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We will now provide an explanation on our future main hotel and healthcare facility projects and on operating ratios at Tokyu Stay.
The upper column contains an introduction of our hotel business. The “TOKYU Harvest Club Kyoto Higashiyama In THE HOTEL HIGASHIYAMA” is the first “In”-type hotel under this business, The “In” model consists of rendering part of a hotel operated by another company into a members-only resort.
Under the TOKYU Harvest Club business, while we mostly engaged in in-house development up to this point, this property uses some of the guest rooms of a selected hotel run by another operator as a members-only resort. This makes it possible to develop this business with reduced financing. Note that even in the current COVID-19 pandemic, sales of resort memberships have been brisk, with sales of those at the TOKYU Harvest Club VIALA Kinugawa Keisui progressing on a steady note.
Movements in operating ratios at Tokyu Stay are shown in the bottom-right. Conventionally, operating ratios hover around 90%. However, after bottoming out in the first quarter of the previous fiscal year, which was when the impact of COVID-19 was at its highest, rates have entered a moderate recovery trend, reaching 76.8% in December 2021. The return of inbound demand is awaited for operating ratios to recover to preexisting levels. However, it is believed that will require some time.
We will continue to focus on the reinforcement of initiatives for domestic demand through differentiating our products as well as on the improvement of operational efficiency and cost structure reforms.
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