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Hotel Shilla to open its first overseas hotel in Danang, Vietnam
Hotel Shilla announced Tuesday that it will actively begin expanding its brand abroad this year, the first new location being a resort in Danang, Vietnam. Hotel Shilla said Tuesday that it is opening its first overseas hotel in Danang, Vietnam, this year, aiming to become a global hotel chain. It will open more hotels in 10 further overseas locations, including in the US and China.
Under its new brand Shilla Monogram, the hotel in Danang will be an upscale hotel comprised of a beach restaurant, lobby bar and 300 guest rooms across nine buildings.
The company said its overseas hotels will be operated based on consigned management to minimize risks of entering new markets as well as to seek for stable profitability. Following the Shilla Monogram Vietnam Danang, the company said it will open a premium business hotel in San Jose, California, in 2021. The company said its 40 years of expertise in domestic hotel operations and brand power as a luxury hotel operator will drive Hotel Shilla’s positive performance in overseas markets.
As of last year, Hotel Shilla sees 20 percent of its revenue from overseas sales, mainly through operating duty-free stores. It is estimated by the market that Shilla Duty Free’s sales from overseas airports last year exceeded 1 trillion won ($893 million), a first for a local duty-free operator.
Last week, Shilla Duty Free opened its newest store at Gimpo Airport servicing Seoul, following stores at Incheon and Jeju Airport. It currently runs stores in other major airports including Singapore’s Changi Airport and Hong Kong International Airport.
Besides its two hotels in Seoul and Jeju, Hotel Shilla operates 11 Shilla Stay locations nationwide. The premium business hotel brand launched in 2013.
Source: The Korea Herald
Update day: 16/01/2019
Update day: 16/01/2019
