Market Overview

First "Nikko Style" Lifestyle-Brand Hotel to Open in Nagoya in 2020

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Okura Nikko Hotel Management Co., Ltd., a subsidiary of Hotel Okura Co.,
Ltd., announced today its conclusion of a contract with Meieki
Management LLC to manage Nikko Style Nagoya, the first hotel under the
new upscale, select-service Nikko Style brand, which will open in 2020.

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20180807006033/en/

Communal Lobby (Photo: Business Wire)

Communal Lobby (Photo: Business Wire)

Nikko Style Nagoya will be located in Nagoya's popular Meieki district,
which combines offices, retail outlets and other downtown conveniences,
including Nagoya Station, within the fast-redeveloping Chukyo metropolis
that extends well beyond Nagoya.

Mr. Marcel P. van Aelst, CEO of Okura Nikko Hotel Management, remarked,
"We are delighted that we will be opening Nikko Style Nagoya in 2020.
This will be our first property branded under Nikko Style, our new
lifestyle brand targeting customers who are especially interested in new
and creative hotel experiences. We look forward to opening this and
other Nikko Style hotels in major locations worldwide to create an
all-new customer base."

Nagoya's Meieki district is a principal transportation hub with
intersecting JR, Nagoya Railroad and Kintetsu Railway lines. In recent
years, Meieki has become the main gateway to the Nagoya metropolitan
area and surrounding region. The district's distinctive atmosphere is
defined by its highly regional character, including historic Yanagibashi
Central Market, the local "pantry of citizens." Chubu Centrair
International Airport is within easy reach and is expected to bring in
many more overseas visitors as Japan's inbound tourism continues to
surge.

Nikko Style Nagoya will offer 191 rooms, a communal lobby, all-day
dining and a fitness gym. This will be Okura Nikko Hotels' first
select-service lifestyle hotel targeting at a new customer base. The
upscale facility will be specifically geared to satisfying the needs and
preferences of millennials interested in culture, health, the
environment and creative hotel experiences. It is forged from the brand
concept of a hotel that fascinates people by offering them new travel
styles and experiences.

One of the hotel's many appealing features will be its communal lobby,
which is designed to facilitate interaction among hotel guests, local
people and other visitors. Additionally, a special event area in the
lobby will provide a unique space for culinary events featuring tasty
local ingredients, workshops on Nagoya's distinctive cuisine and
performances by local musicians, allowing guests to absorb Nagoya
culture and experience its charms even before venturing outside.

All-day dining will include a tempting mix of all-round and local
Japanese cuisine, including fresh, high-quality produce supplied by
local farmers, as well as representative local beers and Japanese sake.

Standard rooms will offer an above-average 30 m² of floor space with 5
meters of frontage, providing spacious living areas and bathrooms
allowing enhanced relaxation. Interiors will incorporate motifs inspired
by the traditional crafts of Nagoya, imbued with Japan's world-famous
manufacturing culture, and in the same spirit, Nikko Style Nagoya will
provide their own original amenity products which are gentle on the skin
and environmentally friendly.

The 24-hour fitness gym will invigorate guests with an exhilarating open
design enhanced by an extra-large picture window. As a people-friendly
and earth-friendly hotel, Nikko Style Nagoya will offer guests
environmentally friendly choices such as the option to decline
replacement towels or bed linen.

The development of the hotel facilities is being carried out by Support
27 LLC. And ORIX Real Estate Investment Advisors Corporation performs
asset management and project management work, which has been
commissioned by Support 27.

Overview of Nikko Style Nagoya

Location: 5-2011-1 Meieki, Nakamura-ku, Nagoya City, Aichi Prefecture
Access:
5-minute walk from Kokusai Center station
No. of floors: 13
Total
floor area: About 9,542 m2

About Nikko Hotels International

Nikko
Hotels International
(NHI) is a luxury hotel brand providing
facilities and services to meet a wide variety of guests' needs in urban
centers and popular resort destinations worldwide. The NHI brand
emphasizes fine luxury, gracious hospitality and international culture.
Service in the spirit of Japanese hospitality is a distinguishing
feature of all NHI properties, both in Japan and overseas. Please visit www.okura-nikko.com/nikko
for more information.

About Okura Nikko Hotel Management

Hotel
Okura Co., Ltd.
, founded in 1958, opened its flagship Hotel
Okura Tokyo
in 1962. Hotel Okura has extensive expertise in the
hospitality world, including asset ownership and hotel development, as
well as hotel management, restaurant business and chain operations
through its subsidiaries and other group companies. The brand unites
member hotels under its "Best Accommodation, Cuisine and Service"
philosophy to ensure that all guests enjoy Okura's signature
hospitality, which combines Japanese attention to detail and Western
functionality.
Please visit www.okura.com.

Okura
Nikko Hotel Management Co., Ltd.
, a subsidiary of Hotel Okura
operates 73 properties (47 in Japan and 26 overseas) encompassing some
22,678 guest rooms (as of July 31, 2018) under three hotel groups: Okura
Hotels & Resorts
, Nikko
Hotels International
and Hotel
JAL City
. Please visit www.okura-nikko.com.

About ORIX Real Estate Investment Advisors Corporation

ORIX
Real Estate Investment Advisors Corporation
was established in 2007
primarily aiming to form and manage the private funds. The ORIX Group is
a corporate group that pursues a contribution to society by constantly
creating new value through financial and other services. ORIX real
estate business specializes in multiple areas, including investment in
the development of residences, offices, logistic facilities and retail
facilities and other facilities. Additionally, the ORIX Real Estate
Corporation deals with the management of hotels, training centers, golf
courses, aquariums and other facilities. ORIX Real Estate Investment
Advisors Corporation has been offering investors even more attractive
investment opportunities by fully leveraging the ORIX Group's know-how
in the real estate and finance.
Please visit www.orix.co.jp/oria/en/index.html.

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