The same building,
a different return.
What an accommodation asset earns depends less on the building than on how it is operated. Zoning, permitted use, the licence you can actually obtain — we build the operating structure around those constraints, then run it.
Inbound demand vanished. Occupancy came back to 96%.
In 2020 Japan closed its borders and occupancy at our properties fell to 14%. Without acquiring any new licence, we shifted the guest segment we targeted, rebuilt the distribution mix and repriced the inventory. By that autumn occupancy was back above 85%, and in May 2021 it reached 96% — with essentially no international travellers in the country.
Monthly occupancy at properties under our operation. Actual figures.
Design sets the ceiling. Operation decides where you land.
Operating format, room mix and initial capital expenditure define what a property can earn. How much of that you actually capture is decided every day thereafter.
Three formats, all run in-house
Hotels under the Hotel Business Act, licensed short-term rentals under the Housing Accommodation Business Act, and monthly-stay apartments. We have operated all three as principal, not as an intermediary. Operators limited to a single format can only apply that format; we can compare them against the building's zoning, its obtainable licence and the local rate environment before anything is built.
Fixed rent, or the upside
We work under either a master lease or a management contract. Take a fixed monthly rent and leave the operating risk with us, or retain the revenue and pay us a fee. We discuss the structure itself before we discuss terms.
Smaller assets are harder, not easier
A twenty-room property still needs guest handling, housekeeping procurement and regulatory filings. The workload does not scale down with the revenue, so fixed cost per room rises and the large operators decline the mandate. We built our operating model around that difficulty. Larger assets are equally welcome.
Automation already in production
Cloud PMS, smart locks, online check-in. None of this is under evaluation — it runs today at a 41-room hotel in Chuo-ku, Tokyo. The smaller the property, the higher the labour ratio, and the larger the gain from removing manual work.
Nothing lands on the owner's desk
Payroll, employment, contracts, accounting, IT and vendor management are handled entirely in-house. Under a master lease your involvement is effectively nil. Under a management contract you review the numbers periodically; you are not drawn into day-to-day decisions.
since 2014
monthly stay — all as principal
with borders still closed
Built per property, not from a template.
We do not apply a standard package. The operating plan follows the building's constraints and the market it sits in.
Contract structure
Fixed rent under a master lease, or performance-linked under a management contract. We propose the structure that fits your objective and the asset.
Revenue management
Demand forecasting from market data with dynamic pricing, targeting the best available combination of occupancy and average rate.
Lean operations
Digital check-in and smart locks allow staffing to be matched to actual need, holding operating cost down without degrading the guest experience.
Tell us about the property.
We work under both master lease and management contract structures. Early-stage enquiries are welcome.
We reply within three business days, in English or Japanese.