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Country Report

Luxury Hotels (5-star plus) in

Luxury Hotels in South Korea

Jan 2020

US$990

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Executive Summary

New Report Guarantee

If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!

PROSPECTS

Mid-level hotels offer rooftop bars and pool-side parties, threatening the growth of luxury hotels

Several business hotels, upscale and mid-level hotels are operated by luxury hotel owners in South Korea. L7 Hotel and Lotte City Hotel are operated by Lotte Group, and Shilla Stay is operated by Hotel Shilla Co Ltd.

Luxury hotels tempt customers with package deals, designed for different consumers’ needs

Customers in South Korea will often use luxury hotels to enjoy relaxing, and pleasurable experiences with their friends and families. Luxury hotels offers a range of special packages, designed to help consumers pick the right experience for themselves and their party.

Hotels positioned to attract Chinese tourists widen their marketing to other nationalities, as Chinese visitors boycott South Korea

Luxury hotels experienced a Chinese tourist drop-out after the THAAD incident (Terminal High Altitude Area Defence.) As such, Chinese tourists were boycotting South Korea, due to South Korea perceived links with the United States military, and the accompanying threat to Chinese national security.

COMPETITIVE LANDSCAPE

Hotel Lotte Co retains its lead, however Paradise Group records the highest growth, offering a unique experience to visitors

Hotel Lotte Co Ltd leads luxury hotels, benefiting from having the most premises operating throughout South Korea. However, when it comes to growth, Paradise Group is the most noticeable, offering Paradise Hotel.

Luxury hotels are becoming known as business hotels, as many hold events for finance companies and investment banks

Several hotels are losing their luxury positioning in South Korea. For example, Conrad Seoul is located in the Yeouido area, a finance and investment banking district which also has several signature facilities, like the National Assembly Building and the Korean Broadcasting System.

Fairmont Hotel plans to a new opening for 2020, with a department store complementing its opening

Fairmont Hotel is expected to open in Seoul in 2020. The hotel will be built near the International Finance Centre, and there will also be a Hyundai Department Store nearby, and a mall named Parc 1 - which was also be opened at the same time.

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Overview

Why buy this report?

Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.

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Files are delivered directly into your account within a few minutes of purchase.

Overview

Discover the latest market trends and uncover sources of future market growth for the Luxury Hotels (5-star plus) industry in South Korea with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Luxury Hotels (5-star plus) industry in South Korea, our research will save you time and money while empowering you to make informed, profitable decisions.

The Luxury Hotels (5-star plus) in South Korea market research report includes:

Analysis of key supply-side and demand trends
Detailed segmentation
Historic volumes and values, company and brand market shares
Five year forecasts of market trends and market growth
Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

What is the market size of Luxury Hotels (5-star plus) in South Korea?
What are the major brands in South Korea?
What is the rate of development for chained hotels vs independent hotels?
How are luxury hotels performing compared to mid-priced and budget hotels?
Is there an increase in hostels and campsites?

Why buy this report?

Gain competitive intelligence about market leaders
Track key industry trends, opportunities and threats
Inform your marketing, brand, strategy and market development, sales and supply functions

This industry report originates from Passport, our

Travel and Tourism market research database

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Luxury Hotels in South Korea - Category analysis

HEADLINES

PROSPECTS

Mid-level hotels offer rooftop bars and pool-side parties, threatening the growth of luxury hotels

Luxury hotels tempt customers with package deals, designed for different consumers’ needs

Hotels positioned to attract Chinese tourists widen their marketing to other nationalities, as Chinese visitors boycott South Korea

COMPETITIVE LANDSCAPE

Hotel Lotte Co retains its lead, however Paradise Group records the highest growth, offering a unique experience to visitors

Luxury hotels are becoming known as business hotels, as many hold events for finance companies and investment banks

Fairmont Hotel plans to a new opening for 2020, with a department store complementing its opening

