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27 August 2008

Japan Leisure Hotels Limited

('Japan Leisure Hotels' or the 'Company')

Hotel Acquisition Completion

Further to the announcement made on 12 August 2008, Japan Leisure Hotels is pleased to announce that the acquisition of the interest in the Yokkaichi property has now been completed.

The Property was purchased for a consideration of Japanese Yen 410 million (approximately £1.9 million) excluding costs and with this investment the Company has now invested in six leisure hotels accounting for a total of 242 rooms.

Investment Highlights: 

• The Property was purchased for a price of Japanese Yen 410 million (£1.9 million), including acquisition costs (principally taxes) of Japanese Yen 450 million (£2.1 million).
  

   

• The investment was funded entirely from existing cash resources of the Company.

• During the 12 months to May 2008, the Property generated EBITDA of approximately Japanese Yen 38 million on turnover of approximately Japanese Yen 162 million.

 

For further information, please contact: 

New Perspective (Asset Manager)
Steve Mansfield, CEO New Perspective		+81 3 4550 1808
Shore Capital and Corporate Limited (Nomad)
Dru Danford / Stephane Auton		020 7408 4090
West Hill Corporate Finance (Financial Adviser)
Alan Richards / John Terrando		020 7464 8822
Tavistock Communications (Financial PR)
Jeremy Carey / Paul Youens		020 7920 3150 pyouens@tavistock.co.uk

Notes for Editors 

Japan Leisure Hotels is a Guernsey registered closed-ended company which was listed in January 2008 to invest into the Japanese leisure hotel industry and, through its investments, benefit from the consolidation of a highly fragmented industry.

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