Hotels & Hospitality Group April 2016 Hotel Destinations South Korea
Jeju, South Korea 제주, 대한민국
Hotel Destinations South Korea 03 Contents 목차 Gearing up for the Games 04 City Profiles 시티 프로파일 06 Seoul 06 서울 07 Busan 08 부산 09 Jeju 10 제주 11 12 Quick Facts 주요지표 13 Contributors 담당자
Gearing up for the Games PyeongChang, South Korea
Hotel Destinations South Korea 05 As South Korea prepares to host the 2018 Winter Olympics, its expanding tourism sector is driving change across the hotel spectrum. Tourism has been identified as a key engine of economic development as South Korea seeks to tap into the rising demand for travel by the expanding middle classes in China, South East Asia and India, plus established markets such as Japan and Taiwan. Despite the setback caused by the Middle East Respiratory Syndrome (MERS) outbreak in May and June 2015, strong investment in tourism infrastructure and proactive destination marketing is predicted to support sustained growth. The underlying economic fundamentals are strong. Despite the widespread disruption of the MERS crisis, Korea s economy enjoyed renewed momentum in the final quarter of 2015. This year, the Bank of Korea estimates growth of three percent, supported by solid domestic demand, high employment and low inflation despite the potential impact of slower global growth on Korea s strong export sector. Inter-governmental resources are also being combined. The 2018 Winter Olympics in PyeongChang commences a triumvirate of Olympic events in North East Asia, followed by the 2020 Summer Olympics in Tokyo, and the 2022 Winter Olympics in Beijing. In November 2015, the leaders of South Korea, China and Japan held their first trilateral summit since 2012 in Seoul, as part of coordinated efforts to boost tourism flows between the three countries before, during and after these three highprofile sporting events. South Korea s tourism profile is growing, and its visitor demographics are diversifying. This is creating new opportunities in the hospitality sector, not just in the capital Seoul, but also in secondary cities and resort destinations, says Corey Hamabata, Vice President of Investment Sales for JLL s Hotels & Hospitality Group. As the hotel stock in these markets broadens further across the luxury, mid-market and budget segments, there is expected to be an increase in high-quality hotel assets potentially available for sale, a positive indicator that transaction volumes will increase, particularly as we are seeing strong pent-up demand from investors looking to acquire assets in global gateway markets or key regional destinations. Designated as the 2010 World Design Capital, the capital Seoul is a vibrant corporate and leisure destination in Asia, combining rich heritage and cultural traditions with eclectic dining and shopping experiences. A penchant for aesthetic style has created eye-catching architectural statements, such as Zaha Hadid s Dongdaemun Design Centre, and Hyundai Card Music Library. Its reputation as a culinary destination will be enhanced later this year by the publication of the debut Michelin restaurant guide, making Seoul Michelin s fourth Asian edition, following Japan, Hong Kong & Macau and Singapore. In the east of the country, the scenic mountainside town of PyeongChang, which will host the 2018 Winter Olympics, is a popular destination for winter sports, and the surrounding Gangwon province attracts spring and summer vacationers to enjoy its forested national parks, mountain temples, pristine beaches and delicious seafood. In advance of the Olympics, significant investment in tourism and transport infrastructure including a new high-speed rail link should further enhance the province s appeal. The southern island of Jeju combines volcanic rock formations, plentiful hiking and modern museums appealing to leisure tourists and domestic and regional Meetings, Incentives, Conventions and Exhibitions (MICE). Its photogenic coastlines are widely featured in the Korean soap operas that are popular across Asia, which has kindled its appeal as a honeymoon destination for young couples. South Korea s tourism profile is growing, and its visitor demographics are diversifying. This is creating new opportunities in the hospitality sector, not just in the capital Seoul, but also in secondary cities and resort destinations. Corey Hamabata Vice President of Investment Sales JLL s Hotels & Hospitality Group South Korea s tourism sector was badly affected by the 2015 MERS outbreak, but the nation s tourism authorities responded proactively by launching new promotional campaigns, notably in China. In efforts to attract eight million Chinese arrivals in 2016, up from around six million in 2015, South Korea has eased visa rules and exempted visa fees for group travellers. Against a promising tourism backdrop, the prominent challenge for the hotel sector is rate growth. Historically Seoul has not achieved the same average daily rates, especially in the luxury segment, as other Asian capital cities. It is hoped that the opening of new international luxury hotels, such as Four Seasons Hotel Seoul, will help push up rates at the top end of the market, says Leo Moon, CEO of Aju Hotels & Resorts. South Korea s hotel sector is also adjusting to a distinctive shift in lodging preferences as Chinese visitation outpaces Japanese arrivals. The recent drop in Japanese tourist numbers, widely attributed to the reduced value of the Yen, has affected upscale hotels. The surge in Chinese visitation, however, has altered the market profile, as Chinese tourists to South Korea tend to stay in mid to lower range accommodation, rather than top-end hotels, and price competition and discounting is increasingly evident. Moving forward, the changes in visa policy, which now allow multiple entries for Chinese visitors who fulfill certain criteria, means this dominant source market continues to support visitor arrivals into Korea. The growth in arrivals, following the end of MERS, is further supported through government initiatives undertaken to elevate the country as the destination of choice for business and leisure travellers, says Frank Sorgiovanni, Senior Vice President of Strategic Advisory for JLL s Hotels & Hospitality Group.
