Super Hotel will cease operations of Super Hotel Kyoto Karasuma Gojo on February 19, 2024.
Located within walking distance from Subway Gojo Station, the hotel offers a total of 108 guest rooms. The facility includes a parking lot that can accommodate 5 cars, and offers a complimentary breakfast from 7 am to 9 am.
Built in January 2004, the property has been managed by teachers such as Heiwa Real Estate Asset Management and was acquired by Mirai REIT in December 2016 for 1.03 billion yen. As of the end of April 2023, the book value is 1.29 billion yen, with an appraised NOI yield of 5.4%, and a post-depreciation NOI yield of 4.7%. The closing of operations is believed to be due to the expiration of the fixed-term building lease agreement in February 2024.
In addition, another property owned by Mirai REIT, Super Hotel Osaka Tennoji, will also end its operations on February 13, 2024.
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