Hello, everyone. I am Kiyoto Kawakami, Head of IR at Seibu Holdings. I will explain the presentation titled "Overview of Financial Results for the nine months ended December 31st, 2023." Please turn to page four. This slide explains the financial results for the nine months ended December 31st, 2023. Operating revenue increased due to factors such as the recovery in people's activities as a result of COVID-19 being downgraded to Class 5 and Seibu capturing the related demand, as well as raising prices mainly in the hotels business. Operating profit increased due to top-line growth despite the increase in expenses, including personnel expenses. Profit attributable to owners of parent was JPY 43.1 billion. Together with the income related to the transfer of leasehold interests in land in the first half, there was the partial transfer of the former Toshimaen land in this third quarter.
Due to the rebound of the capital gain from the sale of non-current assets following the transfer of assets, including The Prince Park Tower Tokyo booked in the previous year, profit attributable to owners of parent declined year-on-year. Both operating revenue and profit outperformed the revised earnings forecast announced on September 28th. We will continue working to capture the recovering demand as well as raise prices in the current fourth quarter. Meanwhile, we will make preparations for the next fiscal year and book expenses for items such as the repair work, which we had postponed due to COVID-19. Although we are making progress that is stronger than the revised forecast, we do not expect the outperformance to be significant, and we are therefore not changing the full-year forecast from what we announced in September. Pages five and six explain the factors for the increases and decreases by segment.
Pages 13 - 15 explain the upcoming real estate development projects. Page 16 explains the capital recycling business. There are no changes from the material used in the second quarter results announcement, and we are making steady progress in the preparations. On page 17 is the progress made in hotel openings as well as the future pipeline. As for the current operational status of hotels opened in this fiscal year, at the Grand Prince Hotel Osaka Bay, we are steadily raising ADR and are now working on MICE and corporate-related initiatives, which is our strength, to secure future volume. For The Prince Kitano New York, which opened on December 1st, 2023 following a rebranding, the hotel has been in operation for only one month, but the accommodation metrics and sales in December were above the previous December. Please turn to page 18.
This slide explains the progress in establishing a global development structure. This is what Seibu Prince Hotels Worldwide disclosed on January 30th. In order to establish our competitiveness as a global hotel chain, we believe it is necessary to broaden the customer base in Japan and overseas and strengthen reciprocal customer transfer among group facilities. In order to build the platform for doing so, we will be integrating the membership programs in Japan and overseas, as well as integrating the marketing brands step by step from April 2024 onwards. Please turn to page 35. This is about the trends in our railway business. In the table at the bottom, we show the number of ticket gate passages.
If we look at each month from October to January and compare it with fiscal year 2019, after excluding extraordinary factors such as the impact of typhoons and the New Year Holidays, commuter was almost flat, while non-commuter was around -1% in October, -3% in November, -1% in December, and -2% in January. Although there are ups and downs depending on the month, the numbers are gradually recovering. Please see the upper left graph, which shows the sales from railway transportation before and after COVID-19. Compared to the assumptions used in the forecast in the third quarter, commuter revenue was almost in line with expectations, while non-commuter outperformed expectations. Please turn to page 36. Here, we have one correction and apology. At the bottom of page 36, we show the status of bookings as of February 6th.
In the section about March 2024, where we compare our assumptions for RevPAR, ADR, and occupancy with 2019, it says February 2019 when it should be March 2019. Apologies. Let me now explain this page. In the upper left graph, we show the ADR and occupancy up to the third quarter, as well as the assumptions used in the fourth quarter forecast. In the third quarter, occupancy was in line with our expectation, but ADR was higher than expected, leading to outperformance in RevPAR. We expect pricing to remain high in the fourth quarter. Compared to pre-COVID-19, ADR in January was 125% of 2020 and will be around 130% of 2019 in February and March. In terms of RevPAR, January was around the same as 2020, while February will be 104% and March 114% of 2019.
In terms of inbound bookings, on a room revenue basis for the entire domestic hotel operations, we expect February and March to be around 150% of fiscal year 2018. Thank you for your attention.