06 Hotel Destinations South Korea Seoul As South Korea s political, economic and financial hub, Seoul is a bustling metropolitan city in Asia. With its rich heritage and traditions, scenic landscapes and modern infrastructure, Seoul is a major corporate and leisure destination, offering tourists a diverse mix of cultural, entertainment, dining and retail experiences. There has been a significant increase in hotel development against a backdrop of demand growth, supported by the Korean Wave, easing of visa restrictions for major source markets and ongoing enhancements to tourism-related infrastructure. HIGHLIGHTS Tourism Demand Supply Outlook For the first time in over a decade, international visitor arrivals to South Korea recorded a decline, decreasing 6.8% y-o-y to reach 13.2 million visitors in 2015. This can primarily be attributed to the outbreak of the Middle East Respiratory Syndrome (MERS) in May 2015 which significantly dampened South Korea s tourism industry, although this was short lived. As at YTD February 2016, international visitor arrivals were registered at 2.2 million, a 12% y-o-y improvement. Visitor arrivals from all top 10 source markets registered y-o-y declines due to the outbreak of MERS. Thailand, Taiwan and Japan registered the most significant declines in 2015. However, visitor arrivals began to recover towards the end of the year, as reflected in the y-o-y improvements in October (+5.0%), November (+2.9%) and December (+2.8%). As at YTD February 2016, the key source markets of Mainland China and Taiwan showed a 17.3% and 11.6% y-o-y rise respectively. NEW NOTABLE HOTELS Last year, new hotel openings were mainly in the economy and midscale segments, comprising international brands such as Ibis Styles, Holiday Inn Express, Four Points by Sheraton, Best Western and local brands including Shilla Stay. The only luxury hotel opening in 2015 was the 317-room Four Seasons Hotel Seoul. The upcoming hotel pipeline consists of a few international brands including the Hyatt Place Seoul and the Courtyard Seoul Namdaemun. Visitor arrivals to South Korea and Seoul have shown steady improvement in early 2016 following the end of the MERS and supported by the strong demand of Mainland Chinese tourists. The Korea Tourism Organisation (KTO) is committed to promoting South Korea through various initiatives including the launch of the K-Smile campaign in conjunction with the Visit Korea Years 2016 to 2018 project. These initiatives will enhance the country s profile in the lead up to the 2018 PyeongChang Winter Olympics. 430 317 310 245 190 NOTABLE HOTEL DEALS Ladena Resort Lotte City Hotel Myeongdong Four Seasons Hotel Shilla Stay Guro L7 Myeongdong Best Western Arirang Hill Dongdaemun UPCOMING HOTELS Courtyard Seoul Namdaemun Hyatt Place Seoul QUICK FACTS 13.2 million International Visitor Arrivals (2015) 1,948 Number of New Rooms (2015) 66.9% Occupancy (YTD March 2016) KRW 175,432 ADR (YTD March 2016) KRW 117,420 RevPAR (YTD March 2016) Note: Seoul stock refers to Marketwide Hotels Source: STR Global (YTD March 2016), Korean Ministry of Culture, Sports and Tourism, JLL ADR - Average daily rate, RevPAR - Revenue per available room
