Now In Korea

KT Considers Selling Luxury Hotels Amidst Booming Sector

Creatrip Team

a year ago

KT, a major operator of luxury hotels in Seoul, is considering selling several key properties as part of its plan to enhance corporate value. This includes 5-star hotels like Sofitel Ambassador Seoul and Andaz Seoul Gangnam. Following a surge in hotel industry demand due to 'hocance' (hotel vacation) trends and a recovery in tourism, KT aims to liquidate non-core assets to focus resources on strategic areas like AI development. This decision aligns with their value-up program, announced to improve profitability and asset management.

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