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| Fairfield by Marriott Seoul lobby/Courtesy of Fairfield by Marriott Seoul |
By Kim Se-jeong
Marriott International, the world's biggest hotel chain and the operator of 16 properties in Korea, is opening up two new properties on Friday and Sunday.
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| An exterior view of the Four Points by Sheraton, Gangnam/Courtesy of Four Points by Sheraton, Gangnam |
"Fairfield by Marriott is the second biggest brand among a total of 30 Marriott brands and its debut is the fourth in Asia following those in India, China and Indonesia," the Marriott International said in a statement.
Marriott expects to open three other properties across Korea this year.
RYSE, Autograph Collection, will open in Hongdae, Seoul, later this year. Each of its 272 rooms will feature a Bluetooth speaker, a "boombox" and designer bath gowns in order to attract young guests.
Meanwhile, Courtyard by Marriot Seoul Botanic Park, which is due to open in May, will be the fifth Courtyard brand to open in Korea. Located near Magok Station, a new residential district in southwestern Seoul, the hotel will have 262 rooms, an all-day dining restaurant, a bar and lounge, meeting rooms and a fitness center. The outlook for the property is good, as a botanic garden and a big shopping mall are expected to be built in the area.
Finally, the 221-room Fairfield by Marriott Busan Haeundae will be the second Fairfield brand to open in Korea in June.
"Along with China, Japan, India and Australia, Korea is one of the five important markets in the Asia Pacific," said Bae Soon-ok, Marriott International's area director of marketing for Korea, Japan and Guam. He said Marriott's expansion in Korea will continue through 2018 and the years to come for Korea. "Outbound travelers are increasing and so are inbound travelers to Korea, who are interested in the Korean wave and K-beauty. We believe the tourism market in Korea will continue to grow."
However, it is unclear what these new properties mean for Seoul which many hoteliers believe is already a saturated market.
The emergency of new hotels in the capital, which has approximately 10 million residents, began in the early 2010s when then-President Lee Myung-bak administration said the city did not have enough accommodations for visitors.
Currently, the number of hotels soared exponentially in the years that followed.
The first trend was the arrival of luxury hotel chains, such as the Four Seasons, followed by business hotels that cater to guests who visit Korea for business and low-budget chains, like Ibis, which cater to young frugal travelers.
Marriott International joined the race in the Korean hotel market recently, starting with JW Marriott Dongdaemun Square Seoul, under one of its premium brands. As Marriott International's acquisition of Starwood Hotels and Resorts Worldwide, which owned the Sheraton brand was completed in 2016, Marriott's standing in Korea grew stronger.
Marriott International's other properties in the country are JW Marriott Seoul, Le Meridien Seoul, The Westin Chosun Seoul, Sheraton Grand Incheon Hotel, Marriott Executive Apartment Yeouido Park Center-Seoul, Courtyard by Marriott Seoul Times Square, Four Points by Sheraton Seoul Namsan and Aloft Seoul Gangnam and Myeongdong.
The Marriott brand offers almost 5,000 rooms in total in Korea.
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| One of the guest rooms at Fairfield by Marriott Seoul/Courtesy of Fairfield Marriott Seoul |
In Asia Pacific, it currently operates 609 hotels in 209 cities and expects to open 517 more properties. Globally, the hotel chain runs at least 6,400 properties in 126 countries and territories.
Marriott became the world's biggest hotel chain in 2016. In November 2015, it announced the acquisition of Starwood Hotels for $13 billion. China's Anbang Insurance Group made a counter offer with $14 billion, briefly stalling the Marriott's acquisition negotiations.
In March 2016, Marriott raised its bid to $13.6 billion, and Starwood returned to the negotiating table. The deal was closed on Sept. 23, 2016.
Starwood Hotels had a bigger operation outside the United States, and the acquisition earned Marriott a bigger international presence.
In November last year, Marriott reported its revenues had risen to $5.66 billion in the quarter that ended on Sept. 30, up 43.7 percent from the same period a year earlier.
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