Launch of a Private-Lodging-Style Hotel Business
First written in FY2017. 4 of 6 entries say "Advanced", first in FY2018-Q1. Latest entry: FY2020-Q2.
1 other company's latest entry also says "Dropped".
- FY2020-Q2DroppedAnnual report
「In the vacation-rental hotel business operated by our company, procedures for discontinuation were initiated on 28 February 2020.」
For the vacation-rental hotel business, which had progressed to operating all 5 hotels, the initiation of discontinuation procedures was disclosed. The discontinuation was at the procedure-initiation stage; completion was not stated. - FY2018AdvancedAnnual report
「All 5 vacation-rental hotels are currently operating.」
The business progressed from 3 operating hotels and 2 under preparation to all 5 hotels operating. - FY2018-Q3AdvancedAnnual report
「In the operation of the vacation-rental hotels, 3 hotels are currently operating, and preparations are under way to open 2 more.」
The business progressed from 1 operating hotel and 4 unopened hotels to 3 operating hotels and 2 under preparation. - FY2018-Q2AdvancedAnnual report
「We have launched a vacation-rental hotel business by converting newly built condominiums into hotels, viewing the shortage of domestic accommodation resulting from the increase in foreign tourists as an opportunity. The use of IoT equipment and systems reduces costs such as labour expenses, resulting in a highly profitable model. In addition to the special provisions of the Hotel Business Act under the National Strategic Special Zones Act, we also decided to launch a vacation-rental hotel business in accordance with the ordinary Hotel Business Act. During the consolidated cumulative second quarter period, only 1 hotel, which opened in January, was operating, while the other 4 hotels had not opened as of the end of the second quarter accounting period. Although the business recorded an operating loss because interior work and security deposits for each hotel were incurred as initial investments, the occupancy rate and average room rate of the operating hotel were generally in line with the initial assumptions.」
The vacation-rental hotel business progressed to the operating stage with 1 hotel, and occupancy and average room rates were generally in line with the initial assumptions. Meanwhile, 4 hotels had not opened as of the quarter-end, and the hotel business recorded an operating loss. Cost reductions through IoT use and the launch of a business under the ordinary Hotel Business Act were also added. - FY2018-Q1AdvancedAnnual report
「We have announced the launch of a vacation-rental hotel business, viewing the shortage of domestic accommodation resulting from the increase in foreign tourists as an opportunity and using the special provisions of the Hotel Business Act under the National Strategic Special Zones Act. Rather than constructing hotels from scratch, the model involves leasing an entire newly built condominium building and operating it as a hotel. Compared with a conventional hotel business, this substantially reduces initial investment and allows operations to begin after a shorter preparation period, enabling earlier recovery of the investment.」
For the vacation-rental hotel business, the company established a model under which it leases and operates all units in a newly built condominium building, with reduced initial investment, a short preparation period and early investment recovery. Property contracts progressed during the quarter, operations were scheduled to begin in January 2018, and no revenue was generated during the quarter. - FY2017First statedAnnual report
「As part of our investment in new businesses, we will launch a vacation-rental hotel business from the next fiscal year onward, converting existing condominiums for operation as hotels.」
The company plans to launch a vacation-rental hotel business using converted existing condominiums from the next fiscal year onward.