Hoshino Resorts REIT Reports Higher Occupancy, RevPAR in October

MT Newswires Live12-09

Hoshino Resorts REIT (TYO:3287) said portfolio occupancy rose 5.1% in October from a year earlier to 85.8%, thanks to extended holidays overseas and strong inbound demand.

Average daily rate climbed 9.4% to 22,771 yen and revenue per available room (RevPAR) increased 15% to 19,532 yen during the month under review, according to its Tokyo bourse filing on Tuesday.

The strong performance of hotels, particularly in the Kansai region, is due to the increase in demand owing to the Osaka-Kansai World.

Demand for accommodations rebounded as the initial downturn in bookings-triggered by disaster-related reports-dissipated.

This recovery was bolstered by strong leisure demand at Hoshino Resort's KAI properties in Kyushu, where favorable weather conditions drove guest interest.

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