Our numbers, published
Operating data from our own properties
These are the results of the three buildings and six rooms we run ourselves. The hardest part of choosing a management company in Japan is that nobody publishes numbers you can compare, so we publish ours. Shares and days only: no revenue figures.
Measured 2026-08-21 · Twelve complete months, August 2025 to July 2026
What occupancy do the apartments actually run at
Over the last twelve complete months our rooms averaged 83.6% occupancy: 85.4% across the three Tokyo rooms and 82.0% across the three in Sapporo.
The monthly spread matters more than the average. Nearly fifteen points separate the strongest month from the weakest, driven by season and by how much long-stay demand landed that month. An annual average on its own hides that range, which is exactly the range an owner's cash flow has to survive.
| Month | All | Tokyo | Sapporo |
|---|---|---|---|
| 2025-08 | 76.3% | 72.6% | 83.9% |
| 2025-09 | 83.3% | 81.7% | 86.7% |
| 2025-10 | 90.3% | 95.2% | 80.6% |
| 2025-11 | 80.8% | 93.3% | 68.3% |
| 2025-12 | 81.9% | 78.5% | 87.1% |
| 2026-01 | 81.9% | 80.6% | 83.9% |
| 2026-02 | 89.3% | 84.5% | 94.0% |
| 2026-03 | 87.6% | 84.9% | 90.3% |
| 2026-04 | 80.6% | 90.0% | 71.1% |
| 2026-05 | 84.9% | 91.4% | 78.5% |
| 2026-06 | 81.7% | 85.6% | 77.8% |
| 2026-07 | 84.4% | 87.1% | 81.7% |
The strongest month was 2025-10 at 90.3%, the weakest 2025-08 at 76.3%.
How long is a booking, and how far ahead does it come in
The average stay is 3.3 nights and the median booking lead time is 42 days, across the 449 bookings that arrived during the window.
Both numbers drive how a property has to be run. At three nights and change, cleaning turnover decides the economics. And when the median guest books more than a month out, last-minute price moves reach only part of the demand, which is why pricing gets reviewed daily rather than at the start of a season.
What share of revenue do operating costs take
Cleaning is the largest single line at 17.5% of revenue, and the lines listed below come to 27.9% together.
Rent and management fee are deliberately not in this table. We lease the buildings we operate, but an owner handing us their own property is in a different position on both counts. Leaving them in would make running a short-term rental look about a third more expensive than it is for that owner.
| Line | Share of revenue |
|---|---|
| Cleaning | 17.5% |
| Consumables | 4.2% |
| Electricity | 2.6% |
| Repairs and replacements | 1.1% |
| Accommodation tax | 1.1% |
| Gas | 1% |
| Insurance | 0.4% |
| Total (excluding rent, management fee and water) | 27.9% |
Water is not included: billing runs every two months and is tracked outside this workbook, so those figures are absent from the source rather than zero. The real total is therefore slightly higher than the one shown.
How do guests rate the apartments
364 reviews across all listings, weighted average 4.9.
Reviews appear on each property page as they came in. We do not filter for the flattering ones.
How long does a hotel-business permit take
All three buildings took between three and six months from first consultation to permit. What takes the time is construction and inspection, not paperwork.
How these numbers are calculated
- Source is accepted reservations in our own PMS (Hospitable). Cancellations and enquiries are excluded.
- Occupancy is nights sold divided by nights available. The two combined listings (KAMEARI 101+201, SAPPORO NORTH 1B+1C) sell the same rooms together, so their nights are expanded onto the real rooms. Counting them as extra inventory would flatter the number.
- A room enters the denominator from the month it opened. Counting months before a room existed would understate the number.
- The running month is excluded; only complete months are shown.
- Cost shares come from our own performance workbook (expenses by department from freee), and only the shares are exported.
What would this look like for your property
We will run the same arithmetic on the property you are considering. Send the location and the number of rooms and you get an honest read, not an optimistic one.