CreatripTeam

Seoul and Incheon hotel room rates have surged, with average daily rates (ADR) reaching about 247,000 won in August and nearly 296,000 won in September — the first time monthly ADR approached 300,000 won. Occupancy reached 81.6%, and excluding high-end suites and reserve rooms many hotels are effectively fully booked. Luxury properties like Signiel Seoul and Four Seasons Seoul reported strong revenue gains and ADRs up to 800,000–900,000 won. The price boom is driven by a sharp rise in foreign tourists (over 12 million through August, on pace to surpass pre-pandemic records) and growing domestic “hotel-cation” demand. Post-COVID travel patterns favor independent travelers booking through online travel agencies (OTAs), which tend to pay higher rates than group bookings. Limited new hotel supply in central Seoul—due to scarce land, rising construction costs, and financing constraints—adds upward pressure on prices, suggesting high rates may persist.