An improved performance from its hotel and retail sectors in May has helped South Korea’s Jeju Dream Tower record its highest monthly sales performance since opening, according to information from Lotte Tour Development.
Pointing to the easing of social distancing measures and business hour restrictions for the improvement, Lotte Tour said that sales from its hotel and retail divisions reached KRW12.96 billion (US$10.3 million) in May, including KRW12.50 billion (US$10.0 million) from the hotel sector alone. This was nearly double the 2021 monthly average of KRW6.90 billion (US$5.5 million) and broke the previous record of KRW11.50 billion (US$9.2 million) recorded in December last year.
Pol Quac, general manager of Grand Hyatt Jeju, said, “In April, due to social distancing and the lifting of business hours restrictions, the room occupancy of up to 1,000 rooms or more a day was high, and sales in the food and beverage (F&B) sector also increased significantly.”
Jeju Dream Tower’s 14 restaurants and bars saw sales reach a record KRW4.14 billion (US$3.3 million) in May, representing a 70% increase compared to average monthly sales of KRW2.4 billion (US$1.9 million) in 2021.
While Jeju Dream Tower opened into the teeth of the COVID-19 pandemic in December 2020, the company said it remains confident in its recovery trajectory as avenues for visitors to travel to Jeju increase.
“From 15 June, when [budget Singapore airline] Scoot Air – which connects Singapore and Jeju International Airport with direct flights three times a week – is launched, the full-fledged effect of the reopening will be realized in the hotel and retail sectors of Jeju Dream Tower Complex Resort as well as in the casino sector.”
The tallest building in Jeju at 38 floors or 169 meters high, Jeju Dream Tower features a retail mall, 14 restaurants and bars, an outdoor pool deck, top floor skydeck with lounge, two spas and a casino boasting 150 tables and 300 slot machines.