Dormy Inn over JAL and ANA! The “shareholder special benefit” for travelers is changing due to the rising cost of lodging… What do money professionals recommend?
Popular “Lodging” and “JR” Shareholder Benefits
JAL and ANA are well-known as shareholder special benefit plans popular among travel lovers, but their popularity has been declining in recent years.
On the other hand, “lodging-related” shareholder benefits are now attracting attention. Many companies offer lodging benefits, including Kyoritsu Maintenance (9616), which operates Dormy Inn, Washington Hotel (4691), and Fujita Kanko (9722).
Lodging benefits offered by railroad companies that operate hotel businesses are also a good target. In many cases, both fares and accommodations are offered, and the benefits can be combined when traveling by train.
In this article, we will introduce some “lodging” shareholder special benefits that allow you to enjoy travel at a reasonable price.

Why did the popularity of JAL and ANA special benefit coupons decline…?
Japan Airlines (JAL) (9201) and ANA (ANA Holdings, Inc., ANA HD) (9202) each offer special benefit tickets to their shareholders that allow them to fly domestic flights at half the price of regular fares.


These airline company shareholder special benefit tickets have been useful as a way to “fly cheaply.
However, with the rise of low-cost carriers (LCCs) in recent years, it is not uncommon to find one-way tickets for domestic flights for only a few thousand yen, and even full-service airlines such as JAL and ANA frequently hold airline ticket sales, with discounts often greater than those offered by shareholder benefits if booked early. In addition, the number of seats available for special benefit tickets is limited, and some say that reservations have become more difficult to obtain than in the past.
As a result, JAL and ANA HD shareholder benefits appear to be less attractive than before, leading to a decline in popularity.
Let’s compare the fares for actual reservations using the shareholder special benefit with those for reservations without using it, in the case of ANA.

In the above case, the discount rates for “Flex” fares, which offer the greatest flexibility in reservations, are approximately 53.5% for “Value 7,” which can be used with reservations made up to 7 days in advance, and approximately 59.6% for “Value 21,” which can be used with reservations made up to 21 days in advance. If one’s schedule is fixed in advance, simply making an early reservation is cheaper than using the shareholder discount.
However, this “early bird discount” has some drawbacks. Once a reservation has been made, it is basically impossible to change the departure date or flight*. (*) In principle, reservations must be cancelled before changes can be made. A cancellation fee is also charged. (*If you are unable to travel due to illness or other reasons, it is possible to change your reservation or receive a full refund after completing the prescribed procedures, such as submitting a doctor’s note.)
On the other hand, reservations made using shareholder benefits are treated in the same way as Flex, so reservations can be changed. If seats are available, reservations can be made until the day of departure, and there is no cancellation fee before departure. This service is highly valuable for those who wish to use a full-service airline at a discounted fare while maintaining flexibility in reservations.
In addition, shareholders holding 100 or more shares of ANA HD stock as of the end of March and September will be issued “ANA Group Discount Coupons. These coupons include a coupon for hotel stays at ANA Group hotels. In addition to discounts on fares, there are still many benefits to be gained from this “lodging” benefit.
JAL also offers a 3% or 8% discount on package tour travel for shareholders holding 100 or more shares.
Accommodations” Shareholder Benefits Growing in Popularity as Accommodation Costs Soar
While the popularity of JAL and ANA is on the wane, “lodging-related” shareholder special benefits are now attracting attention among travel enthusiasts.
This is due to the sharp increase in demand for inbound travel and the soaring cost of lodging due to rising prices. Especially in urban areas and tourist destinations, the rise in accommodation costs has been particularly pronounced, and it is not unusual for the price of a standard business hotel to exceed 10,000 yen per person per night. Under these circumstances, “lodging-related” special offers that provide discounts on lodging costs are becoming more and more profitable.

Kyoritsu Maintenance (9616)” will increase the amount of shareholder discount coupons issued from the end of March 2025.
Kyoritsu Maintenance (9616), which operates Dormy Inn business hotels nationwide, issues shareholder discount coupons twice a year to its shareholders, which can be used to pay for lodging.
Dormy Inn also offers a full range of free services. In addition to welcome sweets in guest rooms, ice cream and lactic acid bacteria beverages are available after taking a bath, and even yonaki soba (buckwheat noodles) are available for those who are feeling a little hungry. Breakfast is a buffet featuring a variety of local dishes.
The discount coupons issued at the end of March 2013 have an increased value, making them even more attractive (for holders of 100 shares, the annual discount coupon value is increased from 2,000 yen to 4,000 yen; for holders of 3 years or more, the annual discount coupon value is increased from 3,000 yen to 6,000 yen).