Hotel Destinations South Korea 07 서울 한국의 정치, 경제, 금융의 허브인 서울은 아시아의 고밀도 대도시 중 하나입니다. 풍부한 유산과 전통이 깃든 관광지, 현대적인 인프라를 갖춘 서울은 주요 기업 비즈니스와 레저 활동을 위한 장소가 몰려있는 곳으로서 관광객들에게 문화, 오락, 식사, 쇼핑 등 다양한 즐길 거리를 제공합니다. 한류 에 따른 수요 증가, 주요 시장에 대한 비자 제한 해제, 관광 관련 인프라 개선 등으로 호텔 개발이 증가하고 있습니다. 관광 수요 공급 전망 2015년에 서울을 방문한 해외 관광객 수는 1,320만명으로 전년 대비 6.8% 감소하였습니다. 이는 지난 10년 사이에 처음으로 감소한 수치로, 한국의 관광산업을 크게 위축시킨 2015년 5월에 발생한 중동 호흡기증후군 (MERS)에 기인합니다. 이는 한국의 관광산업을 크게 위축시킨 2015년 5월의 중동 호흡기 증후군 (MERS) 의 영향이었습니다. 2016년 2월 현재해외방문객 수는 220만 명을 기록하여 전년 대비 12% 증가하였습니다. 상위 10개의 주요 관광국은 MERS의 영향으로 방문객이 감소했습니다. 태국, 대만, 일본 여행객이 2015년에 가장 감소한 것으로 나타났습니다. 그러나 연말로 가면서 이러한 추세는 회복되는 것으로 나타나 10월 (+5.0%), 11월 (+2.9%), 12월(+2.8%) 을 기록했습니다. 2016년 2월 현재, 중국과 대만은 전년 대비 각 17.3%, 11.6% 증가하였습니다. 신규 호텔 지난해에 신규 호텔 개장은 주로 이코노미 및 중형 부문에서 이루어졌으며, Ibis Styles, Holiday Inn Express, Four Points by Sheraton, Best Western 등 국제 브랜드와 Shilla Stay 를 비롯한 국내 브랜드가 포함됩니다. 2015년도에 개장한 유일한 럭셔리 호텔은 317실 규모의 Four Seasons Hotel Seoul 입니다. The Hyatt Place Seoul 과 Courtyard Seoul Namdaemun 을 비롯한 일부 국제 브랜드가 곧 개업할 예정입니다. MERS 종료 이후, 2016년 초부터 중국인 관광객 증가의 영향으로 외국인 관광객 수는 꾸준히 증가하고 있습니다. 한국관광공사는 2016-2018 한국방문의 해 를 선포 및 케이 스마일(K-Smile) 캠페인을 추진하는 등 관광객 유치를 위해 노력하고 있으며, 이러한 노력은 2018 평창 동계 올림픽과 연계하여 국가 브랜드 제고에 초석이 될 것으로 기대하고 있습니다. 주목할만한 호텔 거래 라데나 리조트 430 317 객실 객실 롯데 시티 호텔 명동 포시즌스 호텔 명동 310 객실 245 객실 190 객실 신라 스테이 구로 L7 명동 베스트 웨스턴 아리랑 힐 동대문 개장하는 호텔 코트야드 서울 남대문 남대문하얏트플레이스 서울 주요지표 1,320 만명 외국인 방문객 수 (2015) 1,948 객실 66.9% 신규 객실 수 (2015) 객실이용률 (2016년 3월 전년도 대비) 원 175,432 일일 평균율 (2016년 3월 전년도 대비) 원 117,420 가용 객실 당 수익 (2016년 3월 전년도 대비) 참고: 서울 호텔 총량 및 공급은 Market-wide 호텔의미 출처: STR Global (2016년 3월 전년도 대비), 한국 문화관광부
08 Hotel Destinations South Korea Busan Busan is the second largest city in Korea after the capital Seoul. Featuring a diverse geographic terrain, Busan boasts a coastline with beaches, scenic cliffs and mountains which provide good hiking as well as hot springs which are scattered throughout the city. The natural attractions as well as its rich history make Busan attractive as a city of tourism and culture, and it is also becoming known as an international convention destination, successfully playing host to a number of international exhibitions and conventions over recent years. HIGHLIGHTS Tourism Demand Supply Outlook In 2015, 12.4 million passengers travelled through Gimhae International Airport, a significant increase of 19.3% y-o-y despite the outbreak of the Middle East Respiratory Syndrome (MERS) during May to July 2015. This is evenly distributed between international and domestic travellers which comprise six million and 6.4 million passengers, respectively. Air passenger traffic has enjoyed healthy growth over the past ten years, increasing at a compound annual growth rate (CAGR) of 5.8%. Japan and Mainland China in total comprise nearly 60% of all international passenger traffic to Gimhae Airport, due to the flight connectivity coming via national airlines and the introduction of new budget carriers. However, similar to Seoul, Busan has recorded a decline in visitation from Japanese visitors due to the depreciation of the Japanese Yen in recent years, although we expect this trend will be short lived. In 2015, approximately 647 opened in Busan, the majority of which were classified as economy and midscale hotels. Over the next two years, approximately 2,800 are