Advertisement
Report

South Korea - a 2013 market snapshot and the outlook for 2014 and beyond

Soaring land prices (especially in Seoul) and low profitability in hotel operations have historically restrained developer interest in top-tier hotel development. However, the strong hotel market performance in 2011 and 2012, thanks to the huge influx of Japanese travellers, stimulated local developers to speculate on hotel development, in particular on business oriented and limited service/budget hotel products.

Steve Baek
By Steve Baek, Director at Horwath HTL Singapore, Horwath
Korea, Republic of
Asia Pacific Korea, Republic of
Steve Baek
Steve Baek
Director at Horwath HTL Singapore, Horwath

Steve Baek joined the Horwath HTL Singapore office in 2005 as a Senior Consultant. He has worked for many hotel and resort development projects in major gate cities in China, Thailand, South Korea and other Southeast Asian countries, focusing on market and financial feasibility studies, hotel valuations and strategic planning.

Horwath
Consultant

At Horwath HTL, our focus is one hundred percent on hotel, tourism and leisure consulting. Our services cover every aspect of hotel real estate, tourism and leisure development. Our clients choose us because we have earned a reputation for impartial advice that will often mean the difference between failure and success. Each project we help is different, so we need all of the experience we have gained over our 100-year history.