Jeju Dream Tower selects hotel operator
In South Korea, the firm behind the coming $606.6 million Jeju Dream Tower integrated casino resort has reportedly selected American hotel operator Hyatt Hotels Corporation to run the 1,626 rooms inside the 75-acre facility.
According to a report from Asia Gaming Brief, Lotte Tour Development Company Limited revealed that the hotel inside the 38-story Jeju Dream Tower is to be branded under the Grand Hyatt name with each of the 699.6 sq ft rooms set to feature direct access to a foreigner-only casino on the second floor.
Expected to open during the second half of next year, the Jeju Dream Tower is being developed by Seoul-based Lotte Tour Development Company Limited in partnership with Chinese real estate firm Greenland Group on the South Korean island of Jeju. Due to be located less than two miles from Jeju International Airport, the facility will reportedly additionally feature eleven restaurants and bars run by Hyatt Hotels Corporation while its 98,166 sq ft casino is to offer approximately 420 slots alongside 190 gaming tables.
Set to be 551.1 feet in height when finished, Jeju Dream Tower is being modeled on similar integrated casino resorts in Macau while Lotte Tour Development Company Limited reportedly declared that it selected Hyatt Hotels Corporation because of the firm’s resonance with Chinese tourists, who are to serve as a major target market.
“With the solid partnership that has been formed between Greenland Group, China’s largest property developer and co-developer of this project, China State Construction Engineering Corporation, the world’s largest construction company and main contractor who provided an unconditional complete guarantee, and Grand Hyatt as hotel operator, the Jeju Dream Tower integrated resort is expected to become a major tourist destination on Jeju Island,” read a statement from Ki-Byung Kim, Chairman and Chief Executive Officer for Busan-listed Lotte Tour Development Company Limited. “It will also create 3,000 jobs including hoteliers and casino dealers and contribute tens of billions of Korea won to the Jeju Tourism Promotion Fund every year.”