Kasumigaseki Hotel REIT's February Occupancy Rate Surges to Over 76%

MT Newswires Live04-08 23:35

Kasumigaseki Hotel REIT's (TYO:401A) February occupancy rate for its properties surged nearly 21 points to more than 76%, according to a Tokyo bourse filing on Wednesday.

Revenue Per Available Room (RevPAR) rose to 19,357 yen from 14,071 yen a year ago, while average daily rate (ADR) increased to 25,296 yen from 25,186 yen.

Revenue from the 11 properties climbed 66 million yen to 246 million yen from 180 million yen the prior year.

The REIT also saw a record-high 3.46 million international visitors to Japan during the month under review.

Although visitors from China fell 45.2% due to government travel restrictions, strong increases from South Korea and Taiwan helped drive performance.

Properties with high inbound guest ratios, including fav HAKODATE and fav TOKYO NISHINIPPORI, achieved higher room rates during the Lunar New Year period, while fav KUMAMOTO benefited from weekend event demand.

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