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FINWIRES

Hoshino Resorts REIT Reports Lower April Occupancy, RevPAR

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Hoshino Resorts REIT (TYO:3287) said portfolio occupancy fell 1.6 percentage points to 79.3% in April from a year earlier, while average daily rate climbed 0.3% to 21,583 yen and RevPAR decreased 1.7% to 17,121 yen, according to a Wednesday filing on the Tokyo Stock Exchange.

The company said its net sales declined 2.6% to 5.57 billion yen. For properties operated by Hoshino Resorts, occupancy slipped to 75.3% from 80.5% a year earlier, while ADR rose 5.4%, RevPAR fell 1.5%, and sales declined 3.4%.

Properties operated by third-party operators posted a decline in occupancy, ADR, RevPAR, and sales compared with the same month a year earlier.

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