Kasumigaseki Hotel REIT prioritizes the inclusion of hotels that address key challenges in Japan’s tourism industry—for example, hotels located in regions with high potential of demand for sightseeing and leisure, hotels offering multi-occupancy and long-stay room types, and hotels incorporating operation labor-saving measures—thereby aiming to build a portfolio that is differentiated from those of other REITs.

Investment Targets	Predominantly hotels Hotels that are expected to capture leisure demand over the medium to long term: 70% or more (on acquisition price basis) Hotels that are expected to capture business demand over the medium to long term: 30% or less (on acquisition price basis) In principle, the acquisition price per property should be 500 million yen or more
Investment Regions	Regions where lodging demand is expected over the medium to long term, especially in major tourist destinations and business-oriented locations across Japan