Starwood Hotels & Resorts Worldwide and Parnas Hotel Co. will combine on The Parnas, A Luxury Collection Hotel, Seoul. The hotel, to be located in the city’s district of Gangnam, will mark the first Luxury Collection hotel in South Korea.
“We are very pleased to announce the signing of The Parnas, A Luxury Collection Hotel, Seoul as well as the debut of The Luxury Collection brand in South Korea,” said Lothar Pehl, SVP, operations and global initiatives, Asia Pacific, Starwood Hotels & Resorts Worldwide. “In the past two years, South Korea has experienced a surge in demand for quality and luxury accommodations, and we are thrilled to soon offer guests The Luxury Collection’s exceptional services and enriching experiences in the most stylish neighborhood of Seoul.”
The hotel is expected to open in 2016 with 138 rooms, including 24 suites. “While there is increasing demand for luxury hospitality in South Korea, there are limited new opportunities at the highest level,” said Matthew Fry, SVP, acquisition & development, Asia Pacific, Starwood Hotels & Resorts Worldwide. “The captivating brand proposition of The Luxury Collection coupled with the most sought-after address in Gangnam creates an incredible opportunity to showcase the strength of Starwood’s luxury brands and grow in the upper tier of this market.”
“With Starwood’s powerful sales platform and The Luxury Collection’s distinctive global portfolio, we are looking forward to the successful opening of The Parnas Hotel as the brand’s first hotel in Korea,” said Hong-sup Song, CEO of Parnas Hotel, Co. Ltd.
Starwood currently has six hotels in South Korea, including W Seoul - Walkerhill, Sheraton Seoul D Cube City Hotel and The Westin Chosun Seoul with two hotels in the development pipeline, including Aloft Seoul Gangnam and Sheraton Daegu Hotel.