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On the eve of the official opening of the Ibis Myeong-dong, Accor and joint venture partners, the Ambassador Group, have announced a third Ibis hotel to be developed in the South Korean capital of Seoul. The hotel is…
On the eve of the official opening of the Ibis Myeong-dong, Accor and joint venture partners, the Ambassador Group, have announced a third Ibis hotel to be developed in the South Korean capital of Seoul. The hotel is being developed out of an existing office building in Suwon. It is Accor’s second such conversion of an office building in Seoul to a hotel, following the re-development of the Hotel Ibis Myeong-dong. Accor is a pioneer in the Asia Pacific region for converting office buildings into accommodation property, with significant re-developments undertaken in Korea, Japan, Australia and New Zealand.
The hotel is being developed by MyungSun Inc, a private Korean company, which specialises in commercial and retail property development. It is their first hotel.The hotel, which is scheduled to be completed by mid-2007, will be operated by the Accor-Ambasador joint venture.
Accor Asia Pacific Managing Director, Michael Issenberg, said that Ibis had made an immediate and substantial impact on Seoul’s hotel sector.
“The Ibis at Gangnam was the first internationally managed economy-brand hotel concept in Korea, and has exceeded all predictions with occupancies consistently over 90% during its first three years of operation and we are confident of achieving an even better result at the new Ibis Myeong-dong, which is officially launched on Friday 26 May,”> said Mr Issenberg.
“It continues Accor’s policy of being at the forefront of innovation in the Korean hotel market, firstly launching the Novotel brand to cater for the mid-market, and now Ibis for the economy sector.”
The expansion of Ibis in Korea comes at a time of unprecedented growth in the brand throughout the Asia Pacific region.
“We are rapidly expanding the network in countries such as China, Thailand, India, Indonesia, Australia and New Zealand, and with its guaranteed international standards and competitive pricing we believe that Ibis will change the face of the economy hotel sector in the region,” said Mr Issenberg.
“We anticipate demand to grow even stronger in future years, paralleling the dramatic growth in domestic and intra-Asia travel, and the emergence of new low-cost airlines. There is a clear market need for more economy and mid-market accommodation – and Accor is the leader in this sector.”
