South Korea’s leading foreigner-only casino operator, Paradise Group, will develop a new all-suite flagship hotel in Seoul as part of a revamped strategy to attract more international high rollers to its properties, the company’s CEO Choi Jong-hwan said this week.
According to a report by The Korea Times, the hotel is part of Paradise Group’s latest growth strategy, dubbed the “Beyond No. 1, Paradise Value Up Project”, which it says aims to go beyond traditional services and cater to those who are seeking unique and diverse experiences. The company will place a particular focus on Chinese tourists – a market it expects to continue its recovery in the months and years ahead.
Speaking at a press conference at its Paradise City integrated resort in Incheon, Choi revealed that the new Seoul hotel, scheduled to open in 2028, will stand 18 floors tall and span 13,950 square meters, with around 200 suites and offering premium services for foreign VIPs, luxurious Korean-style cuisine and wellness amenities.
“Sorry to say this, but I don’t think there are any decent hotels in Seoul,” Choi is quoted as saying. “We will build a truly high-end hotel in Seoul.”
First up for Paradise Group will be a new gaming space designed specifically for high rollers and spanning 383 square meters at the company’s Seoul casino, Paradise Walkerhill, which is slated to open in September, according to Choi.
In September, Paradise Casino Walkerhill will open a new space optimized for a high roller game exclusively for VIPs, spanning 383.31 square meters, while its four casinos in Seoul, Incheon, Busan and Jeju will become better aligned by integration of their operating systems to optimise marketing efforts, Choi said. A new Paradise lounge at Seoul’s Gimpo International Airport will open in August.
Choi said he saw China as a key target of the company’s efforts given that it has been slower to recover than markets like Japan.
“If the Japanese market has progressed significantly, I believe there is now substantial potential in the Chinese market,” he said.
“Particularly for Jeju Island, many see it as an opportunity given that Chinese visitors can now enter visa-free.”
Paradise recently reported a 38.2% year-on-year increase in sales to KRW264.8 billion (US$193 million) in 1Q24, aided by improvements in the mass market and Japanese VIP segments.
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