Ichigo Hotel REIT’s Transition to a Fully Performance-Based Fee Structure
First written in FY2019-Q3. 4 of 9 entries say "Advanced", first in FY2024-Q2. Latest entry: FY2027-H1.
No other company in this theme has enough history to compare yet.
- FY2027-H1AdvancedAnnual report
「Flow revenue increased 148% year on year as a result of receiving performance fees from the sale of Ichigo Office. Consequently, business profit in the asset management business increased 66% year on year.」
The company received performance fees from the sale of Ichigo Office as a result of management fees linked to unitholder value, increasing business profit in the asset management business by 66%. - FY2026AdvancedAnnual report
「In addition, at Ichigo Hotel, base asset management fees have increased substantially against a backdrop of expanding demand for lodging.」
Against a backdrop of expanding demand for lodging at Ichigo Hotel, base asset management fees related to the fully performance-based fee structure increased substantially. - FY2025-Q1RestatedAnnual report
「At Ichigo Hotel, in addition to higher revenue resulting from sustained growth in demand for lodging, 5 hotels, including “THE KNOT,” a lifestyle hotel under the Ichigo brand provided by the company in the previous fiscal year as sponsor support, contributed to higher revenue. 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, also increased.」
The company’s asset management fees under the fully performance-based fee structure increased along with higher lodging demand and hotel revenue at Ichigo Hotel. - FY2024AdvancedAnnual 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.」
The company states that its asset management fees increased as hotel revenue rose under the fully performance-based fee structure. - FY2024-Q2AdvancedAnnual 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.」
The company’s asset management fees under the fully performance-based fee structure increased along with the recovery in lodging demand and revenue at Ichigo Hotel. - FY2024-Q1RestatedAnnual 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 company states that, while continuing to use Ichigo Hotel’s fully performance-based fee structure, its asset management fees have recovered along with the recovery in lodging demand and revenue. - FY2023-Q3RaisedAnnual report
「Ichigo Office and Ichigo Hotel, which are managed by the company, use the only fully performance-based fee structure among Japanese REITs, fully aligning the interests of unitholders and the company. By managing the properties from the unitholders’ perspective, the company also receives performance-based fees.」
The company has expressly added Ichigo Office to Ichigo Hotel, which had previously been identified, as a vehicle covered by the fully performance-based fee structure. - FY2021-Q1RestatedAnnual report
「Ichigo Hotel has introduced a fully performance-based asset management fee structure that is linked to unitholder value and promotes active management, the only such structure in the Japanese REIT market.」
Ichigo Hotel continues to use a fully performance-based fee structure linked to unitholder value. - FY2019-Q3First statedAnnual report
「During the current third quarter, Ichigo Hotel REIT Investment Corporation (securities code 3463) transitioned its asset management fees to a fully performance-based fee structure, the first of its kind among Japanese REITs, linked to increases in unitholder value.」
The company has for the first time expressly stated that Ichigo Hotel’s asset management fees have been changed to the first fully performance-based fee structure among Japanese REITs, linked to increases in unitholder value.