Kyoritsu Maintenance (9616) is a popular company, and its stock price is slightly overvalued when considered as an investment target. The following two stocks are of interest to the author as stocks with a relatively inexpensive share price and a full lineup of special benefits.
(1) Tokyu Land Holdings (3289): 100,000 yen for 100 shares…Popular for its reasonable share price.
Tokyu Land Holdings (3289) issues special accommodation coupons twice a year to shareholders who hold 100 shares or more, allowing them to use hotels operated by the company at special rates.
The hotels eligible for the special benefit range from resort hotels such as “Hotel Harvest” and “ROKU KYOTO, LXR Hotels & Resorts” to business hotels such as “Tokyu Stay” and can be used according to the purpose of the trip. Discounts on golf courses and ski resorts are also available, making it a good choice for outdoor leisure enthusiasts.
It is also nice to know that you can get the benefits from an investment of 100 shares, or about 100,000 yen. If you can afford it, we recommend holding 500 or more shares, which will double the number of company issued coupons. 500 shares will also qualify for special benefits in collaboration with JR East, including coupons for hotel stays at hotels operated by the JR East Group.

The dividend yield is also high at just under 4%! Tosei (8923) operates business hotels mainly in Tokyo.
Tosei (8923), which operates business hotels in Kanda, Ueno, and other areas, issues a 3,000-yen lodging coupon once a year to shareholders who hold 100 shares or more, which can be used at the Tosei Hotels operated by the company.
Shareholders who hold the company’s shares for more than one year also receive a QUO card that corresponds to the length of their holding. The dividend yield is high at just under 4%, and long-term ownership is recommended.

Are railroad companies’ “lodging-related” benefits a “double” bargain?
Many railroad companies that operate hotel businesses offer preferential rates for both fares and lodging at their own lodging facilities. If you combine the fare and lodging benefits, you can get a double discount. Many of the lodging facilities operated by railroad companies are located near train stations, making them highly convenient.
Among railroad companies, three JR companies and 16 private railway companies offer lodging discounts. If there is a company you are interested in or use frequently, it would be a good idea to check the details on the company’s website for special benefit information.
List of Railway Companies Offering Lodging Benefits
East Japan Railway Company (9020) / West Japan Railway Company (9021) / Kyushu Railway Company (9142) / Tobu Railway Company (9001) / Sotetsu Holdings (9003) / Tokyu (9005) / Keihin Electric Express Railway (9006) / Odakyu Electric Railway (9007) / Keio Electric Railway (9008) / Keisei Electric Railway (9009) / Fujikyu Corporation ( (9010) / Seibu Holdings (9024) / West Japan Railway (9031) / Kintetsu Group Holdings (9041) / Hankyu Hanshin Holdings (9042) / Keihan Holdings (9045) / Kobe Electric Railway (9046) / Nagoya Railway (9048)
If the author were to target special benefits from among the above, the three JR companies would be the first candidates. The following is a summary of the benefits offered by each company.
JR East (9020) offers a large selection of facilities.
JR East (9020) issues “shareholder discount accommodation coupons” once a year to shareholders who hold 100 shares or more, allowing them to use hotels operated by the company at a special discount price. (3289), which are also affiliated with the company, giving shareholders a wide choice of facilities to use.
In order to receive the discount coupons, shareholders must hold 300 or more shares of the company’s stock or 100 or more shares of the company’s stock for at least two years.

◇Half-price discount coupons for the Hotel Granvia, which is directly connected to the station! JR West (9021)
JR West Japan (9021) issues once a year to shareholders holding 100 or more shares a special discount railroad coupon that offers a 50% discount on fares and charges, as well as a “shareholder discount accommodation coupon” that allows use of hotels operated by the company at a special discount price.
The appeal of these coupons is that they allow use at preferential rates at convenient hotels, mainly in western Japan, such as the Hotel Granvia, which is directly connected to a train station.

One-day passes within JR Kyushu’s service area are popular “JR Kyushu (9142)
Once a year, JR Kyushu (9142) issues shareholder special benefit tickets (worth 2,500 yen) to shareholders holding 100 or more shares, which can be used for one-day rides within JR Kyushu’s service area or at its group facilities.
The one-day pass allows unlimited boarding and alighting, so it is a good idea to get off the train and enjoy sightseeing during the day. Although the shareholder coupons are mainly for Kyushu, they can also be used at restaurants in Tokyo (e.g., Akasaka Umaya) and hotels in Kyoto (e.g., THE BLOSSOM KYOTO).

Shareholder Benefits Make Travel More Affordable and Fun
If you make good use of shareholder benefits, you can enjoy travel at a good price. However, investing in stocks involves risk, so no matter how attractive the benefits may be, one must carefully decide whether to buy stocks or not. Even if you gain from the special benefit, you will lose more money if the stock price falls and you lose more than that.
If you are satisfied with a hotel where you have actually stayed, it may be a good idea to buy shares of the company that operates the hotel. If the company provides good service, the stock price often rises over the long term, and it makes sense to support the company.
If you can enjoy both travel and stock investment through shareholder benefits, you can kill two birds with one stone.
The stocks introduced here are only examples and are not intended as a solicitation or recommendation to buy or sell any particular stocks. Final investment decisions should be made at your own discretion.
Interview and text: Hiroki Takekuni
Financial planner and representative of Rapport Consulting Office. After graduating from Nagoya University's Faculty of Engineering, he worked for a securities company and an insurance agency before setting up his own business. He is a first-class financial planning technician, CFP®, certified real estate transaction specialist, and sauna and spa professional.
PHOTO: Afro (first picture)