Polaris Holdings' August Domestic Hotels RevPAR Drops 5.3%
MT Newswires Live13:05
Polaris Holdings' (TYO:3010) August revenue per available room (RevPAR) at its 68 domestic hotels dropped 5.3% year over year to 10,611 yen, according to a Tokyo bourse filing on Sunday.
Occupancy rate fell to 89.3% while average daily rate dropped 2.9% to 11,885 yen.
The inbound guest ratio also slowed down to 44.3%.
Inbound visits to Japan decreased 9.6% to 3.099 million in August, driven by a marked decline in Chinese visitors, the hotel operator cited data from the Japan National Tourism Organization as saying.
The company tallied four new hotel contract activities, involving 437 rooms, for the month, bringing the total to 14 hotels or 1,747 rooms for the fiscal year ending March 2027.
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