Ishin Hotels Group

A Dynamic Organization

EXPERIENCED corporate and hotel operation

SUCCESSFUL branding ( the 　 hotels )b,

PROVEN turn–around capabilities

EXPANDING — now 17 hotels with 4,323 rooms

EXTENSIVE team — 1,500 members

GROWING market recognition — 14th year of operation

Four Pillars of Success

To be the premier hospitality company in Japan. (Management and Franchise partner)Vision

Mission

Core Values

Culture

To grow nationwide, as we turn-around and professionally manage a diversified hotel portfolio.

Team Effectiveness Guest Satisfaction Profitable Operations Quality Brand Management

Balancing our core values in order to fulfill (and exceed!) all our stakeholders’ expectations.

The Ishin Hotels Group Portfolio

Our Own BrandsOwned and operated

FranchiseOwned and operated

Ownership / Lessor

Original BrandsOwned and operated

Strategic PartnershipAsset management only

1,477

548

1,106

1,192

Investment Structure

Management Agreements

Operations

90% 10%Ishin

Hotels

Operating Companies / Team

Ishin Hotels Group

Grove managed

funds

Brand Managemen

t

Human Resources

Revenue Managemen

t

Cost Rationalizati

on/ KPI

F&B Support /

Restructuring

Asset Managemen

t

Turn-around Process

The six key steps in our turn-around and continuous value

creation process

Organization

Asset

Management

(6)

Business

Development

(5)

Technical

Services

(3)

Portfolio

Management

(1)

Human

Resources

(1)

Finance

(11)

Internal

Audit

Audit CommitteeCEO

CFO

MD/Hotel GM’s Hotel Controller

・ Disposition

・ Acquisition

・ Loan mgmt.

・ Capital mgmt.

・ Tenant mgmt.

・ Marketing/

Sales

・ Web

・ Distribution

・ Revenue

Mgmt.

・ PR Digital Media

・ IBP

・ Maintenance

・ Capex

・ Renovations

・ Project mgmt.

・ Analyst

・ Valuations

・ IBP / FBP

・ KPI

・ Administration

・ General affairs

・ I-net

・ Training

・ Development

・ Accounting

・ Cash mgmt.

・ Reporting

・ Lender comm.

・ FBP

IT is

outsourced

Senior Management Team

CEOMichael Nigitsch Austrian national 33 years of international hotel management

experience 23 years with Hilton International in Europe,

Africa and Asia (VP for Japan/Micronesia) 10 years with Ishin Hotels Group

CFOYasushi Kamei 23 years of experience in finance and accounting 6 years in real estate investment industry Previously VP in Carlyle LLC Joined Ishin Hotels Group in April 2011

Senior Management Team

Vice President, Technical ServicesKenji Matsuo Over 20 years of experience in the construction business Experience in domestic contractor / project management and in America

and Canada with Caesar Park Hotels & Resorts, New York Joined Ishin Hotels Group in September 2005

replace photo Executive Director, Asset Management

Tetsuya Hashiramoto Over 15 years of experience in real estate investment / financing /

securitization CEO of Mellow Partnership Limited Founder and Managing Partner of Himori Hashiramoto with ¥136 billion

of real estate transactions over 5 years Co-founder of Capital Advisors Joined Ishin Hotels Group in May 2011Vice President, Sales & MarketingAnnette MacAndrew Over 20 years of experience in sales & marketing (MBA) Strong track record in e- / channel / web marketing and revenue management Experience in various mid-range, regional hotel groups Joined Ishin Hotels Group in January 2009

Corporate Design

Learning and Development Platform

Operational Infrastructure

Integrated (PMS / Corporate) IT platform

Corporate Design

B(alance) S(core) C(ard) philosophy

AuditsCorporate

Social Responsibility

How We Add Value

Revenue management and distribution expertise

Web and social media expertise

Fully integrated business planning, processing and reporting

KPIs, manuals, standard policies

Human resources coaching and “change management”

Technical service support

Expense management paired with tactical / strategic performance enhancement

Attractive and flexible management contract terms

At Ishin, we imagine what is possibleand work to achieve it.

Thank you and please visit us any time on “www.ishinhotels.com”