Fixed Rate Ratio 70.7% 70.7% 70.7

  58. Slide 58: Loan Details

    Loan Details Loan Lender Amount Floating/ Interest Rate Borrowing Date Maturity (as of August 25, 2023) (JPY M) Fixed (%) SMBC, Mizuho, SBI Shinsei, Resona, Fukuoka, Term Loan 5 4,500 Fixed 0.98500% August 17, 2016 August 31, 2023 Nishi-Nippon City Lender Composition Term Loan 9 SMBC, Mizuho, SBI Sh

  59. Slide 59: Shareholder Composition

    Shareholder Composition Major Shareholders (as of July 31, 2023) By Number of Shares Held Foreign Corporations & Individuals Domestic Financial Institutions No. Of Name Share Non-Financial Domestic Corporations Domestic Individuals Shares The Master Trust Bank of Japan, 38,686 32,214 1 47,862 18.8%

  60. Slide 60: Appendix: Sponsor, Shareholder Alignment

    Appendix: Sponsor, Shareholder Alignment © Ichigo Investment Advisors Co., Ltd. Ichigo Hotel REIT Investment Corporation All rights reserved. 60

  61. Slide 61: Environmental Certifications

    Environmental Certifications Environmental Certifications Minimizing Environmental Impact of Ichigo Hotel-Owned Assets − The OneFive Tokyo Shibuya (BELS 4 Stars) − Joined GRESB Real Estate Assessment in 2021  Awarded 2 Stars in GRESB rating  Won Green Star designation for 2 consecutive years − Ene

  62. Slide 62: Increasing Stability Via Contract Renewals & Rebranding

    Increasing Stability Via Contract Renewals & Rebranding Timing Hotel Name Lease Terms Changes Variable+Fixed • Increased fixed rent Jun 2020 Smile Hotel Tokyo Asagaya Lease Renewal Rent • Revised variable rent The OneFive Okayama Fixed  • Operator change to OneFive Hotels Oct 2020 Variable+Fixed Re

  63. Slide 63: Hotel Map

    Hotel Map Hokkaido Kanto/Koshinetsu Tokyo Hokuriku/Tokai A-1 A-2 A-3 B-1 B-2 B-3 C-1 C-3 C-4 D-1 D-2 D-3 D-4 Nest Hotel Nest Hotel Comfort Capsule Plus Comfort Hotel Hotel Sunshine Smile Hotel Hotel Livemax The OneFive Comfort Hotel Hotel Wing Comfort Hotel Comfort Hotel Sapporo Ekimae Sapporo Odori

  64. Slide 64: Ichigo Hotel's Sponsor: Ichigo (2337)

    Ichigo Hotel’s Sponsor: Ichigo (2337) Core Businesses: Asset Management, Sustainable Real Estate, Clean Energy ‒ Manages Ichigo Hotel (3463), Ichigo Office (8975), and Ichigo Green (9282) ‒ Sustainable Real Estate business adds value to existing buildings by drawing upon its real estate technologies

  65. Slide 65: Synergies Between Ichigo Hotel and Sponsor

    Synergies Between Ichigo Hotel and Sponsor ‒ Strengthen acquisitions through leveraging Ichigo’s sourcing network ‒ Increase asset value through Ichigo’s real estate value-add capabilities ‒ Drive higher returns for Ichigo Hotel shareholders Ichigo Hotel (3463) Buy Sponsor: Ichigo (2337) Buy Buy Hot

  66. Slide 66: Acquisitions Leveraging Sponsor Support (OneFive Hotels)

    Acquisitions Leveraging Sponsor Support (OneFive Hotels) – Ichigo-Owned OneFive Hotels Operates 14 Hotels With Focus on the Hakata (Fukuoka) Area  Company name changed to OneFive Hotels on May 31, 2023 – OneFive Hotels Deploys PROPERA, an AI-Based Revenue Management System Developed by Ichigo, to M

  67. Slide 67: Ichigo Hotel Overview

    Ichigo Hotel Overview Ichigo Hotel Name Ichigo Hotel REIT Investment Corporation Securities Code 3463 Address 1-1-1 Uchisaiwaicho, Chiyoda-ku, Tokyo Executive Director Eriko Ishii Fiscal Periods January (August 1 - January 31) and July (February 1 - July 31) Asset Management Company Name Ichigo Inve

  68. Slide 68: Disclaimer

    Disclaimer These materials are for informational purposes only, and do not constitute or form a part of, and should not be construed as, an offer to sell or buy securities of Ichigo Hotel REIT Investment Corporation (Ichigo Hotel). These materials may contain forward-looking statements regarding the

Ichigo Hotel REIT Investment — July 2023 fiscal period Earnings Presentation on 6ix