On the 4th, HDC Hyundai Development Company announced that it will attract a 'Park Hyatt' hotel to the Yongsan Maintenance Depot Zone 1.
Hyatt is one of the top five global hotel chains, and 'Park Hyatt' is Hyatt's premium brand.
HDC Hyundai Development Company explained that it aims to transform the Yongsan Maintenance Depot Zone 1 into a premium complex that organically connects international business, commerce, and accommodation as a 'global business city.'
The case of the 'Grand Hyatt Tokyo' in Roppongi Hills, Tokyo, Japan, attracting international MICE (meetings, incentives, conventions, and exhibitions), premium accommodation, and global corporate demand, is intended to be replicated domestically, enhancing the sales potential and asset value of premium offices and commercial facilities.
The most direct benefit of attracting the Park Hyatt hotel is the influx of high-end business demand. Various demands, including international conferences and forums, VIP receptions for global corporations, high-end customer accommodation, and cultural and artistic events, can flow into Yongsan.
Additionally, it will become possible to create a working environment with high-quality infrastructure for security, transportation, and communication, and the preference of global financial corporations, law firms, and foreign companies is also expected to increase significantly.
In the commercial sector, the location premium of being 'right next to a six-star hotel' acts as a strong incentive. It can accelerate the attraction of high-end consumer content, including luxury retail, fine dining, and global beauty and lifestyle brands. Securing fixed demand with the simultaneous inflow of hotel visitors and business and residential needs greatly increases the stability and value of commercial facilities.
This high-end complex development strategy has already been implemented in Seoul. The COEX InterContinental and Parnas Hotel in Gangnam's Samseong-dong have enhanced the overall business and tourism functions of the area through synergy with large-scale offices, retail, and exhibition spaces.
The Conrad Hotel in the Yeouido IFC Mall has also been praised for contributing to the attraction of global financial corporations and the revitalization of high-end commercial facilities.
An official from HDC Hyundai Development Company said, "We plan to implement the triangular synergy created by 'hotel + office + commercial facilities' centered around the attraction of the Park Hyatt hotel at the Yongsan Maintenance Depot."