South Korea – Lotte Tour selects Hyatt for Jeju Dream TowerBy Phil - 4 September 2017
Lotte Tour Development has selected Hyatt as the hotel operator at its $606m Jeju Dream Tower destined for the island of Jeju in South Korea.
The two 38-storey towers will boast 1,626 rooms inside the 75-acre facility with a foreigner-only casino on the second floor. The property, which is being developed in partnership with Chinese real estate firm Greenland Group, is expected to open in the second half of 2018. The 98,166 sq ft casino will house 420 slots and 190 gaming tables with the overall facility boasting 11 restaurants.
Ki-Byung Kim, Chairman and Chief Executive Officer for Lotte Tour, said: “With the solid partnership that has been formed between Greenland Group, China’s largest property developer and co-developer of this project, China State Construction Engineering Corporation, the world’s largest construction company and main contractor who provided an unconditional complete guarantee, and Grand Hyatt as hotel operator, the Jeju Dream Tower integrated resort is expected to become a major tourist destination on Jeju Island. It will also create 3,000 jobs including hoteliers and casino dealers and contribute tens of billions of Korea won to the Jeju Tourism Promotion Fund every year.”