Despite a continued slowdown from Chinese inbound tourism, Marriott International remains bullish on South Korea.
Diplomatic differences with China continue to impact South Korea tourism but that is not worrying the world’s largest hospitality group which plans to build at least another 16 hotels in the country by 2022.
This will more than double its portfolio in the country.
There is strong demand in the domestic sector and good progress being made by South Korea as it pivots toward other overseas markets, Marriott says.
"We are expecting to open four hotels before the end of the first quarter of 2018. This is the testament of our confidence in the Korean market," said Asia Pacific VP Ramesh Daryanani.
"South Korea is an important market for us."
The focus is on the country’s popular tourist areas such as Jeju Island and the port city of Busan.
Marriott currently operates 15 hotels under eight of its brands in South Korea, mostly located in the Seoul metro area.
Last week Marriott unveiled plans for the brand debut of Le Meridian, which will be located in Gangnam, Seoul.
It is slated to open in September 2017.