expected to be completed in Busan with several notable international brands including Hilton and Kempinski set to debut in the market. If all hotels materialise, Busan s hotel supply will increase by a CAGR of 8.7%. Various tourism initiatives including the development of the East Busan Tourism Complex, the redevelopment of North Port into a modern maritime tourism centre coupled with the expansion of Gimhae International Airport are sure to benefit the tourism and hotel landscape in the city. Over the medium term, daily room rate growth is likely to be compressed with a substantial level of new supply anticipated. NEW NOTABLE HOTELS NOTABLE HOTEL DEALS Shilla Stay Haeundae 468 Citadines Haeundae Busan 134 Best Western Haeundae Hotel UPCOMING HOTELS Hilton Busan Holiday Inn Busan Kempinski Hotel QUICK FACTS 6.0 million International Visitor Arrivals (2015)* 647 Number of New Rooms (2015) 65% Occupancy KRW 100,000 ADR KRW 65,000 RevPAR Note: Busan stock refers to Midscale & Economy Hotels Source: Korean Ministry of Culture, Sports and Tourism, JLL ADR - Average daily rate, RevPAR - Revenue per available room *refers to International Air Traffic at Gimhae International Airport **based on JLL estimates
Hotel Destinations South Korea 09 부산 부산은 한국에서 서울에 이어 두 번째로 큰 도시입니다. 다양한 지형이 특징인 부산은 아름다운 해변, 경치 좋은 바닷가 절벽과 산, 그리고 도시 곳곳의 온천과 도보 여행 코스로 유명합니다. 천연 관광지와 풍부한 역사는 부산을 관광과 문화의 도시로 만드는 동시에 최근에는 수많은 국제 전시회와 회의 장소로 부각되고 있습니다. 관광 수요 공급 전망 2015년에 김해 국제공항을통한 여행객수는 1,240만 명에 달했으며, 이는 2015년 5월의 중동 호흡기 증후 (MERS) 에도 불구하고 전년 대비 19.3% 증가한 수치입니다. 이 중 해외와 국내 여행객 수가 각600만명, 640 만명으로국내외 관광객에 고루 분포되어 있습니다. 지난 10년 동안 항공 여행객 수는 연평균 성장률 (CAGR) 5.8%를 기록했습니다. 일본 및 중국 여행객 등 해외여행객의 약 60%가 국제 항공사 또는 신규 저가 항공사로 김해국제 공항을 통해 입국합니다. 서울과 마찬가지로 부산은 최근 일본 엔화의 가치하락으로 일본인 방문객 수가 감소하였으나, 이 추세는 일시적인 현상일 것으로 예상합니다. 2015년에 부산에서는 약 647개의 객실이 문을 열었으며, 이중 대다수는 이코노미 호텔과 중소형 호텔로 분류됩니다. 향후 2년 동안 부산에서 약 2,800 개의 객실이 문을 열 것으로 예상되며, 이중에는 Hilton 과 Kempinski 을 비롯한 유명한 국제 브랜드 호텔이 포함됩니다. 모든 호텔들이 문을 연다면 부산의 호텔 공급은 8.7% 의 CAGR 을 기록할 것입니다. 동부산 관광단지 (East Busan Tourism Complex) 개발, 김해 국제공항 확장, 그리고 북항의 현대적인 해양 관광지로의 재개발을 포함한 다양한 관광개발 시책은 부산의 관광 및 호텔 업계에 큰 도움이 될 것입니다. 중기적으로 일일 객실료 인상은 예상되는 새로운 객실 공급으로 인해 제한적일 것으로 예상됩니다. 신규 호텔 주목할만한 호텔 신라 스테이 해운대 468 객실 시타딘 해운대 부산 134 객실 베스트 웨스턴 해운대 호탤 개장하는 호텔 힐튼 호텔 부산 홀리데이인 부산 캠핀스키 주요지표 6.0 백만 647개 외국인 방문객 수 (2015)* 신규 객실 수 (2015) 65% 객실이용률 원 100,000 일일 평균율 원 65,000 가용 객실 당 수익 참고: 부산 호텔 총량 및 공급은 중소형 및 이코노미 호텔을 의미 출처: 한국 문화체육관광부 *김해공항을 통해 들어오는 국제 항공 승객을 의미 **JLL 추정치에 근거
10 Hotel Destinations South Korea Jeju Located off the southern coast of the Korean Peninsula, Jeju is Korea s largest island. With its unique geological formations and abundance of biodiversity, Jeju has been recognised as one of the New 7 Wonders of Nature and is also home to the UNESCO World Heritage site, the Jeju Volcanic Island and Lava Tubes. The combination of natural beauty, historical sites, museums and beautiful beaches makes Jeju an attractive resort and leisure destination. HIGHLIGHTS Tourism Demand Supply Outlook In 2014, approximately 12.3 million visitors (domestic and international) travelled to Jeju, recording a 13.1% growth from 2013. Latest statistics as at YTD March 2015 reflect a similar