Hyatt Hotels Corporation today announced that a Hyatt affiliate has entered into a management agreement with Lotte Tour Development Co., Ltd. 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, complementing Grand Hyatt Seoul and is expected to be the second largest Grand Hyatt hotel in the world.
Grand Hyatt Jeju will make its home in the center of Jeju City, the capital and largest city of Jeju Province. Located south of the Korean Peninsula and only an hour flight from 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 more than 3 million tourists from mainland China last year, and welcoming over 10 million visitors annually from South Korea, Japan and China.
Lotte Tour will be the lead developer of the Dream Tower Integrated Resort project in Jeju, along with Greenland Group, one of China’s largest state-run real estate developers. The project will feature two towers as well as a retail podium.
Grand Hyatt Jeju will have 1,600 rooms, 11 food and beverage outlets, approximately 1,200 square meters of meeting space, indoor and outdoor pools, fitness center, two spas (Western and Korean) with a total of eight treatment rooms and two kids clubs.