Invincible Investment (TYO:8963) reported a 25.4% year-over-year increase in overall portfolio net operating income for October to 3.2 billion yen, according to a Monday filing on the Tokyo Stock Exchange.

The rise reflects steady demand, while overseas hotel RevPAR fell due to bad weather, room closures for renovations at Sunshine Suites Resort, and competition from a new hotel's opening campaign, said the filing.

For its domestic hotel segment, occupancy rose by 4.2 percentage points in October, with an average daily rate (ADR) increase of 12.8% leading to a 18.4% jump in revenues per available room (RevPAR). Notably, hotels in the Kansai area recorded a RevPAR boost of 41.2% year over year.

Conversely, the Cayman Hotels segment, which includes the Westin Grand Cayman and Sunshine Suites Resort, experienced a decline in performance due to room closures for renovations and competition from new hotel openings. The occupancy rate fell to 50.7%, with a RevPAR drop of 6.4% compared with October 2023.

The residential portfolio also showed a slight drop, with an in-place occupancy rate decreasing by 0.4 points to 96.8%. The average rent per tsubo increased by 0.8% year over year, contributing to a 2.2% rise in NOI for this segment.