Marriott International expands its Korean hotel pipeline

The Ryse, Autograph Collection is set to open in Seoul's Hongdae District.

Marriott International is taking on Korea as a key focus in its expansion plan. The group has a strong pipeline of properties being developed in the country across its various brands, including Fairfield by Marriott Seoul, Fairfield by Marriott Busan, Courtyard by Marriott Seoul Botanic Park and Ryse Autograph Collection, which are expected to be complete by 2018.

"The Korea market has been a strategically important market for Marriott International for many years. It offers enormous potential for both leisure and business travelers," Jenny Kim, Marriott International's South Korea area director of sales & distribution, told Business Times. She explained that the company currently maintains a 15-hotel portfolio in Korea, and more hotels are expected to open soon. "Korea will remain a key market in Asia in the long run," Kim said.

"We... are always on the lookout for opportunities. Post the merger of Marriott and Starwood, we have a combined portfolio of 30 brands globally, and 21 are currently represented in Asia-Pacific." Peter Gassner, Asia-Pacific regional VP for hotel development, told Business Times. He added that while Marriott gears up for the opening of Le Meridien, the group is about to launch its Marriott brand in Korea at the integrated resort Jeju Shinhwa World. 


Like this story? Subscribe to IHIF!

The hospitality industry turns to IHIF International Hotel Investment News as the must-read source for investment and development coverage worldwide. Sign up today to get inside the deal with the latest transactions, openings, financing, and more delivered to your inbox and read on the go.

Opening in June 2018, Fairfield by Marriott Seoul will be the world's largest Fairfield-branded hotel with 553 guestrooms. The new Yeongdeungpo-gu hotel will be near the Yeongdeungpo-gu Station, major department stores and corporate offices. 

Marriott is opening a second Fairfield by Marriott in downtown Busan, Korea's second largest city. Slated to open in Nov. 2018, Fairfield by Marriott Busan, which will be near Haeundae Beach, BEXO and Centum City, will have 221 guestrooms. 

Seoul is also set to get a Courtyard by Marriott hotel scheduled to open in June 2018 next to the new Seoul Botanic Park. The 262-room Courtyard by Marriott Seoul Magok Valley will be near the LG Science Park, which is currently under development in Magok District. 

Rounding out the list is Seoul's design-focused Ryse hotel, which will be developed in the Hongdae District and will consist of 272-guestrooms and 46 suites.