A Hyatt Hotels affiliate has signed a management agreement with Lotte Tour Development for a Grand Hyatt branded hotel in Jeju City, Jeju Island, South Korea. The new hotel will mark Hyatt’s sixth property in the country, following Grand Hyatt Seoul, and is expected to be the second-largest Grand Hyatt hotel in the world.
The 1,600-guestroom Grand Hyatt Jeju will be developed in the center of Jeju City, the capital and largest city of Jeju Province. South of the Korean Peninsula and near Seoul, the island has become one of the most popular destinations in Korea outside of Seoul.
In 2016, over 12 million passengers flew between Seoul and Jeju, making the route one of the world’s busiest passenger air routes. The city has experienced a surge in Chinese demand within the past decade, seeing over 3 million tourists from mainland China last year. The island also had over 10 million visitors annually from South Korea, Japan and China.
Also capitalizing on this influx of travelers to Jeju, Lotte Tour will be the lead developer of the Dream Tower Integrated Resort project in Jeju along with Chinese real estate developer Greenland Group. The project will have two towers and a retail facility.
Four Seasons Hotels & Resorts is also claiming its own spot in the increasingly popular tourist destination. The hotel group has partnered with Landing Jeju Development and Jeju Shinhwa World to open a new Four Seasons resort as part of the Jeju Shinhwa World mixed-use development in South Korea. As part of the approximately 27 million square-foot development, which is in development and has been opening in phases, the Four Seasons Resort Jeju Island will have about 240 guestrooms, suites and villas. It will be surrounded by the integrated development's other hotels, resort condos and villas, retail space, numerous entertainment attractions, the island's multiple UNESCO World Heritage sites and various natural sites.