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Hotel-only J-REIT owning properties leased to hotel operators nationwide, sponsored by Mizuho Trust/Hulic.
Hotel-only J-REIT owning properties leased to hotel operators nationwide, sponsored by Mizuho Trust/Hulic.
Most hotels are leased to operators on rents that have a fixed part and a variable part tied to the hotel's revenue or profit, so it gains in busy periods while keeping a base of fixed rent. It distributes most income to unitholders and is managed externally.
In one line: A Japan-focused hotel REIT like Host Hotels & Resorts.
Moat: narrow (regulatory licence, scale). Largest hotel-dedicated J-REIT, giving scale in sourcing and negotiating operator leases.
Headquarters: Tokyo, Japan · Founded: 2001
Size Japan Hotel Reit Investment (8985.T) is a Japan Real Estate company (Real Estate Investment Trusts) with a market value of $3.14B, the 350th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥83,300 on 6 Nov 2026.
Performance Over six months the shares gained 6.5%, against -3.6% for the median peer and +1.8% for the Japan market (cap-weighted) — 6th highest of 21 in its peer set.
Growth Revenue grew 14.9% over the last twelve months (peer median +5.1%); the operating margin is 67.0% (peer median 48.7%).
Valuation It trades at 9.4× forward earnings against a peer median of 19.2× (cheapest of 20).
Next results Next results expected around 25 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥46.7B | ¥45.6B | ¥33.5B | ¥26.6B | ¥14.9B |
| Revenue growth | — | +36% | +26% | +78% | — |
| Gross profit | ¥31.5B | ¥31.5B | ¥21.2B | ¥15.4B | ¥4.56B |
| EBITDA | ¥38.7B | ¥38.0B | ¥26.6B | ¥20.2B | ¥9.16B |
| Net income | ¥26.2B | ¥27.1B | ¥18.3B | ¥13.1B | ¥2.67B |
| Free cash flow | -¥104B | -¥38.8B | -¥42.4B | -¥20.8B | ¥1.46B |
| Capital expenditure | ¥137B | ¥72.6B | ¥65.3B | ¥38.6B | ¥3.92B |
| Total debt | n/a | ¥269B | ¥205B | ¥175B | ¥164B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Japan Hotel Reit Investment 8985.T | $3.14B | +7% | +15% | 67% | 9.4× | n/a |
| Invincible Investment 8963.T | $2.94B | -1% | +10% | 57% | 15.3× | n/a |
| Mitsui Fudosan Accommodations Fund 3226.T | $1.75B | -16% | +18% | 47% | 21.6× | n/a |
| United Urban Investment 8960.T | $3.04B | -15% | -2% | 36% | 16.7× | n/a |
| Daiwa House REIT Investment 8984.T | $3.15B | -13% | -9% | 40% | 20.5× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 8985.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +4.4% | +3.2% | 9th highest of 21 |
| 6-month return | +6.5% | -3.6% | 6th highest of 21 |
| Distance from 52-week high | -9.1% | -12.4% | 6th highest of 21 |
| Revenue growth (TTM) | +14.9% | +5.1% | 7th highest of 21 |
| Operating margin | 67.0% | 48.7% | 3rd highest of 21 |
| Forward P/E | 9.4× | 19.2× | cheapest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Japan Hotel Reit Investment 8985.T | Japan | $3.14B | +7% | +15% | 67% | 9.4× | n/a | n/a |
| Daiwa House REIT Investment 8984.T | Japan | $3.15B | -13% | -9% | 40% | 20.5× | n/a | n/a |
| Park Hotels & Resorts PK | United States | $3.17B | +39% | -1% | 12% | 29.1× | n/a | n/a |
| CT Real Estate Investment Trust CRT-UN.TO | Canada | $3.11B | +3% | +5% | 75% | 12.0× | n/a | n/a |
| Suntec Real Estate Investment Trust T82U.SI | Singapore | $3.18B | -7% | +1% | 56% | 19.4× | n/a | n/a |
| ORIX JREIT 8954.T | Japan | $3.06B | -12% | +35% | 51% | 18.1× | n/a | n/a |
| United Urban Investment 8960.T | Japan | $3.04B | -15% | -2% | 36% | 16.7× | n/a | n/a |
| Keppel REIT K71U.SI | Singapore | $3.27B | -5% | +5% | 49% | 19.2× | n/a | n/a |
| Invincible Investment 8963.T | Japan | $2.94B | -1% | +10% | 57% | 15.3× | n/a | n/a |
| Broadstone Net Lease BNL | United States | $3.36B | -12% | +8% | 48% | 26.1× | n/a | n/a |
| SmartCentres Real Estate Investment Trust SRU-UN.TO | Canada | $3.37B | -3% | -1% | 52% | 32.6× | n/a | n/a |
| Primary Health Properties PHP.L | United Kingdom | $3.41B | +6% | +104% | 81% | 13.1× | n/a | n/a |
| DiamondRock Hospitality DRH | United States | $2.88B | +30% | +2% | 17% | 21.5× | n/a | n/a |
| Frasers Centrepoint Trust J69U.SI | Singapore | $3.43B | -5% | +16% | 62% | 17.1× | n/a | n/a |
| Derwent London DLN.L | United Kingdom | $2.87B | +15% | +45% | 40% | 20.0× | n/a | n/a |
| Canadian Apartment Properties Real Estate Investment Trust CAR-UN.TO | Canada | $3.45B | -14% | -7% | 61% | n/a | n/a | n/a |
| KDX Realty Investment 8972.T | Japan | $3.47B | -16% | +3% | 39% | 16.3× | n/a | n/a |
| Highwoods Properties HIW | United States | $3.47B | +24% | +6% | 26% | 44.5× | n/a | n/a |
| National Health Investors NHI | United States | $3.50B | -5% | +24% | 45% | 20.6× | n/a | n/a |
| Hammerson HMSO.L | United Kingdom | $2.80B | +13% | +92% | 49% | 15.2× | n/a | n/a |
| First Capital Real Estate Investment Trust FCR-UN.TO | Canada | $3.55B | 0% | +3% | 49% | 18.3× | n/a | n/a |