Ichigo Hotel REIT Announces Change In Hotel Property's Operator

Ichigo Hotel REIT Announces Change In Hotel Property’s Operator

March 16, 2020 — Ichigo Hotel REIT announced that its asset manager decided to appoint a new hotel operator for the Comfort Hotel Okayama.

The hotel’s operations is being given to Hakata Hotels Inc., which was formerly under Greens Co., Ltd.

As part of the hotel operator change, the Comfort Hotel Okayama will be rebranded as The OneFive Okayama (provisional name).

Hakata Hotels was chosen from among several candidate operators based on its competitive price offering.

Under the new contract, The OneFive Okayama’s fixed rent (minimum guaranteed rent) will increase significantly, while the introduction of a variable rent component will increase the upside potential for revenue growth.

As the new hotel operator, Hakata Hotels will deploy PROPERA, an AI-based revenue management system developed by Ichigo, to maximize earnings and increase guest satisfaction.

Ichigo Hotel REIT Acquires Washington Hotel Plaza Shimonoseki Eki Nishi

Ichigo Hotel REIT Buys Hotel Emit Shibuya For 3.7 B Yen (US$34.12 M)