MIRAI Corporation has acquired Randor Hotel Kyoto Suites, a 60-room apartment-style hotel in Kyoto, for ¥3.55 billion.
The acquisition was announced on August 3, 2026 and completed on August 7.
60-Room Apartment-Style Hotel in Kyoto
Randor Hotel Kyoto Suites is located in Minami Ward, Kyoto, approximately a nine-minute walk from Tofukuji Station on the JR Nara Line and Keihan Main Line.
Completed in July 2019, the six-story property contains 60 guest rooms.
The hotel is designed to accommodate groups and longer stays, with rooms capable of accommodating multiple guests.
Acquisition Price of ¥3.55 Billion
MIRAI acquired the trust beneficiary interest in the property for ¥3.55 billion.
Based on the hotel’s 60 guest rooms, the acquisition price is approximately ¥59 million per room.
The property has a site area of approximately 1,884 square meters and gross floor area of approximately 3,730 square meters.
MIRAI is a Tokyo Stock Exchange-listed J-REIT sponsored by Mitsui & Co. Asset Management Holdings and IDERA Capital Management.
Hotel Income Includes Fixed and Variable Rent
The hotel is operated under a lease structure combining fixed rent with a variable component linked to hotel operating performance.
According to MIRAI’s acquisition disclosure, the variable rent component is linked to the hotel’s GOP, or gross operating profit.
This structure gives the property owner exposure to hotel operating performance while retaining a fixed component of rental income.
Kyoto Continues to Attract Hotel Investment
The acquisition adds another hotel asset to MIRAI’s portfolio and comes amid continued investment activity in Japan’s hospitality real estate sector.
Kyoto remains one of Japan’s major tourism markets, attracting both domestic and international visitors and a range of hotel investment strategies.
Apartment-style hotels have also become an established part of the city’s accommodation market, particularly for families, groups and longer-stay travelers.
Sources
MIRAI Corporation – Investor Relations
HVS Asia Pacific Hospitality Newsletter – Week Ending 7 August 2026