upward trend, registering a 15.4% y-o-y improvement to 2.9 million visitors. International visitor arrivals have shown double digit growth yearly since 2008, driven mainly by the increase in Mainland Chinese visitors. Mainland China remains the leading source market to Jeju, accounting for over 80% of international visitor arrivals in 2014. Jeju is a popular resort destination for the Mainland Chinese due to its geographical proximity, the 30- day visa free policy and the proliferation of budget carriers offering direct flights between Jeju and numerous cities of Mainland China. Existing hotel supply in Jeju is dominated by Korean hotel brands such as Shilla and Lotte as well as several owner-operated hotels. International brands are rare and limited to the Ramada Plaza and the Hyatt Regency. However, with the development of the integrated resorts such as Resorts World Jeju and Jeju Airest City, more international operators are considering the longer term potential of Jeju as a regional resort tourism destination. The development of integrated resorts in Jeju as well as the expansion of the sea ports is expected to benefit tourism and room demand. However, the significant influx of hotels into Jeju over the short to medium term is likely to place pressure on upscale and luxury hotel stock. Nevertheless, if inbound demand continues to grow significantly, forecast hotel supply is likely to be absorbed. NEW NOTABLE HOTELS NOTABLE HOTEL DEALS There were no transactions over the past 12 months. 449 306 Booyoung Jeju Hotel & Resort 301 Shilla Stay Jeju UPCOMING HOTELS Value Hotel Jeju City Howard Johnson Hotel Resorts World Jeju (Four proposed hotels with over 2,000 ) QUICK FACTS 3.3 million 975 International Visitor Arrivals (2014)* Number of New Rooms (2015) Note: Jeju stock refers to Luxury & Upscale Hotels Source: Jeju Tourism Organisation, JLL ADR - Average daily rate, RevPAR - Revenue per available room 75% Occupancy (2015)* KRW 230,000 ADR KRW 172,500 RevPAR *latest full year international visitor arrivals statistics are as at 2014 **based on JLL estimates
Hotel Destinations South Korea 11 제주 한반도의 남쪽 끝에 자리잡은 제주도는 한국에서 가장 큰 섬입니다. 독특한 지질학적 형성 배경과 풍부한 생물학적 다양성을 갖춘 제주도는 세계 7대 경관 중 하나이며, 유네스코 세계 유산인 제주 화산섬과 용암 동굴로도 유명합니다. 자연의 아름다움, 역사 유적지, 박물관, 해변이 어우러진 제주는 관광명소이자 레저의 본고장입니다. 관광 수요 공급 전망 2014년에는 약 1,230만명의 국내 및 해외 방문객이 제주를 방문하여 2013년 대비 13.1% 의 증가를 보였습니다. 2015년 3월 현재 통계에서는 전년 대비 15.4% 가 증가한 290만 명이 방문했습니다. 2008년 이후 국제 방문객 수는 두 중국 방문객 수의 증가로 두 자릿수의 증가를 보이고 있습니다. 제주도는 중국과 지역적으로 근접하고 있으며 30일 무이자 정책, 중국의 다수 도시로부터 제주까지 직항이 증설되고 있어, 2014년 제주도 외국인 방문객 중 80% 이상이 중국인일 정도로 제주도는 중국인 관광객에게 인기 관광 목적지가 되고 있습니다. 신규 호텔 기존의 제주도 호텔 공급은 신라와 롯데 같은 한국 호텔과 여러 소유주 운영의 호텔들로 이루어져 있습니다. 현재, 국제 브랜드 호텔은 라마다 라마다 플라자 (Ramada Plaza) 와 하얏트 리젠시 (Hyatt Regency) 두 곳입니다. 그러나 리조트 월드제주 (Resorts World Jeju) 및 제주에어레스트 시티 (Jeju Airest City)등과 같은 통합형 리조트의 개발과아울러 많은 국제 호텔 경영자들이지역 리조트 관광지로서의 제주의 장기적인 잠재력에 주목하고 있습니다. 제주에서 통합형 리조트의 개발과 항만의 확장은 관광산업과 객실 수요에 긍정적인 혜택을 가져올 것으로 기대합니다. 중단기적으로 호텔 수요가 증가할 것으로 예상되며, 수요 증가는 호텔 규모의 확장과 럭셔리 호텔의 공급을 가져올 것입니다. 현재의 관광객 증가 추세가 앞으로도 계속된다면 신규 호텔의 공급 또는 기존 호텔 규모의 확장에도 안정적으로 운영될 것으로 예상합니다. 주목할만한 호텔 거래 지난 12개월 동안 주요 거래사례 없음. 449 306 301 객실 객실 부영 제주 호텔 리조트 신라 스테이 제주 개장하는 호텔 벨류 호텔 제주 시티 하워드 존슨 호텔 리조트 월드 제주 (4 개 호텔 - 2,000객실 이상) 주요지표 330 만 외국인 방문객 수 (2014)* 참고: 제주 호텔 총량 및 공급은 럭셔리 및 특급호텔을 의미 출처: 제주 관광공사 (Jeju Tourism Organisation, JLL) 975객실 75% 신규 객실 수 (2015) 객실이용률 원 230,000 일일 평균율 원 172,500 가용 객실 당 수익 *최근 1년 국제 방문객 도착 통계는 2014년 기준 **JLL 추정치
