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Message from the Executive Director

Hoshino Resorts REIT, Inc. (HRR) was publicly listed in 2013 as one of the smallest listed real estate investment trusts (REIT) in the world. Our innovative approach includes being the first REIT to include traditional wooden Ryokans (Japanese-style inns). Since then, we have steadily achieved enhancing unitholder value by increasing our asset scale by approximately 10 times from the time of listing, and our distributions have approximately doubled compared to the second period after our public listing. Looking forward, we aim to achieve further growth by establishing a cycle of increasingly robust competitiveness at Hoshino Resorts.

The 12th fiscal period ended on April 30, 2019, and I will briefly report HRR’s status of management and financial results for the period.
In the 12th fiscal period, 9,250 million yen was procured from debt financing on March 29, 2019, and this was allocated to part of the funds for and expenses related to the acquisition of KAI Alps, Hotel Nirakanai Iriomotejima and HOTEL NIKKO KOCHI ASAHI ROYAL.
As a result of the steady management of the 59 portfolio properties, operating revenue was 5,924 million yen, operating profit was 3,243 million yen, ordinary profit was 2,870 million yen, and profit was 2,878 million yen. Based on these results, HRR decided on a distribution to unitholders of 12,974 yen per investment unit.
For the 13th fiscal period ending on October 31, 2019, HRR forecasts operating revenue of 6,086 million yen and distributions per unit of 13,110 yen. Furthermore, for the 14th fiscal period ending on April 30, 2020, HRR forecasts operating revenue of 6,063 million yen and distributions per unit of 13,230 yen.

Looking ahead, HRR will continue to pursue stable financial management, aiming to grow its asset scale to achieve robust portfolio expansion and contribute to the tourism industry. We hope for your continued support and encouragement.

執行役員 Kenji Akimoto
Executive Director
Hoshino Resorts REIT, Inc.
President & CEO
Hoshino Resort Asset Management Co., Ltd.
Kenji Akimoto