Deterioration in hotel market conditions and weakness in the lodging business in the Kinki region

「Operating revenue increased by ¥20,633 million, or 14.5%, year on year to ¥163,014 million, and operating profit increased by ¥6,644 million, or 29.6%, to ¥29,080 million, due mainly to strong performance in the lodging division led by inbound demand.」

「In the hotel business, accommodation demand recovered, led by inbound tourism. In the rental business, properties including Osaka Umeda Twin Towers South performed steadily, while the overseas real estate business also expanded in scale. As a result, operating revenue increased by ¥20.904 billion, or 10.6%, year on year to ¥218.381 billion, and operating profit increased by ¥15.882 billion, or 81.5%, to ¥35.373 billion.」

「Supported by the recovery in lodging demand, particularly inbound demand, in the hotel business, the steady performance of properties including Osaka Umeda Twin Towers South in the leasing business, and the expansion of the overseas real estate business, operating revenue increased by ¥13,478 million, or 10.5%, year on year to ¥142,381 million, while operating profit increased by ¥10,841 million, or 93.5%, to ¥22,436 million.」

「Operating revenue increased by ¥8,752 million, or 14.4%, year on year to ¥69,593 million, and operating profit increased by ¥5,816 million, or 109.7%, to ¥11,116 million. The increases reflected the recovery in lodging demand, led by inbound demand, in the hotel business and solid performance at properties including Osaka Umeda Twin Towers South in the leasing business, among other factors.」

「Although the hotel business continued to be affected by COVID-19, the recovery in the number of lodging and food and beverage users and in rental income from commercial facilities along railway lines compared with the previous year, when some hotels and commercial facilities were temporarily closed following declarations of a state of emergency and other measures, resulted in operating revenue increasing by ¥35.238 billion, or 21.7%, year on year to ¥197.476 billion. Operating income increased by ¥6.261 billion, or 47.3%, to ¥19.490 billion.」

「Although the hotel business continued to be affected by COVID-19, the recovery in the number of lodging and food and beverage users compared with the previous year, when some hotels were temporarily closed following the declaration of a state of emergency, and the number of condominium units sold exceeding the previous year in the housing development business resulted in operating revenue increasing by ¥30.806 billion, or 31.4%, year on year to ¥128.902 billion. Operating income increased by ¥4.594 billion, or 65.6%, to ¥11.595 billion.」

「Compared with the previous year, when some hotels and commercial facilities were temporarily closed following declarations of a state of emergency and other measures, the recovery in the number of users in the lodging and food and beverage businesses and in rental income from commercial facilities along railway lines resulted in operating revenue increasing by ¥12.182 billion, or 25.0%, year on year to ¥60.841 billion. Operating income increased by ¥1.531 billion, or 40.7%, to ¥5.3 billion.」

「The current fiscal year was also affected by COVID-19. In addition to the temporary closure of some hotels, the number of users in both the lodging and food and beverage businesses was slow to recover, resulting in an extremely difficult operating environment.」

「Although the impact of COVID-19, including the temporary closure of some hotels following the declaration of a state of emergency, remained significant, the number of users in both the lodging and food and beverage businesses showed some recovery from the previous year, which was more severely affected. As a result, operating revenue increased by ¥3.792 billion year on year to ¥18.555 billion, while operating results improved by ¥4.275 billion, resulting in an operating loss of ¥9.305 billion.」

「Although the impact of COVID-19, including the temporary closure of some hotels following the declaration of a state of emergency, remained significant, the number of users in both the lodging and food and beverage businesses showed some recovery from the previous year, which was more severely affected. As a result, operating revenue increased by ¥2.234 billion year on year to ¥9.188 billion, while operating results improved by ¥3.060 billion, resulting in an operating loss of ¥6.945 billion.」

「Although the impact of COVID-19, including the temporary closure of some hotels following the declaration of a state of emergency, remained significant, the number of users in both the lodging and food and beverage businesses showed some recovery from the previous year, which was more severely affected. As a result, operating revenue increased by ¥1.798 billion year on year to ¥3.941 billion, while operating results improved by ¥1.575 billion, resulting in an operating loss of ¥3.621 billion.」

「The hotel business remained in an extremely difficult operating environment due to the impact of COVID-19, including the temporary closure of some hotels and a substantial decline in the number of users in both the lodging and food and beverage businesses throughout the period.」

「In addition to the temporary closure of some hotels due to the impact of COVID-19, a significant decline in the number of users in both the lodging and food and beverage businesses caused operating revenue to decline by ¥33.949 billion, or 69.7%, year on year to ¥14.762 billion. Operating results deteriorated by ¥13.998 billion year on year, resulting in an operating loss of ¥13.580 billion.」

「In addition to the temporary closure of some hotels due to the impact of COVID-19, a significant decline in the number of users in both the lodging and food and beverage businesses caused operating revenue to decline by ¥24.333 billion, or 77.8%, year on year to ¥6.953 billion. Operating results deteriorated by ¥9.964 billion year on year, resulting in an operating loss of ¥10.005 billion.」

「In addition to the temporary closure of some hotels due to the impact of COVID-19, a significant decline in the number of users in both the lodging and food and beverage businesses caused operating revenue to decline by ¥14.090 billion, or 86.8%, year on year to ¥2.142 billion. Operating results deteriorated by ¥5.488 billion year on year, resulting in an operating loss of ¥5.196 billion.」

「Operating income declined by ¥945 million, or 69.3%, year on year to ¥417 million, due mainly to higher expenses associated with the opening of new hotels, difficult hotel market conditions in the Kinki region and weak performance in the lodging business.」