12 Hotel Destinations South Korea Quick Facts 주요지표 INTERNATIONAL VISITOR ARRIVALS 2015 NUMBER OF NEW ROOMS 2015 OCCUPANCY KRW AVERAGE DAILY RATE (ADR) KRW REVENUE PER AVAILABLE ROOM (REVPAR) 2015 외국인 방문객 수 2015 신규 객실 수 객실 이용률 일일 평균율 (원) 가용 객실당 수익 (원) Seoul 서울 13.2 million (South Korea) (대한민국) 1,948 66.9% (YTD March 2016) (2016년 3월 전년도 대비) 175,432 (YTD March 2016) (2016년 3월 전년도 대비) 117,420 (YTD March 2016) (2016년 3월 전년도 대비) Busan 부산 6.0 million (based on International Air Traffic at Gimhae International Airport) (김포국제공항 국제 항공 교통정보 기준) 647 65%* 100,000* 65,000* Jeju 제주 3.3 million (2014) 975 75%* 230,000* 172,500* *based on JLL estimates * JLL 추정치 South Korea: Tourism Statistics Korea annual visitor arrivals 2013 12.2 MILLION 2014 14.2 MILLION 2015 13.2 MILLION Annual visitor arrivals reached the 5 MILLION mark for the first time in 2004 The 11 MILLION arrivals benchmark was reached in 2012 The Korea Tourism Organization has set a target of 20 MILLION inbound arrivals by 2020
Contributors 담당자 Hotel Destinations South Korea 13 Scott Hetherington Chief Executive Officer Asia scott.hetherington@ap.jll.com Troy Craig Managing Director Strategic Advisory Asia Pacific troy.craig@ap.jll.com Frank Sorgiovanni Head of Research Asia Pacific frank.sorgiovanni@ap.jll.com Corey Hamabata Corey Hamabata Vice President Investment Sales Asia corey.hamabata@ap.jll.com Seow Yu Ping Senior Associate Strategic Advisory Asia yuping.seow@ap.jll.com Front cover Seoul, South Korea About JLL Hotels & Hospitality Group JLL s Hotels & Hospitality Group has completed more transactions than any other hotels and hospitality real estate advisor over the last five years, totalling more than $68 billion worldwide. Between negotiating the world s most extraordinary, enticing, and profitable property deals, the group s 350-strong global team also closed more than 4,400 advisory, valuation and asset management assignments. Investors worldwide turn to JLL to shape their strategies, tailor their portfolios and maximize the value of their assets. We are recognized as the global leader in real estate services across hospitality properties of all shapes and sizes. Our expert advice is backed by industryleading research.we apply our broad spectrum of hotel valuation, brokerage, asset management and consultancy services through every phase of the hotel lifecycle. We have helped more hotel investors, owners and operators achieve high returns on their assets than any other real estate advisor in the world. Whether you are looking for a hotel or you re ready to sell, we ll use our capital markets expertise, hospitality industry knowledge and global relationships to put the right parties together and execute a bespoke deal that exceeds your objectives. To find out more, talk to JLL. www.jll.com/hospitality
Seoul, South Korea 서울, 한국
Hotel Destinations South Korea 15
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