Mirai's January Hotel Sales Rises 2%

MT Newswires Live02-25 18:38

Mirai's (TYO:3476) sales at its five Smile Hotels with variable rent rose 2% on year to 147 million yen in January, despite the occupancy rate slipping to 80% from 97% a year ago.

Average daily rate increased 4% to 7,535 yen, while revenue per available room (RevPAR) climbed 1% to 6,041 yen, according to a Wednesday filing on the Tokyo Stock Exchange.

Smile Hotel Osaka Tennoji faced ongoing headwinds from continued reductions in Chinese airline flights on China-Japan routes, the filing said.

Despite this, the full portfolio demonstrated strong performance with all five hotels achieving year-on-year growth in both RevPAR and sales.

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