CATEGORY DATA

Table 1 Sales in Luxury Hotels: Value 2014-2019
Table 2 Sales in Luxury Hotels: % Value Growth 2014-2019
Table 3 Sales in Luxury Hotels by Country of Origin: % Value 2014-2019
Table 4 NBO Company Shares in Luxury Hotels: % Value 2014-2018
Table 5 LBN Brand Shares in Luxury Hotels: % Value 2015-2018
Table 6 Forecast Sales in Luxury Hotels: Value 2019-2024
Table 7 Forecast Sales in Luxury Hotels: % Value Growth 2019-2024

Luxury Goods in South Korea - Industry Overview

EXECUTIVE SUMMARY

Growth in luxury goods is driven by an increasing consumer base and rise in local luxury offerings, however duty-free and imitations goods remain a threat in 2019

The decrease in Chinese tourists sees players developing offerings for local consumers, as retailers create special VIP areas

Luxury cars led the landscape in 2019, as Daimler AG retained its first-place position with Mercedes-Benz, and BMW lost value share

Premium outlets pose a threat to department stores, as they offer high-level discounts on several luxury players

Growth over the forecast period will be driven by tourism, affordable luxury and a diverse range of new players

MARKET INDICATORS

Table 8 Number of High Net Worth Individuals (HNWI): 2014-2019

MARKET DATA

Table 9 Sales of Luxury Goods by Category: Value 2014-2019
Table 10 Sales of Luxury Goods by Category: % Value Growth 2014-2019
Table 11 Inbound Receipts for Luxury Goods by Country of Origin: Value 2014-2019
Table 12 NBO Company Shares of Luxury Goods: % Value 2014-2018
Table 13 LBN Brand Shares of Luxury Goods: % Value 2015-2018
Table 14 Distribution of Luxury Goods by Format and Category: % Value 2019
Table 15 Forecast Sales of Luxury Goods by Category: Value 2019-2024
Table 16 Forecast Sales of Luxury Goods by Category: % Value Growth 2019-2024

Megatrends

Country Report

Luxury Hotels in South Korea

New Report Guarantee

Executive Summary

New Report Guarantee

PROSPECTS

Mid-level hotels offer rooftop bars and pool-side parties, threatening the growth of luxury hotels

Luxury hotels tempt customers with package deals, designed for different consumers’ needs

Hotels positioned to attract Chinese tourists widen their marketing to other nationalities, as Chinese visitors boycott South Korea

COMPETITIVE LANDSCAPE

Hotel Lotte Co retains its lead, however Paradise Group records the highest growth, offering a unique experience to visitors

Luxury hotels are becoming known as business hotels, as many hold events for finance companies and investment banks

Fairmont Hotel plans to a new opening for 2020, with a department store complementing its opening

Overview

Why buy this report?

SAMPLES

Delivery

Overview

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Table of Contents

Luxury Hotels in South Korea - Category analysis

HEADLINES

PROSPECTS

Mid-level hotels offer rooftop bars and pool-side parties, threatening the growth of luxury hotels

Luxury hotels tempt customers with package deals, designed for different consumers’ needs

Hotels positioned to attract Chinese tourists widen their marketing to other nationalities, as Chinese visitors boycott South Korea

COMPETITIVE LANDSCAPE

Hotel Lotte Co retains its lead, however Paradise Group records the highest growth, offering a unique experience to visitors

Luxury hotels are becoming known as business hotels, as many hold events for finance companies and investment banks

Fairmont Hotel plans to a new opening for 2020, with a department store complementing its opening

CATEGORY DATA

Luxury Goods in South Korea - Industry Overview

EXECUTIVE SUMMARY

Growth in luxury goods is driven by an increasing consumer base and rise in local luxury offerings, however duty-free and imitations goods remain a threat in 2019

The decrease in Chinese tourists sees players developing offerings for local consumers, as retailers create special VIP areas

Luxury cars led the landscape in 2019, as Daimler AG retained its first-place position with Mercedes-Benz, and BMW lost value share

Premium outlets pose a threat to department stores, as they offer high-level discounts on several luxury players

Growth over the forecast period will be driven by tourism, affordable luxury and a diverse range of new players

MARKET INDICATORS

MARKET DATA

SOURCES

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