TOKYO -- Hotel and dormitory operator Kyoritsu Maintenance's operating profit likely slipped 7% on the year to around 2.3 billion yen ($20.1 million) in the April-June quarter as construction costs piled up, but high occupancy rates suggest healthy full-year earnings ahead.
Sales are seen climbing 10% to about 35.5 billion yen. The company's Dormy Inn business hotels enjoyed an occupancy rate around 90%, and the average daily rate appeared to rise as well. The lodgings enticed business travelers and sightseers with distinguishing touches such as large public baths and breakfasts featuring locally sourced ingredients.