Impact of Declining Hotel Revenue on Operating Fees Under a Fully Performance-Based Compensation System
First written in FY2021-Q1. 4 of 11 entries say "Mitigated", first in FY2024-Q1. Latest entry: FY2024.
0 other companies' latest entry also says "Mitigated".
- FY2024MitigatedAnnual report
「Rising demand for lodging has also led to higher revenue at the hotels held by Ichigo Hotel. Accordingly, the company’s asset management fees, under a fully performance-based fee structure that aligns the interests of unitholders and the asset management company, increased.」
Regarding the risk of management fees declining in line with lower hotel revenue, the disclosure states that management fees increased as lodging demand and hotel revenue recovered. - FY2024-Q3MitigatedAnnual report
「Rising demand for lodging has also led to higher revenue at the hotels held by Ichigo Hotel. Accordingly, the company’s asset management fees, under a fully performance-based fee structure that aligns the interests of unitholders and the asset management company, have also increased.」
As hotel revenue recovered, our management fees under the fully performance-based fee structure increased, mitigating the impact of declining hotel revenue on fees. - FY2024-Q2MitigatedAnnual report
「Rising demand for lodging has also led to higher revenue at the hotels held by Ichigo Hotel. Accordingly, the company’s asset management fees, under a fully performance-based fee structure that aligns the interests of unitholders and the asset management company, have also increased.」
Regarding the risk of lower management fees due to declining hotel revenue, the disclosure states that management fees increased as lodging demand and revenue recovered. - FY2024-Q1MitigatedAnnual report
「At Ichigo Hotel, as at the company, strong recovery in demand for lodging has resulted in revenue exceeding the level for the same month in 2019, before the impact of COVID-19. Accordingly, the company’s asset management fees, which are based on a fully performance-based fee structure, have also recovered.」
The disclosure states that management fees linked to hotel revenue recovered as lodging demand recovered and revenue increased compared with the same month in 2019. - FY2023-Q2Base management fees have not recovered, but August RevPAR is at a post-COVID-19 highAnnual report
「As the full recovery of hotel demand has not yet been achieved, following the introduction of a fully performance-based fee structure, our base management fees linked to the hotel revenue of the hotels held by いちごホテル have not returned to pre-COVID-19 levels. However, occupancy rates and revenue are on a recovery trend, and based on the results for August this year, RevPAR is at its highest level since the spread of COVID-19 began.」
While base management fees linked to hotel revenue have not returned to pre-COVID-19 levels, occupancy rates and revenue are on a recovery trend, and August RevPAR was the highest since the spread of COVID-19 began. - FY2023-Q1Base management fees have not recovered, but RevPAR is at a post-COVID-19 highAnnual report
「At いちごホテル, the full recovery of hotel demand has not yet been achieved, and following the introduction of a fully performance-based fee structure, our base management fees linked to hotel revenue have not returned to pre-COVID-19 levels. However, occupancy rates and revenue are on a recovery trend, and based on the results for May this year, RevPAR is at its highest level since the spread of COVID-19 began.」
While base management fees linked to hotel revenue have not returned to pre-COVID-19 levels, occupancy rates and revenue are on a recovery trend, and May RevPAR was the highest since the spread of COVID-19 began. - FY2022-Q3RestatedAnnual report
「Accordingly, if the rent received by each investment corporation declines because variable rent linked to hotel operators' revenue is not generated due to the spread of COVID-19 or other factors, our base management fees may decline. In the third quarter under review, いちごホテル's base management fees had declined in line with lower hotel revenue compared with pre-COVID-19 levels, leaving them almost unchanged year on year.」
The disclosure states that, under a fully performance-based fee structure, いちごホテル's base management fees declined in line with lower hotel revenue, falling below pre-COVID-19 levels and remaining almost unchanged year on year. - FY2022-Q2RestatedAnnual report
「In the second quarter under review, いちごホテル's base management fees declined in line with the decrease in hotel revenue, leaving them almost unchanged year on year.」
The disclosure continues to describe the situation in which base management fees decline in line with lower hotel revenue under a fully performance-based fee structure. - FY2022-Q1MaterialisedAnnual report
「In the first quarter under review, いちごホテル's base management fees declined in line with the decrease in hotel revenue, leaving them almost unchanged year on year.」
The disclosure states that いちごホテル's base management fees actually declined in line with the decrease in hotel revenue. - FY2021-Q2RestatedAnnual report
「Accordingly, if variable rent linked to hotel operators' revenue is not generated due to the spread of COVID-19 or other factors, resulting in a decline in the rent received by いちごホテル, our base management fees may decline.」
The disclosure continues to state that, under a fully performance-based fee structure, a decline in hotel operators' revenue and variable rent poses a risk of reducing our base management fees. - FY2021-Q1First statedAnnual report
「Accordingly, if variable rent linked to hotel operators' revenue is not generated due to the spread of COVID-19 or other factors, resulting in a decline in the rent received by いちごホテル, our base management fees may decline.」
The disclosure newly specifies that, under a fully performance-based fee structure, our base management fees may decline if COVID-19 reduces hotel operators' revenue and variable rent.