-- Hoshino Resorts REIT (TYO:3287) said its portfolio revenue per available room rose 10.5% in February, supported by strong inbound travel demand, according to a Monday filing on the Tokyo Stock Exchange.
Average daily rate increased 8.6% from a year earlier, while occupancy rose 1.4 percentage points, the company said. Net sales climbed 8.3% to about 4.9 billion yen.
The rise in inbound demand was driven in part by the timing of the Lunar New Year holiday, which fell in mid-February this year, boosting accommodation demand across the portfolio.
While travel advisories from China continued to weigh on some locations, the impact was largely offset by increased visitors from Taiwan and South Korea, the company said.