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Grand Hyatt Incheon West Tower, located in Jung-gu, Incheon (Photo = Paradise Group) |
[Alpha Biz= Paul Lee] Seoul/Incheon, September 23, 2025 – Paradise Group announced that its subsidiary, Paradise Sega Sammy, has signed an agreement to acquire the West Tower of Grand Hyatt Incheon from Korean Air affiliate Kal Hotel Network for KRW 210 billion.
The acquisition aims to leverage the hotel’s prime location near Yeongjongdo’s tourism hub and support the long-term growth of the region’s hospitality infrastructure. Paradise stated that the investment aligns with the government’s “K-Tourism” vision, which includes measures such as simplified visa procedures and visa-free entry for Chinese group tourists, designed to attract more international visitors.
Hotel Profile and Strategic Value
Property: Grand Hyatt Incheon West Tower
Land Area: approx. 16,000㎡
Facilities: 5-star hotel with 501 rooms, opened in 2014
Location: Three-minute walk from Paradise City, Incheon
Given the scarcity of land in Yeongjongdo, the acquisition is considered highly valuable, offering Paradise an expansion effect equivalent to constructing a new hotel without the need for additional land development.
Synergy with Paradise City
With the addition of the West Tower’s 501 rooms to Paradise City’s 769 rooms, Paradise will operate a combined 1,270 guest rooms in the Incheon resort district. To further enhance guest experience and operational efficiency, Paradise Sega Sammy is considering building a connecting bridge between the two properties.
Paradise emphasized that this acquisition will strengthen its competitiveness in the international hospitality and tourism market while contributing to the development of Korea’s tourism industry and revitalization of the Incheon economy.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
