Reassessing demand for Tohoku hotels after reconstruction work and considering relocation
First written in FY2020. 3 of 8 entries say "Restated". Latest entry: FY2024.
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- FY2024RestatedAnnual report
「Tohoku Business Hotel, operated in the Group’s accommodation segment, is being converted into stable revenue again by taking advantage of its relocatable design, including reuse as high school dormitories and transfer to companies for their own use.」
Following the suspension of operations at the Tohoku hotels, the Company reconfirms its policy and results of generating stable revenue through reuse and transfers to companies. - FY2024-Q3RestatedAnnual report
「In addition, the transfer of 3 hotels in Iwate Prefecture held in the real estate leasing business has been completed.」
For the Tohoku hotels, the Company reconfirms the result of reusing and converting them into revenue through the completed transfer of the 3 hotels it held in Iwate Prefecture. - FY2024-Q1AchievedAnnual report
「In addition, the transfer of 3 hotels in Iwate Prefecture that had been held in the real estate leasing business has been completed.」
For the Tohoku hotels, the transfer of the 3 properties held in Iwate Prefecture has been completed. Of the measures to convert them into revenue through relocation, reuse and transfer, the specific transfer measure has been completed. - FY2023AdvancedAnnual report
「In addition, the Tohoku business hotel operated in the accommodation segment of the real estate leasing business has achieved a certain level of contribution to the reconstruction support originally envisaged. Taking advantage of its relocatable design, the company has restored it to a source of stable income by reusing it as a high-school dormitory and transferring it to companies for their own use.」
Regarding the suspension of operations and reuse policy for the Tohoku hotels, the Company has implemented and explained their reuse as high school dormitories and transfer to companies to generate stable revenue. It invested ¥213.139 million in capital expenditures, including the establishment of the Minamisanriku Town high school dormitory. - FY2022Suspension of hotel operations and conversion to offices and other usesAnnual report
「Operations at the 3 business hotels in Iwate Prefecture have currently been suspended, and the Company is considering their next use. Because the modular construction method allows them to be relocated, the Company will consider flexible options, including selling or leasing them.」
The Company suspended hotel operations at 3 facilities in Iwate Prefecture and is considering their reuse through relocation, sale, leasing, conversion and other measures. IRoom Minamisanriku was converted into leased office space in December 2021. - FY2022-Q3Temporary suspension of operations while considering relocationAnnual report
「However, the Company is considering converting certain properties in the accommodation segment into more profitable operations through relocation and has temporarily suspended their operations.」
The Company is considering relocating accommodation properties to convert them to more profitable operations, and has temporarily suspended operations at some properties in the process. - FY2021RestatedAnnual report
「Tohoku Business Hotel, operated in the accommodation segment of the real estate leasing business, can be relocated. The Company will pursue revenue growth flexibly, including by relocating it to areas with greater revenue potential than its current location.」
The Company continues to pursue a flexible response policy for the Tohoku hotel, including reanalyzing demand after the completion of reconstruction work and relocating it to an area with greater revenue potential. - FY2020First statedAnnual report
「The Company will reanalyze accommodation demand after the completion of reconstruction work and seek to capture demand again. It also uses a modular construction method, which allows the facilities to be moved, and will consider changing the hotel’s location.」
Anticipating the end of reconstruction work, which has been the traditional source of demand for the Tohoku hotel, the Company has identified demand reanalysis, renewed demand capture and relocation as new response measures.