Ichigo Hotel REIT Investment Corporation announced its results for the 22nd fiscal period, reporting an actual distribution of ¥3,761 per unit. The period-end portfolio comprised 29 properties, with an asset scale of ¥71.7 billion and an interest-bearing debt ratio of 47.0%.
The 22nd fiscal period results revealed that Hotel LiVEMAX Nihombashi-Hakozaki had been sold, while variable rents at several properties affected by closures and renovations declined year on year. This increased gains on property sales, but operating performance during the period slowed as rental revenue fell.
The distribution was ¥3,761 per unit, and toward the end of the period the portfolio was adjusted against the backdrop of gains on sales in the 22nd fiscal period in an effort to stabilize it. The period-end portfolio was reported to comprise 29 properties, with an asset scale of ¥71.7 billion and an interest-bearing debt ratio of 47.0%.
For the 23rd fiscal period (fiscal year ending January 2027), profit is expected to decline 17.8% from the previous period as gains on property sales recorded in the previous period disappear, two property closures have an impact, and interest expenses increase. The distribution is expected to be ¥3,091 per unit.
For the 24th fiscal period (fiscal year ending July 2027), profit is expected to increase 0.3% from the previous period's forecast following the reopening of two properties after renovations, with the distribution expected to be ¥3,101 per unit.