ORIX Real Estate to Close Hana-Kan of Beppu SUGINOI HOTEL on December 1 for Reconstruction
~Events planned to express gratitude before ending 55-year history~

TOKYO, Japan - October 22, 2021 - ORIX Real Estate Corporation (“ORIX Real Estate”) announced that it will close the guest room building Hana-kan of Beppu SUGINOI HOTEL, a hot spring resorts hotel under the ORIX HOTELS & RESORTS brand, on December 1, 2021 for reconstruction. Before the closing, ORIX Real Estate will hold limited-time events to express its gratitude for continued patronage.

Since its opening in 1966, Hana-kan has been patronized by many guests as a representative building of Beppu SUGINOI HOTEL. As part of the large-scale renovation project^* slated for overall completion in 2025, Hana-kan will end its 55-year history. A new guest room building will be constructed on the site of Hana-kan.

To show its sincere appreciation to customers and local people, ORIX Real Estate will implement a program that provides opportunities to make final memories and look back on past experiences at Hana-kan. Specifically, a total of 15 people will be selected by drawing lots from among those who have posted memorable photos or episodes at Beppu SUGINOI HOTEL on Instagram or have sent them by mail. The selected customers will be entitled to stay at the hotel for free.

ORIX Real Estate will also actively invite the shooting of films, dramas, and commercials to leave records of Hana-kan as much as possible. Please look forward to various other memorable events that will be planned as well until the last business day of Hana-kan.

^* For further information, please refer to the news release: ORIX Real Estate to Begin Large-scale Renovations of Beppu Suginoi-Hotel | ORIX Group(June 12, 2019)

3．Outline of ORIX Location Service
ORIX Location Service was launched in 2007 to enable real estate owned, managed, or operated by the ORIX Group to be used as filming locations for films, television, and commercials. Through the service, television programs, films, and promotional videos have previously been recorded at Mark Springs, a residential area completed in 2003 that features both detached housing and condominiums, and at the Cross Wave Fuchu training facility.With the launch of the Regional Co-creation Project, ORIX Real Estate will work together with local governments to expand the scope of the ORIX Location Service from Group-operated facilities to multiple other filming sites, including local tourist spots. It will also utilize Locanavi!, a filming location search website operated by Chiikikassei Planning, which is engaged in regional revitalization activities, to actively develop ORIX Location Service.

* For further information, please refer to the news release: Creating new tourist attractions through regional collaborations and Group synergies The Regional Co-creation Project | ORIX Group(May 11, 2021)

4. Overview of Beppu Suginoi Hotel
Along with the reconstruction of Hana-kan, a total of three guest room buildings will be newly constructed. Completion of all works is slated for 2025.

Overview of Beppu SUGINOI HOTEL

Address	1 Kankaiji, Beppu, Oita
Guest rooms	802 *As of October 22, 2021
Hot springs	Tanayu, an open-air hot spring with a magnificent view, and one other open-air hot spring
Dining facilities	6 restaurants and bars (buffet restaurant, Japanese restaurant, Italian restaurant, tea lounge, etc.)
Other facilities	The Aqua Garden; AQUABEAT; a bowling alley; a games corner; etc.
Access	5 minutes by car from the Beppu Interchange on the Higashi Kyushu Expressway 10 minutes by car from JR Beppu Station (a free shuttle bus operates between the hotel and the West Exit of JR Beppu Station) 20 minutes by car from Beppu International Tourism Port 45 minutes by car from Oita Airport
Operating company	ORIX Hotel Management Corporation
Telephone	0977-24-1141
FAX	0977-21-0010
URL	https://www.suginoi-hotel.com/english/

5. Cleanliness Policy
ORIX Real Estate and ORIX Hotel Management Corporation have formulated and implemented an independent Cleanliness Policy (“‘With COVID-19’ Operation and Service Policies”) so that all guests can use the facilities safely and with peace of mind.

Examples of measures
(1) Appointment of staff in charge of promoting hygiene management
The staff in charge of promoting hygiene management strives to establish a system that welcomes guests in perfect conditions, checking the state of compliance with these guidelines and the facility’s operation manual as well as seeking to ensure thorough awareness among employees.

(3) Introduction of system to avoid crowds
A system to avoid crowds has been introduced that allows guests to check the state of congestion at public baths and the guest lounge while in their rooms.

Cleanliness Policy posted on the official website of ORIX HOTELS & RESORTS
https://www.orixhotelsandresorts.com/info/2020/09/16/3604/ (in Japanese)

6. Overview of the Business Brand ORIX HOTELS & RESORTS
ORIX HOTELS & RESORTS is an onsen hotel and hotel operating business brand. It is responsible for 13 ORIX Hotel Management Corporation facilities whose operation has not been entrusted to other companies.
The brand concept is “a location to which customers wish to return.” ORIX HOTELS & RESORTS seeks to become a brand that caters in a refreshing manner to the diverse needs of its customers and even, at times, satisfies desires they did not know they had. https://www.orixhotelsandresorts.com/ (in Japanese)
* Some of the services currently provided to facility users may differ from those in normal times. The content of services may also be changed in accordance with requests from the central and local governments. For details, please look at the official website of each facility.

(1) List of accommodation facilities

(2) Overview of the brand’s business categories
ORIX HOTELS & RESORTS divides the facilities it operates into four different categories. It proposes trips suited to a variety of different usage scenarios, such as when traveling alone, with friends or family, and the purpose and style of travel.

Brand Categories

Contact Information：
Investor Relations and Sustainability Department
ORIX Corporation
Tel: +81-3-3435-3121　　　　　　　　　

About ORIX:
ORIX Corporation (TSE: 8591; NYSE: IX) is a financial services group which provides innovative products and services to its customers by constantly pursuing new businesses.
Established in 1964, from its start in the leasing business, ORIX has advanced into neighboring fields and at present has expanded into lending, investment, life insurance, banking, asset management, automobile related, real estate and environment and energy related businesses. Since entering Hong Kong in 1971, ORIX has spread its businesses globally by establishing locations in 31 countries and regions across the world.
Going forward, ORIX intends to utilize its strengths and expertise, which generate new value, to establish an independent ORIX business model that continues to evolve perpetually. In this way, ORIX will engage in business activities that instill vitality in its companies and workforce, and thereby contribute to society. For more details, please visit our website:https://www.orix.co.jp/grp/en/
(As of March 31, 2021)

Caution Concerning Forward Looking Statements:
These documents May contain forward-looking statements about expected future events and financial results that involve risks and uncertainties. Such statements are based on our current expectations and are subject to uncertainties and risks that could cause actual results that differ materially from those described in the forward-looking statements. Factors that could cause such a difference include, but are not limited to, those described under “Risk Factors” in the Company’s annual report on Form 20-F filed with the United States Securities and Exchange Commission and under “(4) Risk Factors” of the “1. Summary of Consolidated Financial Results” of the “Consolidated Financial Results April 1, 2020 – March 31, 2021.”