5 stories mentioning TYO:8985Updated 14d ago
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Japan Hotel REIT Investment (TYO:8985) said the 2026 Kumamoto earthquake in Japan on Tuesday caused minor damage to its Dormy Inn Kumamoto hotel, according to a Wednesday release.The REIT said no injuries to the guests were reported and no material impact has been identified across the rest of its property portfolio.Minor damage was confirmed on parts of the exterior and interior of the hotel.
Japan Hotel REIT Investment (TYO:8985) said its 29 hotels generated total revenue of 6.05 billion yen in June, down 0.6% from a year earlier.Hotel occupancy reached 81.2% in June, up 0.1% year over year, according to a Tokyo bourse filing on Friday.The average daily rate gained 1.6% to 18,509 yen, while revenue per available room rose 1.7% to 15,023 yen.
Private equity firm TPG Angelo Gordon is negotiating the sale of the Grand Nikko Tokyo Daiba hotel to Japan Hotel REIT Investment (TYO:8985) for 140 billion yen, Bloomberg News reported on Wednesday.The deal, if finalized by month-end, would surpass the previous domestic REIT record of 126 billion yen set in March, the news wire said.The asset was purchased for about 100 billion yen in 2024, though the transaction remains unconfirmed and could still collapse, the publication said.TPG declined to comment to.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Japan Hotel REIT (TYO:8985) has raised its net income forecast for the year ending Dec. 31 to 51.9 billion yen from 27.9 billion yen previously, following a gain on property disposal.Dividend per unit estimates were lifted to 5,580 yen from the previous forecast of 5,177 yen, while operating revenue projections were increased to 75.1 billion yen from nearly 51 billion yen initially, according to a bourse filing on Friday.The upward revision is primarily driven by a 24.1 billion yen gain on the sale of The Beach Tower Okinawa, according to a separate disclosure on the same day.Of the gains, 19.2 billion yen will be retained as a reserve for special tax treatment for replacement property and 4.8 billion yen to be distributed to unitholders.At the same time, the REIT is also acquiring Candeo Hotels Osaka Namba for 14.3 billion yen, the filing read.
Japan Hotel REIT Investment (TYO:8985) said its 29 hotels generated total revenue of 7.24 billion yen in May, up 8.1% from a year earlier, according to a Tokyo bourse filing on Thursday.Hotel occupancy reached 84% in May, up 1.2% year over year.The average daily rate gained 6.6% to 21,395 yen, while revenue per available room (RevPAR) rose 7.9% to 17,961 yen.The REIT expects inbound demand from countries other than China to offset the decline from that market, supporting solid year-on-year RevPAR growth from February onward.
